Property Insurance Coverage

1 Reply

Hello BP Fam!

I am under contract for my first property- 210K- 2/2 condo in Decatur, GA and looking for a general consensus on what to include in my property insurance coverage.

Aside from personal property and family liability protection, the agent mentioned the regular coverage for building property is 20% of purchase price.

Quote includes: Building property 45,000; Loss Assessments 25,000; Building Codes 20%. There is an HOA which should cover everything outside the Unit. Is this standard?

Would love to hear other peoples thoughts, personal experiences, advice, etc.


You need to review the HOA master policy to see what you need. If you are getting a loan you must have a HO6 policy if the master doesn't cover walls in. Every condo may have some different configuration of coverage. If you have an experienced lender that can guide you AND contact the agent who covers your automobile- bundling will save some money.