Condo insurance, also referred to as an HO6 policy, protects a condominium the same way a homeowners insurance (HO3 policy) protects a home. The difference is that an HO6 is tailored for the unique situations that come with condo ownership. Let’s explore what a typical condo insurance policy does and how Kin’s coverage keeps your condo safe.
Whereas a home insurance policy covers an entire house, inside and out, condo insurance covers the walls in. HO6 insurance policies cover the interior of the unit and personal property inside, which is why it’s sometimes referred to as “studs in” or “walls in” coverage.
A condo association master insurance policy typically covers the building’s exterior. That’s one of the benefits of owning a condo: you can share some of the responsibilities for the property.
So let’s say your building’s roof has a leak. Water enters your dwelling and does some damage to the ceiling. The master policy can cover the repair to the roof itself, and your policy can address the damage to your ceiling, subject to policy conditions and determination of coverage.
Here’s another way to think about it. Kin’s condo insurance has:
HO6 doesn’t include Coverage B, protection for other structures like sheds, garages, and fences. The condo association’s master policy typically covers them.
In addition to the robust protection outlined above, our condo insurance can:
Plus, condo policies usually have small deductibles and are affordable.
To be eligible for condo insurance, your property must be a condo.
You (the owner), a tenant, or both you and a tenant must occupy the residence. We currently can’t cover condos that are vacant or unoccupied.
Ready to protect your condo? Great! Here are a few things to keep in mind when you apply: