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Why Every Condo Owner Should Purchase HO-6 Insurance

HO6 condo insurance in Florida is a home insurance policy for condo and co-op unit owners. As the owner of a condo or co-op property, you are liable for damages to your apartment. However, the HO-6 insurance takes care of that and offers personal liability protection for individuals as well as living expenditure coverage in the event that a condo becomes uninhabitable. HO-6 policies are sometimes referred to as “walls-in coverage” since they protect your particular unit.

You can think of HO-6 insurance as homeowners insurance for condo owners. Everything that homeowners insurance would cover in a house HO-6 will cover in a condo. ZK & Associates strives to sell the best HO6 insurance in Florida, and we’re here to answer any questions that you have or to help you file a claim.

What Coverage Do You Get With an HO-6 Policy?

If you just bought a condo, you need HO6 condo insurance in Florida. This insurance covers a number of different things. First, it offers dwelling coverage. Your condo will be insured against storms, vandalism, smoke, fire, and plumbing issues. You’ll also have personal property protection, which protects your valuable personal goods within the unit, such as clothing, gadgets, jewelry, and furniture.

The HO6 condo insurance for your Florida property will also typically cover personal liability and medical expenses. This helps cover legal fees if you are charged for inadvertently injuring people or ruining their property as well as paying medical bills for visitors who are injured on your premises.

Your condo association or co-op board must occasionally perform substantial repairs to parts of the property that pass through your unit, such as plumbing, HVAC, or electrical repairs, that are not covered by their insurance. If they need to do repairs that affect your unit, you may be asked to pay a part of the cost. In situations like this, HO-6 insurance provides you with additional protection.

Some situations like property damage may render your condo uninhabitable. For example, a damaged pipe may force you to vacate your apartment for a few weeks while the pipe is repaired. An HO-6 coverage may cover hotel expenditures, restaurant meals, and laundry charges in excess of what you would ordinarily spend while staying at home.

HO-6 insurance is often about 35% cheaper than the ordinary homeowners insurance policy. Because you’re only required to insure the inside walls, floors, and furnishings, there is less square footage to insure. In homeowner insurance, however, the whole interior and exterior of the property must be covered.

What’s Not Covered by an HO-6 Policy?

In a condo association or a co-op, the board that owns the building will have its own HOA insurance for Florida buildings. The HOA insurance their Florida company offers will cover damage to hallways, parking lots–even your parking space–and common areas like the swimming pools, dog park, fitness center, or communal open spaces. So none of this falls under your HO-6 policy even if you use these amenities.

Condos and co-ops are different than free-standing homes, so their owners need an insurance package that’s tailored to their needs, which is where the HO-6 insurance policy comes in. If you’re looking for the best HO6 insurance in Florida for your condo, then contact us at ZK & Associates. We are experts in home insurance, and we’ll help you get the most suitable coverage to give you the best bang for your buck.