Eli5: how does insuring a condo work? Do you get home insurance? What happens if the roof needs to be replaced or other major repairs?

Question

Eli5: how does insuring a condo work? Do you get home insurance? What happens if the roof needs to be replaced or other major repairs?

In: 4

Answer 1

Homeowners wouldn’t recover a roof replacement either if it is due to normal wear. A repair due to storm damage they would cover but repairs are likely to be cheaper than the deductible