What Is HO-6 Condo Insurance?

An HO-6 policy insures the condominium unit owner. The association buys a master policy for shared structure and common areas. You still need HO-6 for interior finishes, belongings, liability, and often optional coverage for loss assessments. Lenders require proof of HO-6 before funding in most cases. The master premium is paid through HOA dues. Your HO-6 bill is separate and can change at renewal even when dues stay flat.

Carriers file different HO-6 forms by state. Endorsements change what is covered after water losses, theft, or power surges. The declarations page attached to your policy lists limits and deductibles. Keep that page with your closing folder for lender renewals and future claims.

Read how the master policy defines unit boundaries in our all-in vs bare walls guide. That definition sets how large your HO-6 dwelling limit should be.

Mortgage escrows sometimes pay HO-6 if you bundle with a homeowners carrier that also writes your loan, but many buyers pay HO-6 separately by autopay. Either way the premium is part of your housing budget. Escrow does not remove the need to review renewal terms each year.

If you buy a unit with existing owner improvements, ask whether the prior owner transferred scheduled personal property or upgraded fixtures that need higher dwelling limits. Photos from the listing help your agent document finish quality when setting Coverage A.

Loss assessment coverage connects to our loss assessment guide and master policy deductible guide. Many coastal buyers size that limit after reading the master wind or water deductible on the certificate.

1. Request master policy declarations from the resale packet.
2. Share declarations and CC&R insurance sections with an agent who writes HO-6 in your state.
3. Quote dwelling limits based on interior rebuild cost, not list price.
4. Add loss assessment limits if master deductibles are large.
5. Bind effective coverage for the closing date and give the lender the evidence of insurance.

Get quotes for the specific building. Two identical floor plans in different associations can price differently because of claim history, age, coastal exposure, and master deductible size. Enter your annual premium in the condo insurance calculator to see the monthly budget line next to HOA and mortgage.

Renters insurance covers belongings and liability inside a unit you do not own. HO-6 adds dwelling coverage for finishes you are responsible for under the CC&Rs. If you are coming from an apartment, do not assume your renters policy converts automatically. Cancel renters coverage after HO-6 is effective and your lease ends. Overlap for one day is fine. A gap on closing day is not.

For premium ranges by building type, see how much HO-6 costs and condo insurance estimate workflow. For water damage splits between policies, read who pays for water damage.

Underinsured dwelling limits leave you paying out of pocket after partial losses. Coinsurance clauses penalize you if limits fall below a percentage of actual rebuild cost at the time of loss. Personal property caps may be lower than you assume if you own high-value bikes, instruments, or work equipment unless you schedule items.

Water backup from drains may be excluded unless you buy a rider. Earth movement and flood are typically excluded on standard HO-6 forms. If your building sits in a flood zone, the master flood policy may not cover unit interiors the way you expect. Ask your agent to walk through exclusions line by line, not only the premium.

Liability limits that worked in a rental may be low for an owner hosting guests in a owned unit with a dog or a home office receiving clients. Umbrella policies can sit above HO-6 liability when limits feel tight. Update your agent when you install built-ins or finish a basement storage conversion that changes risk.

• Master declarations shared with agent
• Dwelling limit based on rebuild estimate
• Personal property inventory for high-value items
• Loss assessment limit compared to master deductible
• Water backup and sewer backup riders quoted
• Liability limit matches lifestyle risk
• Evidence of insurance ready for lender
• Effective date aligned with closing day