What type of homeowners policy is recommended for condominium owners?

The recommended homeowners policy for condominium owners is the HO 6 Unit-Owners Form. This policy is specifically designed to meet the unique needs of those who own individual units within a condominium complex.

The HO 6 policy provides coverage for personal property within the unit, as well as for improvements and alterations made to the unit. It typically covers the owner’s personal belongings, liability coverage, and may provide coverage for certain assessments made by the condo association, which is crucial for unit owners who may be financially responsible for damages incurred in shared areas or by the building itself.

While other forms, such as the HO 5 Comprehensive Form or the HO 3 Special Form, may cover single-family homes and offer broader coverage for the dwelling itself, they do not adequately address the specific circumstances faced by condominium owners. The HO 4 Contents Broad Form is geared towards renters rather than owners, lacking the necessary coverage for unit improvements and assessments. Thus, the HO 6 Unit-Owners Form is the most appropriate choice for condominium owners, as it accounts for their specific insurance needs related to their unit ownership.