Condo owners are in a unique position: you own your unit but share the building with other owners. The HOA's master policy covers the building. Your HO-6 policy covers everything inside your unit. Without both, there are dangerous gaps.
What Your Condo Policy (HO-6) Covers
Dwelling Coverage (Your Interior)
- Interior walls, floors, ceilings
- Kitchen cabinets, countertops, built-in appliances
- Bathroom fixtures, flooring, tile
- Any improvements or upgrades you've made
- Important: If you renovated your kitchen for $30,000, your dwelling coverage should reflect that
Personal Property (Your Stuff)
- Furniture, electronics, clothing, appliances
- Same as renters insurance personal property coverage
- Choose replacement cost over ACV
- Schedule high-value items (jewelry, art) separately
Liability Coverage
- Guest injuries inside your unit
- Damage your unit causes to neighboring units (your pipe bursts and floods the unit below)
- Legal defense costs
- Recommended: $300,000 minimum
Loss of Use
- Temporary housing if your unit is uninhabitable after a covered loss
- Hotel, meals, and related expenses
Loss Assessment Coverage
- If the HOA's deductible or shortfall is assessed to unit owners, this pays your share
- Standard: $1,000-$2,000 (often insufficient)
- Recommended: $25,000-$50,000 (check your HOA's master policy deductible)
Understanding the Master Policy
Request a copy of your HOA's master policy and check:
- "Bare walls" coverage: HOA covers the structure only — you cover ALL interior finishes
- "Single entity" coverage: HOA covers the structure PLUS original interior finishes — you cover upgrades and personal property
- "All-in" coverage: HOA covers everything except personal property and improvements — you cover less
- Master policy deductible: If the HOA has a $25,000 deductible, unit owners may be assessed for it
Real Cost Example
- $50,000 dwelling (interior improvements)
- $40,000 personal property
- $300,000 liability
- $25,000 loss assessment
- $1,000 deductible
- Cost: ~$35-$55/month ($420-$660/year)
Bottom line: Your HOA's master policy covers the building shell. Your HO-6 covers your interior, your stuff, and your liability. Without it, a fire or water event means rebuilding your kitchen, replacing your furniture, and defending any lawsuits — all out of pocket. At $35-$55/month, it's essential protection.