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Condo Insurance

8 Things to Know About Condo Insurance


  1. The master policy for the association usually only covers the exterior of the building and any community-owned property, not your stuff. You need to get your own “HO6” Condo homeowners policy.

  2. You need “Dwelling Coverage A” as contained in the HO-6 policy to cover the built-in features of your unit such as the cabinets, flooring, sheetrock, appliances, plumbing fixtures, and interior doors.

  3. Lenders usually require that you purchase Coverage A limits of at least 20% of the appraised amount of your unit. Often times this is enough coverage, but it might not be.

  4. Personal Property Coverage C” is the coverage for your furniture, clothes, housewares, and other gear.

  5. Coverage for jewelry, and artwork, and collectible items is usually limited by your policy. Please let us know what valuable items you own so we can structure your policy to safely cover your possessions.

  6. The HO6 policy also covers you for additional living costs you might incur if your unit becomes unlivable as a result of a covered loss. This could include hotel bills, rent for a temporary apartment, meals, laundry and other things that cost you more because you can’t use your own space.

  7. Liability coverage is also part of the HO6 package. This protects you against the potential lawsuits that could arise if someone gets hurt on your property, or if you could otherwise be found responsible for causing harm to others anywhere else.

  8. Not all HO6 policies are the same. There is a great deal of variation in coverages and pricing between carriers. Allow us to learn about your needs and to check the best markets to find you the best coverage at the best price.










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