Condo Insurance: What It Is and What It Covers
Condo insurance, also known as HO-6 insurance, is a type of homeowners insurance designed specifically for condominium owners. Unlike traditional homeowners insurance, which covers both the structure and the land, condo insurance typically focuses on the interior of the unit and personal belongings, since the condominium association’s master policy usually covers the building’s exterior and common areas. Rick Tinker Insurance provides condo insurance in Pasadena, TX, Houston, Galveston, Friendswood, TX, League City, Webster, TX and surrounding areas.
What Does Condo Insurance Cover?
- Interior Unit Coverage (Building Property Coverage): Covers the walls, ceilings, floors, built-in appliances, and sometimes fixtures inside your unit if they are damaged by covered perils such as fire, vandalism, or water damage (excluding floods).
- Personal Property Coverage: Protects personal belongings like furniture, electronics, clothing, and valuables in case of theft, fire, or other covered events.
- Liability Protection: Covers legal expenses and medical bills if someone is injured inside your unit or if you accidentally damage someone else’s property.
- Loss of Use (Additional Living Expenses): Pays for temporary housing, food, and other expenses if your condo becomes uninhabitable due to a covered disaster.
- Loss Assessment Coverage: Helps cover special assessments charged by the condo association for damage to shared areas that exceed the association’s insurance limits.
What Condo Insurance Doesn’t Cover
- Damage from floods and earthquakes (requires separate policies)
- Wear and tear or maintenance-related issues
- Damage to the building’s exterior and shared spaces (covered by the condo association’s master policy)
It’s important to check both your condo association’s policy and your own coverage to ensure you’re adequately protected. Call us anytime if you need more information.
