What is homeowners insurance versus condo insurance? What are the similarities? What are the differences? While there are some similarities, there are some things that make each unique.

In a condo, you don’t insure the entire dwelling. That makes it different from home owners. Our owner, Patrick Brennen, explains what you need to know and what you can expect.

Homeowners Versus Condo Insurance – Entrust Insurance Agency – St Clair Shores, MI

Video Transcription

“There’s some similarities but they’re very different in their core coverages. The main being there’s dwelling coverage on a homeowner’s. In a condo, you’re not insuring the entire dwelling. For most every person that’s buying a condo, their association’s policy is going to cover the exterior and the frame of the building. So when you buy a condo policy, you’re buying what’s called a “studs in” coverage policy. So the coverage that you have to select, it’s not pre-generated. It’s not really calculated by most companies. So you have to determine how much coverage is needed is to cover things like drywall, paint, flooring, countertops, cabinets, I think if you watch like any home renovation show, and if they strip the house down to the studs, that’s what you would walk into. And that’s what your insurance policy has to have enough money to be able to rebuild and to finish off.”

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