About the Publisher
Bo Kauffmann is a residential real estate agent with over 18 yrs experience in helping buyers and sellers achieve their goals. Inducted into the REMAX Hall of Fame in 2010 and receiving the REMAX Lifetime Achievement Award in 2019, Bo has sold over 500 houses and condos in the Greater Winnipeg market. He is an accredited buyer representative (A.B.R.) and a Luxury Home Marketing Specialist. Bo provides exceptional service to First-Time Home-Buyers, Seniors looking to downsize and Home Sellers of all ages. He can be reached easily By E-Mail or call/text him Call/Text HereNever miss an episode of our real estate podcast. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to install our iOS App. For your Android Devices, click here to install our Android App. Check my videos on Youtube
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Burt
I am in the market to purchase a condo, so this advice comes right on time. You are very knowledgeable in your field. I will be contacting you for home buying assistance.
Herrand
Great advice about apartment condo insurance. One thing tho, there is this error on your site where this statement is: Did you find this answer helpful?
It’s just showing this code:
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Bo Kauffmann
Thank you for commenting, AND for pointing out this issue. Will fix right away.
Mutherspaw
Home insurance is a must-have for any live-in property imo. My valuables are too important for me to risk going unprotected!
Chell
Ok I didn’t know that the condo corporation only insures the building and not your personal belonging. This is something that no one really ever explains. Thanks for explaining!
Kevin M
Thanks. I always wondered how insurance works with condo fees. I am still a bit confused though
Bob L
I don’t know that Condo Corp only insures only the original building. I must have to purchase my own insurance and for my personal belongings. Thanks for the advice.
Norton
Home insurance for Condo is very essential as you said. I’m going to buy a new condo next month and I think your tips will be very helpful to me! Thanks!
Cassandra
Excellent advice. Something every homeowner (condo owner) should be aware of. I wonder if some of these condo complexes or maybe the Realtor could educate a buyer on proper insurance before the sale? That way the buyer is aware of any additional expense they may encounter. Offer a class! I bet people would attend!
Mahmood Hassan
What is the rate of the condo insurance for the first time buyer. It is same as the house insurance in terms of security and rates. What is the difference between the house insurance and condo insurance in terms of benefits.
Bo Kauffmann
Condo Insurance is roughly 30% as much as house insurance. The house insurance covers the building, while condo insurance just covers your liability, personal property inside the condo, but not the building itself.
Evan
For a first time buyer, can I expect insurance to be pretty high when I am purchasing a condo?
Bo Kauffmann
Hi Evan….quite on the contrary. “Condo Insurance” is significantly cheaper than house insurance. Simple reason is that in the case of the condo, it will usually be insured by the condo-corporation. (This is normally true for high-rise condos, but not necessarily for townhome or stand-alone condos, so be sure to check with your insurance company)