When it comes to housing in Minnesota, both condos and townhouses are popular choices. However, the insurance needs for these two types of homes can be quite different. At SouthPoint Insurance Agency, LLC, we understand these differences and are here to guide you through the process.
Understanding the Difference Between Condo and Townhouse
In a condo, you typically own your unit and share ownership of common areas. In a townhouse, you own your unit and the plot of land it sits on. This fundamental difference in ownership affects the type and amount of insurance you need.
Insurance Needs for Condo Owners in Minnesota
- Building Coverage: Condo insurance typically covers the interior of the unit and personal belongings. The condo association’s policy usually covers the exterior and common areas.
- Liability Coverage: This protects you if someone is injured in your unit or if you accidentally damage another unit.
Insurance Needs for Townhouse Owners in Minnesota
- Building Coverage: Townhouse insurance typically covers both the interior and exterior of the unit, as well as any yard or outdoor structures.
- Liability Coverage: Like condo insurance, this protects you if someone is injured on your property or if you accidentally damage another unit.
Choosing the Right Insurance with SouthPoint Insurance Agency, LLC
Whether you own a condo or a townhouse in Minnesota, SouthPoint Insurance Agency, LLC can help you navigate your insurance needs. Contact us today to ensure you have the right coverage for your home.
