Condo Unit Owners / HO-6

HO-6 Condo insurance (commonly referred to as Condo Unit Owners or Interior Unit Owners Insurance) is a policy specifically created for condo unit owners, as it provides coverage for your personal belongings, personal liability, and the structural interior of your unit.

• An HO-6 Policy and Master Condominium Insurance work together to protect your property and belongings.

Many condominium owners make the false assumption that their association’s master insurance policy will cover everything inside their units, but in reality, there can be large gaps in coverage leaving unit owners underinsured.

To find out what is covered by the master policy, you should look to the Insurance Section in the association’s governing documents - often referred to as the master deed or condo bylaws. There you will find what is (and what is not) covered by the master insurance policy. Knowing what is not covered determines the amount of certain coverages needed on your HO-6 policy. Because insurance requirements differ from association to association, it’s essential that you review the governing documents for your condo association.

HO-6 COVERAGES

Dwelling - Covers the interior of the unit (walls, ceilings, floors, permanent fixtures, cabinets, etc.) that is not covered by the association's master policy including alterations or improvements made to the unit.

Personal Property - Covers your personal belongings. A unit owner’s personal possessions - such as furniture, electronics, jewelry, appliances, clothing, etc. - are never covered on an association's master policy. 

Loss of Use - Pays for additional living expenses while your home is being repaired.

*If the unit is used as a rental, this can pay you the lost rent if the loss causes your property to become uninhabitable and your tenant must vacate the property.

Personal Liability - Pays for legal and medical bills if you're held liable for injury or personal property damage to someone else.

Medical Payments to Others - Coverage that helps to pay for medical bills relating to minor injuries that occur within your unit.

Loss Assessment (optional) - Coverage that can help protect unit owners from having to pay out-of-pocket for special assessment claims that exceed the coverage of their association’s master insurance policy limits.