An HO-6 Condo Insurance Policy is a type of homeowners insurance designed specifically for condos and townhomes where there is a Master HOA policy in place. HO-6 refers to the insurance form the policy uses to provide coverage. It is a homeowners 6 form, which is specifically designed to provide coverage for [...]
If you have a mortgage on your condo, you will typically be required to purchase an HO-6 condo insurance policy. If you do not have a mortgage, you may not be required to have an HO6 condo policy; however, we highly recommend it. Even if your condo association has no coverage requirements, [...]
HOA Insurance typically refers to the Master HOA insurance policy. Your HOA is responsible for carrying out a master insurance policy to insure the common areas of your condominium development. The HOA master policy provides protection for damages or injuries that occur in the “shared spaces” (i.e., hallways, meeting rooms, pool decks, [...]
What is earthquake insurance? Earthquake insurance is a type of insurance policy that helps protect homeowners and business owners from financial losses caused by earthquakes. It typically covers damage to the structure of the home or business, as well as personal property damage and loss of use. Many standard homeowners and condo insurance policies [...]
Insurance rates for Condos and townhouses are generally much lower than homeowners insurance prices for single-family dwellings. This is because the condo association master policy will cover damage to all items in the building, including the roof, walls, and common areas. Condo and townhouse homeowners' policies typically cover more than just the [...]
You should purchase enough dwelling coverage to meet your HOA master policy deductible, and maybe more depending on your homeowner’s association. Many condo insurance policies will provide coverage to meet your HOA master policy deductible in the dwelling coverage of your HO-6 Condo Insurance policy if there is a claim that includes [...]
