Which Policy Do I Need?

Free Insurance Quote Comparison

 Secured with SHA-256 Encryption

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...

Full Bio →

Written by

UPDATED: Feb 23, 2012

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

Insurance Question from Arcadia Lakes, SC

Asked on 02/23/2012

Which Policy Do I Need? My daughter lives in a condo which is in my name. She has renter's insurance for her personal belongings. What type of policy do I need?

Answer given on February 24, 2012

Since you own the condo, butit is rented out, you need a rental condominium policy. This policy will cover your interest in the building (which is generally bare walls in) as well as liability coverage. If you have any personal property in the unit, such as a washer/dryer and a refrigerator, you can add personal property insurance. Talk to your agent or broker about how much building coverage you need, so you are properly insured in the event of a major loss. The CC&Rs (Conditions, covenants and restrictions) indicate who is responsible for what part of the unit. Do NOT rely on the policy for the Association as to what is covered. The CC&Rs indicate who has an insurable interest in what part, not the insurance policy.Since the tenant is your daughter, you may be able to insure the condo as owner occupied and it would cover you and your daughter for building and personal property. Check with your insurance company to see if they will allow this. If they do, the costs should be reduced.


IMPORTANT NOTICE: These answers are for general information purposes only and are provided by the person answering and FreeAdvice.com AS IS. It has not necessarily been reviewed by the management staff of FreeAdvice.com nor is it binding any insurance agent, broker, or other insurance professional or any attorney or insurance company. Insurance laws, regulations and practices vary from state to state and insurance policies and practices differ from company to company, by type of policy, by state and locality and by type of insurance. Tiny variations in the facts, policy language or a detail not set forth in a question often can change the outcome or a professional's conclusion. Although FreeAdvice.com has confirmed that the answer(s) was/were provided for the account of an experienced insurance professional, that professional may not be licensed in the state referred to in the question, and may not be experienced or up to date in the subject area. Unlike the answers provided here, upon which you should NOT rely, for personal advice you can rely upon we suggest you consult a licensed insurance professional in your area or retain a licensed attorney listed on AttorneyPages.com to represent you.

Free Insurance Quote Comparison

Enter your ZIP code below to compare cheap insurance rates.

 Secured with SHA-256 Encryption