What is Condominium Unit-Owners Insurance?
Condominium unit-owners insurance (HO-6) provides coverage for individual owners of condominium units. The standard condo policy covers the dwelling from “the bare walls in” as well as all of the personal property within the condo.
Standard condominium unit-owners coverage includes:
- Coverage A – Dwelling (declared value)
- Coverage B – Other Structures
- Coverage C – Personal Property
- Coverage D – Loss of Use
- Coverage E – Personal Liability
- Coverage F- Medical Payments
The Florida HO-6 policy covers condominium unit-owners for unexpected events such as fire, theft, smoke, vehicles, hail and most natural weather events. Earthquakes and Floods are not covered by the standard condo policy, as these two perils are covered by two separate types of policies. In addition to the standard coverages, most companies offer coverage enhancements such as loss assessment coverage, water damage and identity theft for an additional charge.