What is Condo Insurance

Condo insurance, also known as an HO6 insurance policy, provides condo unit owners coverage for their properties, protects against liability claims and helps cover costs if the unit is uninhabitable. A condominium insurance policy is often called walls-in coverage, as it protects the individual unit, whereas your condo association’s master policy generally covers all common areas. However, standard condo insurance doesn’t offer coverage for all situations, such as floods, so you may want to consider additional policies depending upon where your condo is located and how much time you spend there.

Typical Benefits of a Condo Insurance Policy

• Coverage for damage to personal property such as furniture, computer equipment and clothing
• Fill in the gaps of the master insurance policy and cover losses under master policy deductibles
• Personal liability coverage
• Interior walls and floor coverings coverage
• Coverage for improvements or upgrades (most master insurance policies only cover the original condition and value of the unit).
• Usually has small deductible and fairly inexpensive

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