Your HOA’s insurance will ONLY PARTIALLY cover your condo or townhouse


Contrary to a common belief, your homeowners’ association’s (HOA’s) insurance policy will only partially cover losses to your condo or townhome.

HOA policies vary, but they will typically only pay “walls out” or “paint out”. You, the homeowner, are responsible for the rest. What does this mean to you?

  • Damage or theft to your belongings.
  • Your liability should someone be injured on your property or, God forbid, you are accused of starting a fire.
  • Loss-of-use should you be put out of your condo or townhouse due to, for example, a fire or a bursting pipe. This coverage can pay for rent on a temporary residence and other incidentals. (You will still be responsible for your mortgage.)
  • Loss assessment should your HOA assess individual homeowners to pay the costs of a claim. Please read this story!
  • Sewer water backup.
  • Other potential exposures.

Bundling your condo or townhouse policy with your auto policy will almost always result in savings on premium.

To learn more, please call me.

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