Townhouse insurance can be written in one of two ways, either as a single-family home or as a condo. The key to knowing which way to write the policy is determined by the homeowner association policy.
I wrote about condominiums and condo insurance last week and this week, I wanted to follow that up with an overview on town house insurance. The reason for addressing town houses as a distinct home type is they have elements of a traditional single family home. They also share something in common with condominiums as they have a mandatory homeowner’s association and are usually found in highly planned communities.
?Is a town home a house, a condo or something else? Since we’re discussing it from an insurance standpoint (we’ll ignore the real estate perspective), town homes can be viewed as;
A single family home (yes, even if it’s connected on both sides to neighbors)
It can also be viewed as a condo
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