The Differences Between Condo Insurance and Home Insurance

Homeowners who are buying their first condo may wonder if the insurance requirements are different when compared to insuring a home. The answer is that they are. Condominiums are different from homes because they may share walls, ceilings, and floors with other condos. They also share the common areas. The insurance risks are shared too.

Master Insurance Policy

When considering condo insurance consult with an agent at CO Insurance Specialist serving Wheat Ridge, CO, and the surrounding area. Be sure to request a copy of any master insurance policy that covers the condominium building and property, so you can share this policy with your insurance agent.

The building owner should be able to provide a copy of this master insurance policy or if there is a management company or a condominium owners’ association (COA), ask them for a copy.

Individual Condo Policy

For adequate coverage, your individual condo insurance policy picks up where the master insurance policy stops. Many types of damage may be covered in part by the master policy, perhaps in part by another condo owner, and perhaps in part by your condo insurance.

A slip and fall accident illustrates one difference between home insurance and condo insurance. For a homeowner, if someone falls anywhere on their property there may be a claim made be made against their home insurance. 

For a condominium owner, if someone falls in the common areas of the condominium property the master insurance policy for the condominium building is the one that may see the claim. If someone falls inside the condo then the individual condo policy may be responsible for the claim.


To make sure you have adequate condo insurance get an insurance review with the help of your agent at CO Insurance Specialist in Wheat Ridge, CO. Talk about the details and have your agent look for gaps where coverage may be missing.  Be sure to discuss the benefits of having replacement cost coverage and sufficient protection for personal property in your condominium.