Friday, August 3, 2012
Condo owners have slightly different needs from homeowners or renters. Usually, condo dwellers own their units, which make them similar in a way to homeowners. However, like renters, condo owners have limited liability with regard to damage to their unit. Condo insurance addresses all of these needs, offering physical damage protection of the unit as well as liability coverage. Most condo associations define everything within the external walls of their unit as the owner’s responsibility, which is a nearly impossible financial burden to shoulder without a condo policy.