How Much Is Condo Renters Insurance?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   There isn’t such a thing as a condo-renters policy. If you own the condo, then you need the condo form of a homeowner’s policy. If you are renting a unit regardless of how the title to the unit is held, you need a tenant’s policy (commonly called a “renter’s policy.) The Condo form is for the owner of the unit and has similar coverages to as standard homeowner’s policy except that there isn’t coverage for the building. The building is covered by a condominium master policy. The tenant’s policy covers the possessions of the renter. That form is the same regardless of whether it is a condo or an apartment.

   Answered on April 15, 2015

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