ANSWER
A condo owner in Colorado typically needs HO-6 insurance, not HO-3 homeowners insurance, because the condo association’s master policy covers the building’s common areas and some shared structure. Check your association’s master policy and your lender’s rules to confirm what parts of the unit you must insure.
YOUR NEXT DECISION
Turn the answer into your next step
- Get the condo association’s master policy summary.
- Ask your lender what coverage they require.
- Buy an HO-6 policy that covers your unit’s interior, belongings, and liability.
- Review loss assessment coverage; one source notes standard HO-6 policies often start at $1,000 and some advisors suggest higher limits.
What policy fits a condo
For a condo near University of Colorado Denver, the usual match is an HO-6 policy. Colorado legislative staff notes that a condominium or townhome within an HOA typically requires HO-6 insurance, which covers personal property, liability, and parts of the unit not covered by the association’s master policy, often the inside of the walls.
- HO-6 is the condo-owner policy; HO-3 is for a full house, not a condo.
- The association’s master policy usually handles common areas and some structural coverage.
- Your own policy fills the gaps inside your unit, plus personal property and liability.
What to verify before you buy
Ask the condo association what its master policy covers, because policy type matters. Colorado’s legislative brief says HOAs are responsible for master coverage that can include roofs, exterior walls, and fixtures depending on the policy type, and if the master policy changes you may need more coverage.
- Request the master policy details or the CC&Rs from the association.
- Confirm whether the building uses bare-walls coverage or a broader type.
- Check your mortgage lender’s insurance requirement before closing; lenders often require coverage.
A practical Colorado note
Colorado’s Division of Insurance regulates insurers and helps consumers with questions and complaints. If you need help sorting out what your condo policy should include, the DOI is the state consumer resource to use.
- Colorado DOI handles consumer questions and complaints about insurance.
- Use it if you need help understanding policy terms or insurer conduct.
Sources
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