Condo Insurance, part 2: Bareland Condos
Bareland Condos come in a variety of shapes and sizes. In many cases they are detached buildings or duplexes that make up a larger complex. A condo unit owner owns a whole house, inside and out. The condo corporation owns the land and is often only responsible for land or street maintenance.
Buying insurance for your bareland condo is often different than for a regular condo. You will need to confirm who’s in charge of insuring the building. If you are, you will need to insure your whole house for the value it would take to rebuild it. If the condo corporation insures the building, you may only need to buy a regular condo insurance package (see Condo Insurance, part 1: More Than Just Contents). Contact us for more information!