Insurance is complicated, especially because there are many different types of policies.

Learning what type of policy you’re eligible for and which one would benefit you most can be as simple as 1-2.

That’s right, there is no 3. That’s just how simple it is.

1. What’s the Difference Between Condo and Homeowners?

When you own a house, you own the house. That means you’re responsible for the entire structure. Your homeowner’s responsibilities include upkeep items like replacing your roof or repairing siding. When you own a condo unit,  you’re responsible for the interior features of the unit, such as flooring and appliances. Your condo association maintains responsibility for exterior features such as the building structure, wiring, and insulation.

Your insurance policy is written based on the structure type of your property. To find out what type of structure you have, contact your agent or check your local property appraiser’s website.

In short: if you’re in a condo, you can apply for a condo-unit policy. If you own a home, you can apply for a homeowner’s policy.

2. What’s Covered with Condo Policies?

There is condo insurance for condo-unit owners and condo insurance for condominium associations. You’re probably most familiar with the HO-6 policy, the typical, individual condo-unit owner insurance policy. A condo-unit policy covers your personal property while the association policy usually covers the structure, surrounding area, etc. You can always request a copy of the association policy from your condo board.

You have different coverage options for your HO-6 policy, including protecting the portions of the dwelling you are responsible for (e.g., cabinets and flooring), personal property from theft and vandalism, loss-of-use if your unit is rendered uninhabitable due to a covered loss, and personal liability and medical payments if someone is injured while on your property. Loss assessment coverage of up to $2,000 is included in HO-6 policies, and these assessments are the responsibility of all unit owners. These assessments are typically for deductibles and repairs not covered by a condo-unit policy.

Those are the basics of what you need to know. If you’d like to learn more, review our condo coverage types, use our Find a Carrier tool to see which carrier has the coverage you need, or contact your agent with questions.