Condominium Insurance
When it comes to condominium ownership it is important to understand the differences between the association’s master insurance policy and the unit owner’s HO6 insurance policy.
A master insurance policy is typically purchased by the condominium association and provides coverage for common areas, exterior structure, and in most cases, the interior of the condominium unit. These policies can also provide liability coverage for the association. The HO6 policy is purchased by an individual condominium unit owner and provides coverage for the interior of the condominium unit (per the association’s by-laws), personal belongings, master policy deductible, additional living expenses and liability.
Understanding the differences between the coverage provided by the association’s master policy and the unit owner’s HO6 policy is essential for condominium unit owners so that their investment is property insured.
Should you experience a loss to your condominium, contact Gentili + Rossini Associates. We will work with your association’s master insurance policy carrier and individual unit owner’s HO6 carrier to properly assess the damage to ensure maximum recovery from each policy.
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