How does condo insurance differ from other types of home insurance?

When you visit Presley Insurance Group to insure your Dallas, TX condo, you’ll learn that condo insurance differs from the other seven types of home insurance.

Condo insurance provides what the insurance industry refers to as “walls, in coverage,” which means that it insures the interior walls of your condominium and everything inside of it. Your condo policy covers your TV, computer, kitchen cabinets, toilet, clothes, shoes, etc. The condo policy provides property damage coverage and structural damage coverage.

You also get liability coverage with your condo insurance. Your condo policy covers their medical costs if your friend falls while getting out of your shower and breaks their arm.

So far, this probably sounds just like homeowners’ insurance or perhaps close to renters’ insurance. The latter would not cover physical damage to your domicile, though. It would only pay to replace the contents of your domicile. Homeowners’ insurance would also cover liability damage outside your domicile, and condo insurance does not do that.

If your friend fell by the pool outside your condo but within the confines of the condo complex, your complex’s liability policy would cover their injury. That’s a “walls, out coverage.” Once outside your condo’s front or back door and on another person or organization’s property, their insurance covers the injury.

Your condo policy covers if your buddy’s computer got stolen from inside your condo. If their computer got stolen while the two of you were using the complex’s business center, the condo complex’s insurance policy covers the loss.

While your condo policy does qualify as one of the eight types of home insurance, it does not cover all of the same items that a homeowners’ insurance policy does. Contact Presley Insurance Group serving Dallas, TX to insure your condo, so you can protect your domicile and all that you keep in it, plus the individuals who visit it.