ANSWER
For a condo, you usually need an HO-6 unit-owner policy that covers your unit’s interior, belongings, liability, and loss of use, while the HOA’s master policy covers the building and common areas. In California, you should also check earthquake coverage separately because standard homeowners or condo policies do not cover earthquake damage.
YOUR NEXT DECISION
Turn the answer into your next step
- Ask the HOA for the master policy, deductible, and any condo insurance rules.
- Buy an HO-6 policy sized to your unit, belongings, liability, and loss-of-use needs.
- Ask your insurer about loss assessment coverage and earthquake insurance.
- If your condo project’s documents require a different unit-owner policy, follow those documents.
What policy a condo owner needs
A condo owner’s policy is commonly called HO-6. Freddie Mac says that if any peril is excluded from the primary insurance policy, the excluded peril must be covered through a secondary policy, and Fannie Mae says condo projects often rely on a master property policy for common elements and residential structures unless the project’s legal documents require individual unit policies.
- The HOA’s master policy is for the building and shared areas, not your personal belongings or most unit-owner needs.
- Review the condo project’s legal documents to confirm whether the unit or the HOA is responsible for any part of the coverage.
- Source-backed check: ask the HOA for the master policy and the condo insurance requirements before you bind coverage.
What condo insurance usually covers
A typical condo policy covers building property inside your unit, personal property, liability, and loss of use. A common add-on is loss assessment coverage, which can help if the HOA bills unit owners for part of an uninsured loss or deductible.
- The association’s master policy usually covers the exterior structure and common elements, but not your unit contents.
- California’s Department of Insurance says condo unit owners may need help with assessment costs after earthquake damage.
- Check whether your policy includes loss assessment coverage and whether high-value items need extra endorsements.
Earthquake coverage in California
Standard homeowners and condo policies do not cover earthquake damage. In California, your insurer must offer earthquake insurance every other year, and the California Earthquake Authority offers policies for condo unit owners.
- Earthquake coverage can pay for damage to your belongings and, in some cases, living elsewhere while repairs are made.
- It may also help with your share of certain assessments if your HOA charges unit owners after earthquake damage.
- Fire that starts because of an earthquake is covered by homeowners insurance, but the earthquake damage itself is not.
Sources
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