{"id":179994,"date":"2024-07-10T09:30:00","date_gmt":"2024-07-10T13:30:00","guid":{"rendered":"https:\/\/milesopedia.com\/?p=179994"},"modified":"2024-08-30T10:23:41","modified_gmt":"2024-08-30T14:23:41","slug":"condo-vs-house-insurance-canada","status":"publish","type":"post","link":"https:\/\/milesopedia.com\/en\/personal-finance\/insurance\/condo-vs-house-insurance-canada\/","title":{"rendered":"Condo insurance vs. home insurance: What’s the difference?"},"content":{"rendered":"

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One of the most important distinctions between condo insurance<\/a> and home insurance<\/a> is the amount of coverage required. As a homeowner, you are responsible for the interior and exterior, the grounds and the detached structures of your property. On the other hand, when you own a condo, you are generally only responsible for the interior of your unit and your personal belongings. That said, there are other differences between the two, such as insurance coverage for improvements made to your condo. In this article, we explain these differences, as well as the different insurance coverages available to protect your property and personal belongings<\/a>.<\/p>\n

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<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/div>[\/vc_column][vc_column][vc_custom_heading text=”What is condo insurance?” css=”” el_id=”what_is_condo_insurance_”][vc_column_text css=”” el_class=”checkmarks”]<\/p>\n

Condo insurance<\/a> and home insurance<\/a> are similar, but there are important differences. Firstly, the condo corporation’s insurance covers the building and common areas. While your condo insurance policy protects your unit and your personal belongings. In addition, condo insurance includes special protections such as insurance coverage for improvements made to your condo.<\/p>\n

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Condo insurance<\/a> covers your condominium unit, your personal belongings<\/a>, your storage unit, as well as civil liability, which protects you against legal action if someone is injured in your condo.<\/p>\n

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Condo insurance covers the following in the event of loss or damage following a covered loss such as a fire:<\/p>\n