Condo Insurance

Condo insurance, also known as condominium insurance or HO6 insurance, is a type of insurance designed specifically for condominium owners. It provides coverage for the unique risks and liabilities associated with owning a condo unit. Unlike homeowners insurance, which covers the entire structure of a house, condo insurance focuses primarily on the interior of the unit and the owner’s personal belongings.

In general, condo insurance provides coverage for:

1. Dwelling Coverage: This covers the interior structures of your condo unit, such as walls, floors, ceilings, fixtures, and built-in appliances.

2. Personal Property Coverage: This covers your personal belongings, such as furniture, clothing, electronics, and other valuables, in case of damage or theft.

3. Liability Coverage: This provides protection if you are found legally responsible for causing injury or damage to someone else’s property within your condo unit.

4. Loss of Use Coverage: If your condo becomes uninhabitable due to a covered event, this coverage helps with the additional living expenses you may incur, such as hotel bills or temporary rentals.

5. Additional Coverages: Other optional coverages, such as loss assessment coverage (for shared property damage), water damage coverage, and identity theft protection, may also be available.

In short, condo insurance is for individual condo owners to protect their personal property and liability within their unit, while HOA insurance is for the collective protection of the shared property and common areas of the condo complex or community. Both types of insurance work together

Yes, condo insurance typically includes coverage for your personal belongings inside the condo. This coverage, known as personal property coverage or contents coverage, helps protect your belongings from damage or theft.

Personal property coverage typically includes items such as furniture, electronics, appliances, clothing, and other personal items.

Yes, condo insurance typically includes personal liability coverage, which provides protection if someone is injured in your condo unit and you are found legally responsible for their injuries. This coverage helps cover the cost of legal expenses, medical bills, and other damages resulting from the injury.

H06 is a code used to refer to a specific type of insurance policy known as the “HO6 policy.” The HO6 policy is a form of condo insurance designed to provide coverage for individual condo unit owners. The designation “H06” is used to differentiate it from other homeowners insurance policies. 

H03 is standard homeowners while H04 is renters insurance.

While condo insurance provides coverage for many risks and perils, there are certain things that are typically not covered by standard condo insurance policies. These exclusions may vary depending on the specific policy and insurance provider, so it’s important to carefully review your policy and consult with your insurance agent to understand what is specifically covered or excluded. Here are some common items that may not be covered by condo insurance:

• Flooding
• Earthquake damage/earth movement
• Normal wear and tear
• Power failure
• Intentional damage

If you own a condo, you probably know that your condo association’s insurance policy only covers the building itself and common areas. But what about your personal belongings and liability? 

That’s where condo insurance comes in. Condo insurance is designed to protect you from financial losses due to damage to your unit or theft of your belongings, as well as from liability claims if someone is injured in your home.