All You Need to Know About Condo Insurance

Despite the recent rise in the number of condominiums and subsequently a rise in the demand for condo insurance in California, most Californians seem to be unaware about the differences in insuring a house and insuring a condo. Even though these policies characteristically cover similar things, they differ a lot in terms of coverage. The differences are principally founded on the structure of the home.

Home Insurance  v  Condo Insurance in California – the Differences

Condo Insurance in California



The key difference between insuring a condo and a house is based on the area and parts of a property. For a homeowner, he/she is responsible for all parts of the house. This consists of everything in the property (doors, windows, and possessions), its construction and also the land where the house is built. On the other hand, for a condo owner, they are only responsible for the spaces within their walls. Everything other than that –lobbies, staircases, shared areas, etc. are generally covered by a shared homeowners-association insurance plan. Hence, homeowners’ insurance in California, involves a lot more details and subcategories.

Dwelling Coverage

Dwelling coverage in a homeowners’ insurance policy covers the home – walls, entry points, lawn, roofs, windows, ceiling, flooring, and so on. In addition, it covers outdoor constructions like swimming pools, cabins, car-garages, and fences. Homeowners are accountable for any construction on their land along with the home itself. Condo owners, in contrast, do not hold such accountability. Condo insurance in California offers dwelling coverage only on the condo; all other external structures are not required to be covered.

Liability Coverage

A condo owner can get away with small liability coverage since the accountability is reduced compared to homeowners’ insurance. However, it is recommended to have liability coverage as big as a regular home because, in the case of an accident or harmful event, extensive liability coverage would be extremely helpful. Homeowners often shop for low-cost home insurance quotes in CA and in most cases; they are successful in finding affordable liability coverage. Condo owners should do the same.

Why Is Condo Insurance So Necessary?

A condo owner’s insurance policy needs to cover his –

  • private possessions
  • appliances
  • installed materials (for e.g. home theatre system, etc,)
  • other attached structures in the apartment

It is crucial to protect these items from unforeseen events such as a burglary, a fire or an earthquake. In such a situation, to get the full advantage of condo insurance in California the owner will be required to file a claim with the concerned insurance agency along with the condominium association’s insurance agency.

A condo insurance policy, commonly known as an HO-6 insurance policy is relatively low cost in California. Taking the service of the best home insurance agency in California will help condo owners to secure a yearly policy pack for the amount of $470. There can be variations to this amount depending on the coverage limitations.

HO4 Insurance Policy

HO4 falls under of the Insurance Services Office, Inc. (ISO). This policy is designed to help renters. It offers no coverage for the house’s physical structure or dwelling. It is designed to protect tenants from the liability hazards of physical injury or property/possession damage caused by negligence or other causes mentioned in the policy.

Dedicated to providing the best assistance regarding condo insurance in California, Promax Insurance Agency has become a strong associate for all of its customers by providing the best policies at the affordable rates. At present, the company operates in the following cities and counties –  Aliso Viejo, Anaheim, Brea, Buena Park, Cerritos, Chino, Costa Mesa, Corona, Cypress, Dana Point, Fountain Valley, Fullerton, Fontana, Garden Grove, Huntington Beach, Irvine, La Habra, La Palma, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Forest, Long Beach, Los Alamitos, Mission Viejo, Newport Beach, Orange, Placentia, Pomona, Rancho Santa Margarita, San Clemente, San Juan Capistrano, Santa Ana, Seal Beach, Stanton, Tustin, Villa Park, Westminster, Yorba Linda, Los Angeles, Riverside, Orange County, San Bernardino, San Diego, Sacramento, Sunnyvale, Santa Barbara, Santa Clara, San Luis Obispo, Fresno, Monterey, Whittier, Norwalk and Southern California.