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lilacwine
only love...
Member since 5/05 2034 total posts
Name:
<3
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Condo/co-op owners: homeowners ins
If you're in a condo or co-op, how much is your homeowners' insurance?
thanks!
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Posted 2/13/07 10:24 AM  |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Condo/co-op owners: homeowners ins
Usually it is provided thru the condo association or co-op board, however you might want to get a contents policy to cover what your H/O insurance policy doesnt cover. You can get one to cover all of your furniture, appliances, kitchen cabinets etc. as those things will usually not be included in the coverage thru the association.
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| Posted 2/13/07 11:10 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Condo/co-op owners: homeowners ins
I paid $250 per year for mine
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| Posted 2/13/07 11:18 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Condo/co-op owners: homeowners ins
actually, we are moving into a condo in Woodgate Village in Holbrook and our homeowner's insurance will be $267 per year from Nationwide. We got 20% because we are getting an alarm and 5% off because our auto is there. They aren't taking any new policies unless you have any previous policies through them.
Lululu, homeowner's insurance IS NOT included in a condo/townhouse association. That I know for 100%. Co-op's might be different.
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| Posted 2/13/07 11:20 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Condo/co-op owners: homeowners ins
Posted by Beth1210
I paid $250 per year for mine
ETA- in Queens with All state- that way they will take a home owners policey from me
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| Posted 2/13/07 11:25 AM |
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metsgirlie
How did you get blue eyes?
Member since 11/05 3763 total posts
Name:
LC's Mommy
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Re: Condo/co-op owners: homeowners ins
I own a co-op and paid less than $200 through Allstate. We also have our car insurance through them so I think we got a discount.
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| Posted 2/13/07 12:31 PM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Condo/co-op owners: homeowners ins
We paid about $125 for a homeowners policy for our co-op.
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| Posted 2/13/07 4:39 PM |
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jodi714
Love my little girl!
Member since 2/06 3621 total posts
Name:
Jodi
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Re: Condo/co-op owners: homeowners ins
We have a condo and ours is $450 per year. It covers from the sheet rock in as well as $1 mil if damage is caused to someone elses unit due to a problem in ours (fire, leak, etc.). Part of that cost is also the rider for my engagement ring. our Condo association has a separate policy to cover common areas/roofs/etc.
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| Posted 2/13/07 4:59 PM |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Condo/co-op owners: homeowners ins
Posted by kerrycec03
actually, we are moving into a condo in Woodgate Village in Holbrook and our homeowner's insurance will be $267 per year from Nationwide. We got 20% because we are getting an alarm and 5% off because our auto is there. They aren't taking any new policies unless you have any previous policies through them.
Lululu, homeowner's insurance IS NOT included in a condo/townhouse association. That I know for 100%. Co-op's might be different.
I lived in a condo in NJ and my husband lived in a condo on Long Island. In both cases, the homeowners insurance was provided thru the condo association. I am 100% sure of this because I was on the board of my condo association and I was responsible for getting the policy. The outside structure of your home is almost always covered by the condo association policy. This is the only insurance requirement for your mortgage.
What you have is probably a contents policy for all of the things inside the walls of your condo (cabinets, appliances, furniture, etc.). The outside structure is *usually* covered by the association as part of your association dues. I believe your insurance would be a LOT higher if you had to pay for the outside structure as well.
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| Posted 2/13/07 5:05 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Condo/co-op owners: homeowners ins
in FL- my Dad only needs insurance for the inside of his condo
eveything up to the dry wall is covered by his maintaince fee
and that is all my co-op polciey covers- my furniture and personal stuff- not the actual unit
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| Posted 2/13/07 5:13 PM |
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jodi714
Love my little girl!
Member since 2/06 3621 total posts
Name:
Jodi
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Re: Condo/co-op owners: homeowners ins
Posted by lululu
Posted by kerrycec03
actually, we are moving into a condo in Woodgate Village in Holbrook and our homeowner's insurance will be $267 per year from Nationwide. We got 20% because we are getting an alarm and 5% off because our auto is there. They aren't taking any new policies unless you have any previous policies through them.
Lululu, homeowner's insurance IS NOT included in a condo/townhouse association. That I know for 100%. Co-op's might be different.
I lived in a condo in NJ and my husband lived in a condo on Long Island. In both cases, the homeowners insurance was provided thru the condo association. I am 100% sure of this because I was on the board of my condo association and I was responsible for getting the policy. The outside structure of your home is almost always covered by the condo association policy. This is the only insurance requirement for your mortgage.
What you have is probably a contents policy for all of the things inside the walls of your condo (cabinets, appliances, furniture, etc.). The outside structure is *usually* covered by the association as part of your association dues. I believe your insurance would be a LOT higher if you had to pay for the outside structure as well.
That was true for us to...in order to get the mortgage, we were only REQUIRED to show the condo association's proof of insurance for the the outside stuff. BUT, you should get insurance not only for your personal belongings but also if there is damage to your unit or someone else's due to a problem originating in your unit. Let's say your diswasher leaks or floodsand creates water damage in the unit below you, the condo association will NOT cover that...you or your insurance would have. Defiitely get more than just coverage for the personal belongings!
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| Posted 2/13/07 5:21 PM |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Condo/co-op owners: homeowners ins
I agree - it is prudent to have insurance in addition to what is provided for you by the condo association and required for your mortgage.
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| Posted 2/13/07 5:29 PM |
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LauderLady
LIF Toddler
Member since 6/05 380 total posts
Name:
Me
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Re: Condo/co-op owners: homeowners ins
We pay $275/ year through Allstate.
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| Posted 2/13/07 10:22 PM |
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astroqueen74
Vibrant Health
Member since 1/07 2822 total posts
Name:
Karina
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Re: Condo/co-op owners: homeowners ins
Ours is $256.00 for a Condo.
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| Posted 2/13/07 11:03 PM |
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MrsKelly
just hangin' around...
Member since 11/06 6305 total posts
Name:
Krista
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Re: Condo/co-op owners: homeowners ins
ours is just under 350/year
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| Posted 2/14/07 8:35 AM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: Condo/co-op owners: homeowners ins
Ours is about $300 for our unit.
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| Posted 2/14/07 10:32 AM |
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Leeners
:)
Member since 5/05 4898 total posts
Name:
Eileen
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Re: Condo/co-op owners: homeowners ins
Posted by metsgirlie
I own a co-op and paid less than $200 through Allstate. We also have our car insurance through them so I think we got a discount.
Allstate here too, in Queens and with our car insurance. I just paid $94 at the end of December and I thought it was for the whole year but reading everyone else's posts, maybe that was only six months  Either way, it's either just under $100 or just under $200 for the year.
ETS: this is personal insurance, not the actual 'home' insurance. That's what the cooperative has to provide for you in order to even get a mortgage since you don't own the walls. I'd imagine it's different for a condo.
Message edited 2/14/2007 12:28:14 PM.
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| Posted 2/14/07 12:27 PM |
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