What You Should Know About HO-6 Condo Insurance
What is HO6 condo insurance? Knowing the answer is necessary for any condo owner who wants to protect their property and belongings from unexpected damage or loss.
Unlike standard homeowner’s insurance, an HO-6 policy covers only what’s inside your unit. So, it’s everything not protected by the master policy held by the condo association.
What HO-6 Covers Inside the Unit
An HO-6 condo insurance policy typically applies to interior features like flooring, cabinetry, fixtures, and personal belongings. If a pipe bursts behind your bathroom wall and floods your hardwood floor, your HO-6 may kick in depending on your policy details.
Think of it as a safety net for anything from a kitchen fire to theft, as long as it originates within your owned space. This type of policy can also cover liability for injuries that occur inside your condo, such as a guest slipping on wet tiles.
Knowing the Divide: Unit Vs. Structure
The biggest confusion often lies in the division of responsibility. Condo associations usually carry a master policy that protects shared walls, roofing, lobbies, stairwells, and other common elements.
However, what happens inside the drywall is often your responsibility. The condo policy HO6 picks up where the association’s coverage ends. Without it, even a minor electrical fire could lead to large out-of-pocket expenses for repairs or replacements.
Gaps in Coverage: Real Risks for Owners
Many owners don’t realize that their condo association’s policy does not protect their cabinets, countertops, or appliances. This gap leaves owners financially exposed during fire, flood, or storm events.
Hiring construction monitoring experts can help identify vulnerabilities in your unit that an HO-6 policy might not fully cover, especially if those features were added after initial construction.
Whether your unit is a new build or a resale with upgraded finishes, it’s worth knowing what your specific insurance policy protects.
Loss Assessment and Association Claims
Some HO-6 policies also include loss assessment coverage. This applies when a condo association files a claim on the master policy but the deductible or uncovered portion is passed down to owners.
Let’s say storm damage hits the roof and your HOA is short $50,000 after the claim payout. That cost might be split among unit owners. A well-structured condo HO6 policy can help offset your portion of that bill.
Working with a professional familiar with damage claims can also help document unit-level issues that might be reimbursable under either the HOA’s coverage or your personal policy.
Don’t Assume You’re Fully Covered
If you’ve been wondering what is HO6 condo insurance, the short answer is this: it protects what your HOA policy doesn’t. From drywall inward, you hold the responsibility and the risk.
Recognizing this split allows you to make better decisions about coverage limits, deductibles, and what level of personal liability protection to select.
Your Interior Deserves a Safety Net
Stone Building Solutions examines what’s inside the walls, under the surface, and between the fine print. From documenting construction flaws to guiding clients through insurance-related challenges, we make sure nothing is overlooked.
Whether you’re reviewing your current policy or assessing damage post-disaster, our experienced team helps bring clarity to complex situations. Have questions about coverage gaps or property documentation? Contact us to start the conversation.