The short answer
What an Ho-6 Policy Covers
An HO-6 policy, also called condo insurance, covers your personal belongings like furniture, clothing, and electronics. It also covers interior finishes and fixtures that you own, such as cabinets, flooring, and built-in appliances. If a covered event damages these items, the policy helps pay for repairs or replacement.
This coverage extends to your liability if someone is injured inside your unit. It can also pay for additional living expenses if a covered loss makes your condo uninhabitable. The exact limits and deductibles depend on your policy and the choices you make when you buy it.
Policies vary, and your insurer decides what is covered.
How It Works with the Master Policy
Your condo association carries a master policy that covers the building's common areas and structure. That policy typically covers the outside walls, roof, and shared spaces like hallways and lobbies. What it covers inside your unit varies widely from one association to another.
Your HO-6 policy fills the gaps. If the master policy only covers the bare walls, your HO-6 covers the interior finishes and your personal property. If the master policy covers more, your HO-6 may have lower limits. Check your association's master policy to understand where its coverage ends.
Ask your insurance agent to explain how the two policies fit together. That helps you choose the right amount of coverage for your unit.
- Personal property like clothes and electronics
- Interior walls, floors, and cabinets you own
- Liability for injuries to guests in your unit
- Additional living expenses if you cannot stay home
- Loss assessment coverage for shared expenses
- Medical payments to guests injured on your property
Why Condo Owners Need It
Your condo association's master policy does not protect your personal belongings. If a fire or burst pipe damages your furniture, the master policy will not pay to replace it. Your HO-6 policy provides that protection.
Without an HO-6 policy, you could face major out-of-pocket costs. For example, if a leak from your washing machine damages your unit and the unit below, your liability coverage helps pay for the other unit's repairs. That protection is worth having.
Many mortgage lenders require condo owners to carry an HO-6 policy. Even if it is not required, it is a practical way to protect your investment.
How Water Damage Fits In
Water damage is a common claim for condo owners. Your HO-6 policy typically covers sudden and accidental water damage from events like a burst pipe or an overflowing appliance. It does not cover damage from long-term leaks or neglect.
If water damages your drywall, flooring, or personal items, your HO-6 policy helps pay for repairs. If the damage comes from a shared pipe or the building's structure, the master policy may cover part of it. Your HO-6 then covers your personal property and any improvements you made.
Keep records of your belongings and their value. That makes filing a claim easier if water damage occurs.
- Burst pipes and appliance overflows
- Leaks from your plumbing fixtures
- Damage to your personal property
- Repairs to your unit's interior finishes
- Liability for water damage to other units
How to Choose Coverage Limits
Start by listing your personal property and estimating its value. That helps you set a personal property limit that covers your belongings. Also consider the cost to rebuild your unit's interior, including finishes and fixtures.
Review your association's master policy to see what it covers. Then choose your HO-6 limits to cover the gap. Ask your insurance agent to help you calculate the right amounts.
If you live in Mesa, keep a copy of your HO-6 policy and your association's master policy in a safe place. That way you can compare them if you ever file a claim.
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Call Now (480) 898-4279Frequently asked questions
Is an HO-6 policy required by law?
No law requires condo owners to have an HO-6 policy. However, your mortgage lender may require it, and your condo association may have rules that mandate it. Even if it is optional, it is a wise way to protect your belongings and your finances.
Does an HO-6 policy cover mold?
Most HO-6 policies limit or exclude mold coverage. Coverage depends on the cause of the mold and your policy's terms. If mold results from a covered water loss, some policies pay for cleanup up to a limit. Check your policy or ask your agent for details.
What is loss assessment coverage?
Loss assessment coverage pays your share of a special assessment from your condo association. If the association's master policy has a deductible or a claim exceeds its limits, you might be assessed for part of the cost. This coverage helps cover that expense, up to your policy's limit.