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?
What do you think? Answer below!