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Are you looking at buying your first condo and have questions about how insurance on a condo differs from a free-standing home insurance policy? With the proliferation of condos construction in Northern Colorado, we are getting more and more questions about condo insurance. This blog series blog will serve as an introduction to this topic.

If you are in the market and have more questions, do not hesitate to call our office in Greeley and one of our independent insurance agents would be happy to answer any and all questions you may have.

Condominium Basics

First off, let’s review what a defines a condo. According to, a condo, or condominium, is an “an apartment house, office building, or other multiple-unit complex, the units of which are individually owned, each owner receiving a recordable deed to the individual unit purchased, including the right to sell, mortgage, etc., that unit and sharing in joint ownership of any common grounds, passageways, etc”.

Most condo communities have an HOA that takes responsibility for common areas such as the exterior of the units, a pool house, a gym, sidewalks and lawns. The money the collect on a monthly or yearly basis is used for these purposes. Another responsibility the HOA handles is the insurance coverage of the condos that covers the outer shell of the condo units. This is known as studs-out insurance.

Check back next week to learn more of the basics of condo insurance. Call to speak to an independent insurance agent today.