Condo/Townhouse insurance

that sounds about right. we own a townhouse and pay around that much for insurance.

yes, we pay about that much on our townhouse too. I'll check and see what my development sent around...a few months ago they sent info. around about what kinds of coverage you should be sure to have. If it's anything worthwhile I'll post it.

Having had my neighbor drive through my wall and my neighbor having a pipe freeze, I will say this, know what your development covers in terms of structural damage and what you will have to cover. Then, be sure you have enough to make repairs. It may sound silly but the neighbor's pipe cost more than you might think it would. They weren't home (in PA) and water was filling the place so much that it started to leak into the townhouse next to them.

Ok, here are some things the sheet with info. on 'What every unitowner of a condominium needs to know'.

Typically, the development's master policy will cover whatever the original unit had in the offering plan. Any upgrades or changes need to be covered under your 'Improvements and Betterments'. This happened to us with the car into our kitchen--the development covered the 'original floor' (vinyl) but we had upgraded to a good ceramic tile. So, in replacing this, the development's ins. gave us the money to replace a vinyl floor and ours is covering the upgrade to get good tile back in (though in our case they will both sue the driver to get the money back)! So, be sure to get enough coverage there!

Also, get replacement value on everything...the cost of what you had will most likely depreciated and replacement coverage will cover the full cost to get a new one of something.