ANSWER
For a condo, you usually need an HO-6 condo policy, not a standard homeowners policy. It protects your unit’s interior, your belongings, liability, and loss of use, and flood needs a separate policy if your lender or location requires it.
YOUR NEXT DECISION
Turn the answer into your next step
- Get the condo association’s master policy summary and governing documents before you buy.
- Confirm the HO-6 covers interior finishes, personal property, liability, loss of use, and loss assessment.
- Ask whether flood insurance is required by your lender or advisable for the condo’s location.
- Verify the effective date and any waiting period before assuming coverage has started.
HELP WITH YOUR NEXT STEP
Choosing coverage for a specific home?
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Review coverage with GuyWhat policy fits a condo
A condo owner should buy an HO-6 policy. It is built for unit owners and works alongside the condo association’s master policy, which typically covers the building exterior and shared areas, while your HO-6 covers the parts of the unit you’re responsible for.
- HO-6 is the standard condo policy for unit owners.
- The master policy usually handles shared walls, roofs, hallways and other common areas.
- If your condo has upgrades or built-ins you paid for, check whether your HO-6 limits cover them.
What it should cover
At minimum, look for coverage for the interior of the unit, personal belongings, personal liability, and additional living expenses if a covered loss makes the condo unlivable. Loss assessment coverage is also worth checking because it can help if the association bills owners for part of a shared loss.
- Personal property is not covered by the association’s master policy.
- Loss assessment coverage is often small by default, so confirm the limit in the quote.
- Replacement cost coverage is often recommended for the unit interior and improvements.
Flood is separate
Standard condo insurance does not cover flood damage. Texas says you may need a separate flood policy, and the lender requires it if the home is in a designated flood zone; FEMA administers the National Flood Insurance Program, and most flood policies have a 30-day waiting period.
- Ask for a flood quote if the property is in or near a flood-prone area.
- Do not wait until a storm is coming, because coverage usually does not start right away.
- Use your insurance agent, the NFIP, or FEMA resources to verify flood availability and timing.
Sources
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