When it comes to living in shared spaces, such as a condominium or even a community, there are usually homeowners association’s rules, fees, and so on. It is different from owning the standard single-family home, and the homeowners’ insurance is different from the homeowners’ insurance for the standard home. So, it is imperative to know what the homeowners’ association (HOA) usually covers.

HOA Insurance Coverage

Part of your HOA dues cover insurance for shared spaces, and thus, it is referred to as liability home insurance for those areas. The following includes what it usually covers:

• Yard Space
• Swimming Pools
• Tennis Courts
• Playgrounds
• The Shared Wall of Tenants
• The Lobby
• Any Part of the Property Shared by the Tenants (the business center, laundromat, etc.)

The bottom line is that practically any shared Tenants’ areas are usually covered by the homeowners’ HOA insurance. So, while the wall that divides your condo and your next-door neighbor’s condo, for instance, may be covered through the HOA, your personal belongings in your home are not covered by this home insurance. 

Ensuring Accurate Coverage for Your Home

Now that you know what your HOA will typically cover, it’s time to do two things: One is to ensure you find out for sure the details in what your HOA covers in your vicinity. Secondly, it is imperative you work with a top-notch, reliable, professional, and experienced insurance company to ensure your home is adequately covered.

All homeowners’ insurance policies don’t fit the one-size-fits-all rule even if you stay in the same building as another tenant. One reason is due to the differences in each other’s personal belongings. For instance, one of you may have more luxury items than the other, so the one with more luxury items might’ve added more coverage to ensure these items are covered. 

To ensure your home is properly covered, contact Insurance Over Texas in Houston, TX today. Insurance Over Texas has been serving the Houston, TX and surrounding areas for more than 30 years now. We are a family-owned and operated agency that specializes in home and auto insurance. Furthermore, we have a full array of home insurance coverage options to meet every homeowner’s needs. So, go ahead and contact us now!  

Condo insurance is very similar to a homeowner’s policy except it is essential for a condo owner to understand how their condo insurance policy will work with the master insurance policy carried by the condo association. If you are a condo owner in the Houston, TX area and have questions about your condo policy, reach out to a specialist at Insurance Over Texas today. 

The first element of condo insurance is the master insurance policy provided by the condo association. The master policy insures the building structure along with any common areas, such as the lobby, courtyard, swimming pool, and fitness center. 

There are a few different types of master policies. Condo owners should know what their building carries to determine what sort of coverage they need to fill in any coverage gaps.

• Bare walls coverage: A bare wall policy will cover the walls, floor, and ceiling. If your condo carries this type of policy, you will need to make sure your policy covers the appliances, light fixtures, plumbing, and the cabinets in the kitchen. 
• Single entity insurance: A single entity policy is very similar to a bare walls policy except that it also includes the fixtures. It is crucial to keep in mind that if damage were to occur, this policy would restore the fixtures to the original condition when the property was built. If you have new fixtures, you may want to consider having replacement coverage under your policy instead. 
• All-in Coverage: All in coverage is the most comprehensive policy the association can carry. All-in coverage covers what is covered under the single entity policy but extends to cover any additions or improvements that have been made to the condo. In the event your building has All-in coverage, you will need to cover your personal property. 

If you are interested in learning more about condo insurance, make an appointment with Insurance Over Texas today. We proudly serve the Houston, TX, area. 

Condominium insurance can be confusing when it comes to knowing whose insurance is responsible for different types of damage. If you live in a condo, you should have your own insurance in addition to that provided by your Condominium Owners Association (COA) because of the limitations that their policy will have in the event of damage to your unit. The team at Insurance Over Texas is here to help condo owners in the greater Houston, TX area find the right policy to meet their needs. Don’t be fooled by the COA policy that is in place as this will not provide coverage for damage to your unit.

Don’t let your negligent neighbors ruin your condo!

You may be surprised to learn that in most instances you can be held responsible for damage to your condo even if it is caused by a negligent neighbor! While this may seem unfair, it is typically how condo boards operate. When you live in a multi-family dwelling such as a condo, it is vital that you have adequate coverage in place. Your COA insurance protection is typically limited to the common areas of your building and will not cover an event that occurs within your unit. If you are unfortunate enough to have negligent neighbors, your coverage is even more critical. Make sure that you have comprehensive condo insurance in-place at adequate coverage levels to make sure that your home and belongings are covered.

Is it time to review your condo policy for completeness? If you are in the greater Houston, TX area and want to make sure that your condo insurance policy will provide the protection you need, call or stop Insurance Over Texas today for a policy review. We can help you find the most appropriate coverage to meet your needs.