Townhouse Insurance Condo Insurance
AmeriAgency Can Help You figure Out Townhouse vs. Condo Insurance
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First, the only way to find out how a Condo or Townhouse needs to be covered is by reading the homeowners association by-laws and to reading the master policy (if there is a master policy). Are you in Texas?
Townhouse vs. Condo – Ownership
Condo owners only own the interior of their unit. All other areas, including the building exterior, lawn and communal areas, are property of the Homeowners Association (HOA).
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In most town home communities, owners own their unit’s interior and exterior, including the roof, lawn and driveway, but not the communal areas.
Townhouse vs. Condo – Architecture
Condos come in many styles. They may be part of a large high rise, a cul-de-sac of cottages or anything in between. When it comes to architecture, townhouses and condos can vary in style. Condos can be found in various forms, such as tall high-rise buildings or clusters of cottages in a cul-de-sac. The same goes for townhouses, which can range from traditional row houses to more modern designs.
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Town homes are designed in rows, so tenants usually share at least one wall. It’s common for town homes to have two or more stories.
Townhouse vs. Condo – Community
Condominiums often have a community focus with a clubhouse, pool, golf course and/or similar amenity.
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Some townhouse communities offer the same types of amenities as condos, but others are more private.
Townhouse vs. Condo – Homeowners Association Fees
HOA fees for condos are typically higher than townhouses because they pay for exterior upkeep, such as lawn care, trash removal and pest control.
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Townhouse owners pay lower monthly HOA fees because they pay for much of their own upkeep. Certain types of maintenance and trash removal are still handled by the HOA.
Townhouse vs. Condo – Home Insurance Rates
Townhouses may have higher home insurance rates, since most owners need insurance that covers both the exterior and interior.
