Condo Insurance (HO-6)

Condominium insurance is a little bit different from homeowners insurance because you usually only need to protect the inside of your condo. This is called an HO-6 insurance policy which covers the interior of the unit and personal property inside commonly known as “walls in” coverage.

The condo association takes all responsibility and ownership for the common areas and the exterior of the building. The interior of your unit, however, is your responsibility, and it is important to make sure your real estate investment is protected.

Some condo “Master Policies” provide all-in coverage. This means the entire building, including your unit, are covered. Check your condo’s Master Policy and find out if it covers your individual unit.

Insurance companies offer Dwelling Coverage, which generally insures the interior walls, drywall, wallpaper, paneling, flooring, bathrooms, and built-in cabinets. This is the coverage you need to cover the unit you own.

Your personal property is not covered by a condo master policy, and you should protect it. Personal property includes everything you own in your condo such as Furniture, TVs, computers, clothing, cookware, etc. Everything that is not attached to your condo is considered personal property.

Condo owners also need to protect themselves from liability claims and lawsuits if someone is injured in your condo or you are responsible for damage to someone else’s property.