Owning a condominium can offer an exciting retreat from your primary residence, without the full responsibility of maintaining a standalone house. However, it’s crucial to ensure your condo is adequately protected. Here’s what you need to know about condo insurance.

What is Condo Insurance?

Condo insurance, typically known as HO-6, is different from homeowners’ insurance. It works in conjunction with your condo association’s policy.

Usually, your condo association’s policy covers the overall structure of the building, as well as common areas such as hallways, lobbies, and the building’s roof. Their policy typically does not cover what’s inside your unit, including structural components like walls and flooring, appliances, and personal belongings. Understanding the details of your building’s insurance policy can help ensure that your personal HO-6 policy fully covers your condo.

What Condo Insurance May Cover

Your individual coverage will depend on your policy. Typically, condo insurance covers the gaps left by your building’s policy. Condo insurance may offer dwelling coverage for interior repairs, liability protection in the event that someone is injured in your unit, personal property coverage to protect against stolen or damaged belongings, and loss of use coverage in the event that you’re temporarily unable to access or use your condo due to damage.

Rickey McGill Insurance Agency: Proudly Serving Arlington

At Rickey McGill Insurance Agency, we’re proud to serve condo owners in Arlington, TX. Whether you’ve recently purchased your first condo or you’re looking for a new vacation home, we’re excited to get to know you and help you find the right policy for your needs. Reach out to us or stop by the office to chat and learn more about our coverage options.