ANSWER
For a condo, you usually need an HO-6 unit owners policy if the building’s master policy does not cover the unit interior or improvements, or if there is a per-unit deductible. In Massachusetts, the association covers common areas, while your policy covers what your condo docs assign to you.
YOUR NEXT DECISION
Turn the answer into your next step
- Ask for the condo master policy and declaration.
- Confirm whether the policy includes interior unit coverage.
- Check for any per-unit deductible.
- Buy an HO-6 policy if the master policy leaves a gap.
- Confirm flood coverage responsibilities if the property is in a flood zone.
What you need for the unit
For a condominium, the key personal policy is usually an HO-6 unit owners policy. Freddie Mac says the borrower must obtain HO-6 coverage when the master policy does not insure the interior of the unit or improvements within the unit, or when the master policy has a per-unit deductible.
- Minimum HO-6 limit must be enough to repair the unit to its pre-loss condition, or at least the amount of any per-unit deductible.
- The policy should cover interior unit losses and improvements; the exact split depends on the condo’s master policy and documents.
- Check the condo declaration, bylaws, and master insurance policy to see what the association insures and what you must insure.
What the condo association covers
Massachusetts says unit owners share responsibility for common areas such as building exteriors, hallways, and pool areas. Freddie Mac also requires the association to insure common elements and related project property, and HUD says the HOA generally maintains the master or blanket policy for the project.
- Common elements are typically handled by the association, not your HO-6.
- If the master policy lacks interior coverage, your walls-in policy fills that gap.
- The association’s deductible matters because it can trigger your HO-6 need.
Practical next step
Ask the condo association or seller for the master insurance summary and confirm whether it covers interior unit finishes, improvements, and any per-unit deductible. If the building is in a flood zone, HUD says the HOA, not the individual owner, is responsible for required flood insurance on the project’s buildings.
- Verify the master policy details before closing or renewing.
- Confirm whether your lender requires any additional coverage tied to the project documents.
- If flood risk applies, check the HOA’s flood policy rather than assuming your condo policy replaces it.
Sources
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