Condo owners need home insurance, but it is a different type of policy. When you search for instant homeowners insurance quotes online and enter you zip code to proceed to the next part of the process, one of the questions refers to the type of home you have – detached, duplex, condo, etc. When you click condo, you will have a different set of questions to answer regarding the features of your home and the coverage you need.

There are three types of policies for which you can request instant home insurance quotes for condos. The first is an all-risk coverage, which means that you will have home insurance in place to insure your belongings for the risks named in the policy. What most condo owners do not realize about the type of home owner insurance policy they need is that the policy does not cover damages sustained to the exterior walls. This is covered under the insurance policy of the condominium corporation.

Another type of condo home insurance policy for which you can request an instant homeowner insurance quote is one in which you have named perils, that may be different from those in an all risk policy. If your area is prone to floods, for example, you may want to have this peril named in your policy. You may have expensive pieces of electronic equipment for which you need insurance against lightning strikes or power surges. If so, you will need to have this specified in the policy.

In a standard, instant, cheap homeowner insurance quote, your coverage will be for the actual cash value of your belongings. This means that if the interior of your home sustains damages, you will only receive the cash value of your belongings and this will be subject to depreciation. If you have furniture that you purchased some years ago, you will not receive enough money to replace it at today's prices. You do need to make sure the home insurance policy you choose to purchase has replacement value for your belongings so that you will realize enough from the insurance claim to replace all of your possessions.

You can have coverage for a detached private structure on your property included in an instant homeowners insurance quote for condo owners. This would apply to a separate garage or shed. However, the home insurance policy will not provide coverage for anything you have stored inside that detached structure, such as a car or snowmobile. These items must each have their own separate insurance policies.

One thing that you must make sure is included in your instant or free home insurance quotes is the cost of paying for other accommodations if you are unable to live in your home while the repairs are being carried out. Without this clause in any home insurance policy, it could cost you a lot of money to stay in a hotel for a few weeks or to rent an apartment if the damages to your condo are extensive and take some time to complete. Most home insurance policies do have a limit on the amount of expenses covered under this clause.

Personal liability coverage is also essential in home insurance for condo owners. If you accidentally cause damage to the property of another, such as with flooding from broken water pipes that extends into the condo next door, the personal liability coverage will pay for these damages. It will also cover the medical expenses of a person who is injured on your property and the court costs if you are sued over the matter. The typical instant homeowner insurance quote has standard liability coverage of $1 million. It would be in your best interest to up this to at least $2 million.