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     Daniel J. Guarino Insurance Agency, Inc.         Northwoods Business Park  •  99 Rosewood Drive  •  Danvers Massachusetts
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What Does A Condo-Unit Owner Policy Cover (HO-6) ?

Written by GuarinoInsurance
16. February 2011 01:49

    What Does A Condo-Unit Owner Policy Cover (HO-6) ?

                             

  • Everyone who owns a condo should have a unit-owner policy to cover their condo.  This policy is going to cover several things that the master condo policy may not cover.  The first thing you need to know when writing your unit-owner policy is exactly what your master condo policy does and does not cover.  Most importantly, does it cover the inside walls and fixtures of your condo?  Some master condo policies do cover this, but, if yours does not, this amount needs to be reflected in your HO-6 policy.  That way if there was a fire and your condo needed to be rebuilt you would have enough coverage to replace the "inside walls" of the condo.  This coverage amount should be reflected in the Dwelling section of the policy.
  • Your HO-6 policy will also cover your personal property.  This includes your clothing, furniture, electronics, etc.  The amount that you chose for coverage under this section is the maximum amount that the insurance company will pay you in the event that they pay a claim.
  • In addition, the policy gives you coverage for Loss Of Use.  This means that in the event that your condo in uninhabitable due to a covered claim they will give you up to this specified limit to live in a hotel/motel until the condo is livable. 
  • A unit-owner condo policy also has coverage available for personal liability.  This means that in the event that someone slips and falls in your condo and sues you, this coverage will come into play.  This is a very important coverage; without this a lawsuit could put you in financial ruin. 

To Request A Condo Unit-Owner Quote Click Here

http://www.djgins.com/condo-insurance-quotes.asp

 

 

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Comments

February 16. 2011 20:37

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Maybe you can do one on a Condex like we have in Methuen MA.

Gerard Donahue us

March 7. 2011 09:15

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Sure Gerard, please contact me directly at Andrew@djgins.com and I can work on the quote. Thanks!

Andrew us

April 2. 2011 06:57

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May 23. 2011 07:32

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This is a smart blog. I mean it. You have so much knowledge about this issue, and so much passion. You also know how to make people rally behind it, obviously from the responses.

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