HO-6 – Condo Form
Definition:
A policy designed for condominium unit owners that covers personal property, interior structures, and liability.
Explanation:
HO-6 fills coverage gaps left by the condo association’s master policy, which typically covers common areas and the building exterior.
Example:
If water damages your condo’s flooring, HO-6 pays for repairs while the association handles exterior wall damage.
Why it matters:
This term affects how claims are handled and what payout a homeowner may receive.