how do I determing how much dwelling coverage I need for my condo

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Oct 5, 2010

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Insurance Question from Call, NC

Asked on 10/05/2010

how do I determing how much dwelling coverage I need for my condo NULL

Answer given on October 10, 2010

Condominiums are covered in two ways.  The Homeowner Association (HOA) covers a portion of the building and the unit owners cover the remainder.  It is best for you to review the CC&Rs (Conditions, Covenants & Restrictions) for the association.  You might also ask your insurance agent to review them for a second opinion.  The CC&Rs outline what the association is responsible to insure.  In many cases the HOA is responsible for the building to the bare walls.  That would make the unit owner responsible for the bare walls inward.  that includes paint, flooring, bath fixtures (sink, toilet, tub/shower) and the kitchen equipment & counters.  If your association is a “bare walls” type then you need to determine the cost to replace or repair all of the interior of your unit.  Your insurance agent may be able to assist you with determining these costs, or you could talk to a contractor for their estimate of the costs. 

Keep in mind you also need to insure your personal property along with the dwelling amount.

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