Ask NJM

What Is Condo (HO-6) Insurance?

Condo (HO-6) insurance is designed to meet the unique needs of condo owners. It insures the interior of your condo unit, your personal property, and your liability.

Condo Insurance Provides:

  • Limited dwelling coverage for alterations, appliances, fixtures, and improvements, along with any structures that are solely your responsibility, as defined by your homeowners association (HOA) bylaws.

  • Personal property coverage for the items that fill your home, such as your sofa, television, books, and dishes.

  • Loss of use coverage for extra living expenses, such as hotel and laundry bills, if you are required to leave your home after a covered loss.

  • Additional coverage for loss assessment charges from your HOA, subject to your policy terms.

  • Liability coverage.

The HOA's master insurance policy will only cover damages relating to the common use areas of the development. If you want to protect your home, condo insurance will work for you.

How Does Condo Insurance Work?

Condo insurance typically covers the parts of the condo that you're responsible for, as established by your HOA bylaws. For some losses, you may need to file a claim under both your condo policy and the HOA's master insurance policy.

Just like any other insurance policy, you'll have to follow certain conditions when you file a claim:

  1. Notify the insurance company as soon as possible;
  2. Notify the police or the credit card company if the loss relates to theft or identity fraud;
  3. Protect your property from further damage;
  4. Collaborate with the insurer; and
  5. Prepare an inventory of damaged items and verify the loss.

Learn more about NJM Condo Insurance, or explore other insurance topics in Ask NJM.

The content on this page is intended for informational purposes only. It is not an insurance policy, and does not, in any way, replace or modify the definitions and information contained in individual insurance policies. Terms and coverage availability may vary by state, and exclusions and deductibles may apply. Discounts also vary by state and may not be applied to all policy coverages. Coverage for an accident or loss is subject to the terms and conditions of the insurance policy applicable to a particular claim.