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Condo and Renters Insurance - Is there a Difference?

Mar, 26
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condo insurance renters insurance

Especially in Southwest Florida where we have natural weather issues such as hurricanes and fire dangers, it’s vital to make sure your assets are protected no matter where you live, condo, house, townhouse, or apartment. The fact is that dwellings sustain damage and it can happen in the blink of an eye. It’s vital to be prepared.

When we speak with one another the terms of condo and apartment are often interchangeable but in the realm of insurance, they are two distinctly different categories.

Let’s distinguish the difference between the two

Condominiums: A condo is a unit of a collective housing where each condo owner retains separate ownership to their unit as well as all of the shared common areas. The main difference, between condos and individual homes beside the usual format of interconnected buildings, are that the land itself is owned collectively by shareholders. All condominium structures are governed by an association. The condo association regulates and controls all of the finances, collect association fees, and allocate for all needed repairs or builds.

Apartment Buildings: in juxtaposition, apartment buildings carry a single deed of trust for the entire building vs. each unit like a condo.

In both cases, content insurance is a must. After all if a fire, theft, flip and fall, hurricane, flood, or other incident were to happen on your property you want to be able to cover the expenses of replacement, rebuilding, or even potential liability for medical bills.

Centennial Insurance Services offers both renters insurance and condo insurance at great rates. At Centennial Insurance Services, there is no complicated process. We believe in making it simple. We will analyze your insurance concerns, and together with our reliable staff, offer the best insurance policy available. Please contact our office at 239-247-5125 for more information or to speak to one of our agents today. www.cisinsfl.com.