Townhouse Insurance in Georgia
I just bought a new townhouse, what kind of insurance do I need?
The kind of insurance you need for your townhouse depends on whether there is a Homeowner’s Association Master Policy. There are two main types of homeowner’s insurance policies, we will cover both.
- HO-6 – This is commonly referred to as a condo policy
- HO-3 – This is commonly referred to as a normal homeowner’s policy
If there is a master policy, you will need to check the bylaws to find out what exactly you are responsible for. The master policy will likely cover the frame of the building, common areas, and the physical exterior (outer walls and roof).
If your townhouse HAS a homeowner’s association master policy? Visit our condo insurance page to find out more about!
Just because your community has an HOA or even a master policy this DOES NOT mean that the master policy necessarily covers your townhome. Some Associations put a master policy in place just to take care of common areas/buildings (ex. Gym or pool) so don’t let that fool you into thinking you have coverage.
No HOA Present
On occasion, some townhome complexes do NOT have a homeowner’s association with a master policy. This means that YOU are responsible for covering the exterior structure, interior structure, and all its contents. You will need an HO-3 commonly referred to as the normal home insurance policy!
It is very important to check with the homeowner’s association and to read the bylaws OR something we offer at North Point Insurance Group is to do the research for you! We will find out who wrote the master policy for the HOA and call the insurance company directly to clarify coverage FOR YOU!
Check out our Home Insurance page to learn all about an HO-3 homeowners’ policy!
If you can’t figure out which type of policy you need by asking your realtor, you should always LET US do the research for you to ensure you purchase the right kind of insurance!