When shopping for homeowners insurance, many people focus on location, coverage limits, or claims history—but one key factor often flies under the radar: your property type. Whether you live in a single-family house, condo, townhouse, or manufactured home, your property type significantly influences how much you’ll pay for coverage. Here’s why.

1. Construction Materials and Risk Levels

Different property types are often built with varying materials, and that affects risk and cost. For example:

• Single-family homes may use wood framing, which is more flammable than brick or concrete, potentially raising premiums.
  
• Condominiums often have concrete or steel structures, which are more fire- and weather-resistant, potentially reducing risk.
  
• Manufactured homes (mobile homes) can be more susceptible to wind and weather damage, which may result in higher premiums.

2. Maintenance Responsibility

Insurers assess risk based on who is responsible for maintaining the property.

• Homeowners of single-family houses are fully responsible for all maintenance, meaning insurers might consider a higher risk of neglect or damage.
  
• Condo owners usually only insure the interior of their unit; the building exterior is typically maintained by a condo association. This limited scope of coverage can result in lower premiums.
  
• Townhomes fall somewhere in between, depending on how the property is structured and what the HOA covers.

3. Coverage Needs Vary

Different types of homes require different policy structures:

• Single-family homes need full dwelling coverage.
  
• Condos usually require an HO-6 policy, which primarily covers the interior (walls-in).
  
• Manufactured homes often need specialized policies due to their unique risks.

Insurers tailor the policy type and pricing based on what’s being protected.

4. Location and Property Type Combinations

Certain property types are more common in particular regions, which affects how insurers evaluate risk:

• Beachfront condos may face higher premiums due to storm or flood risk.
  
• Rural single-family homes might have higher fire risk due to limited access to emergency services.
  
• Urban rowhouses or townhomes may benefit from proximity to fire stations and hydrants, reducing premiums.
  
  

5. Security and Risk Mitigation

Insurance companies reward properties that present lower risks:

• Condos and gated townhome communities may offer better security, fire sprinklers, and on-site personnel, helping to lower premiums.
  
• Standalone homes may require additional safety features (alarm systems, fire extinguishers) to qualify for similar discounts.
  
  

Bottom Line:

Your property type directly affects how you are insured. Understanding the nuances between different types of properties can help you choose the right coverage and even find ways to lower your premium.

Make sure you’re always transparent with your insurer about your property type and its features. And don’t hesitate to shop around—some insurers specialize in certain property types and may offer more competitive rates.

Finding a competitive policy that maximizes your coverage based on your property type doesn’t have to be hard. Get a quote and speak to an agent today to see offers that could save you money, and choose the coverage that’s right for you.