How much dwelling insurance do I need for a condo?

Question by A M: How much dwelling insurance do I need for a condo?
Instructions from my lender says that my homeowner‘s insurance must cover “the entire loan amount“. However, I suspect that this is for single family homes only, as my condo‘s HOA insurance will cover everything from my walls outward. Also, when I tried getting a quote from major companies such as GEICO, they would not even offer dwelling insurance as high as my loan amount. How much dwelling insurance should I get for a condo purchased at $ 150K?

Best answer:

Answer by jennalu
read your HOA rules as they will enlighten you as to what is covered by their insurance. meet with your homeowner‘s insurance rep to discuss the cost of covering the rest.

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