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homeowner vs condo insurance

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buckster13

Junior Member
What is the name of your state? NJ

About to purchase a vacation home in NJ, just found out that the Title is in the name of a condo association. This association consists of myself and the person who owns the other half of what I would describe as a side by side twin home. As I didn't know about the condo thing, I went out a got homeowners insurance ($450/yr full policy). As we are about to go to settlement I see that I have to pay the pro-rated portion of an existing condo insurance policy ($ 2000/yr not including personnel valuables). There is no condo fee, or condo association except on the Title.

Here is my question, can I (we) simply get homeowners insurance on our homes or do we have to have "condo" insurance? There is no common area in the homes and a firewall between. Also, why is the condo policy so much more expensive when the dollars on the payout are the same?
 



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