Understanding HO6 Condo Insurance Requirements
HO6 insurance, also known as condo insurance or walls-in coverage, is essential protection for condominium owners. This policy covers your personal property, interior walls, floors, ceilings, and personal liability. Most associations require proof of adequate HO6 coverage to protect both individual owners and the community.
What Does HO6 Insurance Cover?
- Personal Property: Furniture, electronics, clothing, and other belongings
- Interior Structures: Improvements, betterments, and additions to your unit
- Loss of Use: Additional living expenses if your unit becomes uninhabitable
- Personal Liability: Protection if someone is injured in your unit
- Loss Assessment: Your share of damages to common areas
Minimum Coverage Requirements
While requirements vary by association, typical minimums include $300,000 in personal liability coverage, $10,000 in medical payments to others, and loss assessment coverage matching your association's deductible. Many associations also require coverage for improvements and betterments based on your unit's specific features. Contact our office for your association's specific requirements.
Why Annual Verification Matters
Regular insurance verification protects the entire community by ensuring all owners maintain adequate coverage. This helps prevent financial disputes following incidents, ensures compliance with mortgage requirements, and may qualify the association for better master policy rates. Submit your updated HO6 insurance information annually or whenever you change carriers.