Home Owners Insurance
INVEST IN YOUR HOME NOW!
It is very important for unit owners to invest in an insurance HOA policy. having this policy will cover any interior damage. For example: a leaky roof, fire damage, or any damage caused by plumbing issues. Owning a home is a big investment and usually represents the bulk of savings for the owner.
If your personal items were to be destroyed, how would you replace it? Simply contact your insurance agent and he will be able to provide that for you. It is important that you advise your agent that you reside in a town home governed by a condo law – not a single family home; there is a big difference. Please find the time to invest in protecting your valuables the right way.
The HO6 homeowners’ insurance policy is designed to provide coverage which is NOT covered by the master policy of the condo/townhouse association. For example, if water leaks out of an unit and damages another unit, an HO6 policy will protect the owners of the units.
What kind of insurance do I need for my condo?
Owners of condominium units receive building or structural insurance coverage from the association’s master insurance policy, but there may be many gaps of coverage. The insurance industry has responded to these gaps with the Condo Unit Owner’s Policy, or HO6. If you own a condo unit, you need an HO6 Policy.
* Covers your personal property
* Covers personal liability
* Covers interior walls and floor coverings
* Covers improvements or upgrades you made
* Usually has small deductible & fairly inexpensive
Masters policy (Policy for homeowners association)
* Does not cover your personal property
* Does not cover liability inside condo
* Does not cover improvements or upgrades you made
* Covers the condo building and some liability (such as walkways)
*Included in your monthly maintenance payments