Is There a Difference Between Condo and Townhome Insurance Claims in Tampa? - Darryl Davis
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Is There a Difference Between Condo and Townhome Insurance Claims in Tampa?

Townhome Claims in Tampa

Protecting yourself against damages to your property can require a lot of research and consideration. No matter what type of residence you own, you will need to figure out how to handle any insurance claims that you need to make, including townhome insurance claims in Tampa. If you are thinking of buying property, maybe you are deciding between buying a condo or a townhome, and you want to know if there is a big difference in terms of how insurance works for each residence type. Here’s the scoop.

First, Here Is How Condo and Townhome Insurance Claims in Tampa Are Similar

Insurance for a condo and insurance for a townhome are more similar to each other than either is to a stand-alone house. The basic types of coverage tend to be similar for both residence types.

In both cases, you will have to consider insurance for both your own personal property as well as what insurance covers the structure of the building as covered by your condo association. Usually, you only need to buy insurance for your own unit, while your owner’s association pays for the building insurance.

So, What Is the Difference Between Condo and Condo Insurance Claims in Tampa?

Generally, the biggest difference between insurance for these two property types is that the owner of a condo is responsible for only their property within the walls of a condo, while the owner of a townhome is responsible for the ground under the townhouse and the structure of the townhome in some cases. 

Usually, a condo insurance policy is an HO-6, and townhome insurance is an HO-3. An HO-6 policy covers your personal belongings, liability, and protections if you alter the unit. When considering HO-6 policies, you should also take into account making sure that your policy is compatible with the policy held by your condo association. HO-3 insurance is the most common type of home insurance policy. With this policy, a home is protected against any perils unless they are specified as exclusions.   

Who Can Help Me With My Claim?

Whether it is condo or townhome insurance claims in Tampa that you need to file, Daryl Davis & Associates is here to help. We are experienced with all types of insurance claims in South Florida, from wind damage to fire damage and so much more. To get compensated as soon as possible, set up your appointment with us by calling 954-709-3982.