If you’ve reached a time in your life when you’re ready to make your living situation a little more permanent you may be trying to decide if home or condo ownership is the best move. While there is not one correct answer to the question you might want to consider some of the differences between the two properties and go with the option that has more pros than cons based on your lifestyle.

For example, are you going to want to take care of all your own landscaping? Do you like knowing that you have extra amenities on site that are maintained for your use – like a pool, gym or tennis courts? Or would you prefer something you’ll remodel over time and continue to invest in as you grow your family?

Then there’s the insurance to also consider. Since you don’t own the entire dwelling of the condo building, you’ll only need to insure your unit and the contents in it. That typically comes at a lower price tag then having to insure a whole property and dwelling as a homeowner. Still, there are aspects of condo insurance you shouldn’t skimp on to remain well protected.

Here are a few insurance coverages to think about whether you’ll ultimately be buying a home or a condo.


Liability coverage is of importance because it covers anyone who visits you at your home or condo should they be injured while there. Naturally, there’s a lot more room for injuries to happen when someone has access to an entire home and yard. As a condo owner, you’d only have to cover injuries that happen within your own unit- not those outdoor common areas so the liability costs might not be as high if the overall cost is a deciding factor.

Personal Property

Regardless of where you live, protecting your valuables is important. Be sure to always take an accurate inventory of your belongings and choose insurance that would be enough to cover you should something happen with these belongings.


Finally, and most importantly, consider your insurance needs to protect the dwelling. As mentioned earlier, the “dwelling” itself will typically cover more area for a home vs. a condo. Be sure that your coverage is enough for a total rebuild of your house if needed and enough to re-do your condos interior should something happen.

Have questions about condo or homeowners insurance? Speak to one of our qualified agents today!