Four Things To Know About An HOA And Homeowners Insurance
Owning a home means that you are going to need home insurance; however, these needs are going to vary depending on what type of home you are living in, especially in an HOA type of situation. This is because in an HOA, the association will have some insurance coverage for the property while you need to cover the rest. Here are four things you should know specifically about this:
A Single-Family Home is Different Than a Multi-Family: If you live in a single-family home without a homeowners association, you are still going to need the traditional homeowners insurance since the HOA only covers damage to the community, not your dwelling at all.