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Comment on HO6 Policies by Glenn

Glenn — Fri, 08 Apr 2011 14:43:50 +0000

Hi Wanda. Thank you for your question. Different types of homeowners policy forms are referred to as HO-1, HO-2, HO-3, and so forth. There are seven basic kinds of home insurance policies and they’re pretty much the same regardless of where you live (except for Texas). An HO-6 policy is the form used for a condominium insurance policy. Depending on whether your building’s master insurance policy is an “all-in” or “studs-in” policy, the coverage you need may be different. An HO6 policy will usually also provide liability coverage for the owner.

Here is a break-down of the usual coverages:
Coverage A – Dwelling: Declared Value.
Coverage B – Other Structures: Part of Coverage A.
Coverage C – Personal Property: $10,000 minimum.
Coverage D – Loss of Use: 50% of Coverage C.
Liability: Minimum of $100,000.
Medical Payments: Minimum of $1,000.

Comment on What is condo owner’s insurance? by Glenn

Glenn — Fri, 08 Apr 2011 14:38:25 +0000

Excellent point, RW. There are instances where losses are out of our control, but regular preventative maintenance is highly recommended so that instances such as these do not occur. It’s unfortunate that this senior citizen did not have family or friends to help her out and keep an eye on the property for her.

Comment on What is condo owner’s insurance? by RW Spurlock

RW Spurlock — Fri, 11 Mar 2011 21:51:19 +0000

Another little tidbit of information. We recently completed a repair to a home where the rain water gutter located at the fascia on the rear of the house had clogged. This caused water to collect in that area, and water when it sits always finds a way in; over time the rotted out the roof rafters. The home owner filed a claim with her home owner’s insurance company (State Farm). State Farm refused the claim on the basis that the cause was a lack of maintenance. Well this lady was over eighty years old. She certainly was not going to get on a ladder to clean her rain water gutter…no matter.

If you fail to maintain, chances are your claim will be denied.

Comment on HO6 Policies by Wanda Torres

Wanda Torres — Fri, 07 Jan 2011 15:15:34 +0000

What does HO6 stand for?

Comment on What Kind of Insurance Do I Need for My Condo Unit? by Bed Guard

Bed Guard — Sun, 12 Dec 2010 18:07:15 +0000

actually, i like to live in a condominium specially on the higher floors because the view is amazing ;`*

Comment on by Get a Quote « InsureOurCondo

Get a Quote « InsureOurCondo — Wed, 08 Dec 2010 14:30:28 +0000

[...] Condo Unit Owner Quote [...]

Comment on by Get a Quote « InsureOurCondo

Get a Quote « InsureOurCondo — Wed, 08 Dec 2010 14:29:26 +0000

[...] Master Policy Quote [...]

Comment on Association Members by Tips, articles, and guides to finding condo insurance | InsureOurCondo

Tips, articles, and guides to finding condo insurance | InsureOurCondo — Tue, 16 Nov 2010 19:59:42 +0000

[...] Association Members [...]