With a condo, you own the living space and the interior walls, but not the outer shell of the building. A Condo is sort of a cross between renting and homeownership, so insurance can get complicated because of that. The HBW Insurance Group in Catonsville, MD is here to help you sort out your insurance needs, and they can be different depending on the type of condo you have.

With a condo, the building owner owns the outer shell and basic infrastructure taps for things like water and electricity. You own everything else. If there were a fire that destroyed the building, the owner’s insurance would cover only the outer shell. You would still have to put in walls and the rest of the structure. Condo insurance is different from homeowners insurance then, in that it goes to the outer shell of the building.

Renters insurance covers contents only, not any of the walls. If you only had renters insurance on your condo and there was a fire you would have to replace the inner walls out of your own pocket.  Keep in mind though, if you are renting a condo, you still only need renters insurance. The difference is whether you own the condo and if you do you will need condo insurance.

The same would apply if you rent out your condo. You would not need to ensure the contents that the Tennant owns in that case.

Contact the HBW Insurance Group in Catonsville, MD for all of your insurance needs. You may contact us by phone or in person. You may also visit our website. We can help you find the insurance that will meet your needs. Current customers are also invited in to make sure they have the coverage they need as situations change over time.