10 Steps to a Well-Designed HO 6 Policy

Today, an owner of a condominium or townhouse is much more likely to have major insurance gaps in his or her property and liability insurance coverage than the purchaser of any other personal insurance policy is. There are several reasons for this.  First, the basic structural coverage of the standard unit owners policy (HO 6) is generally quite inadequate. For starters, the perils covered are the equivalent of a homeowners form 2—named perils on building and contents. Also, the structural coverage limits are usually grossly inadequate. Typically, the Coverage A structural coverage under the HO 6 policy is just $1,000. Most unit owners are legally responsible for insuring much more than that.    Read the article……….


Related Articles

Drone Wars: South Carolina Drone Laws and Your Homeowners Association and Condominium Association

As highlighted in his recent blog post, Jim Slaughter of Rossabi Black Slaughter, P.A., noted the explosion of drone purchasing

Online Voting

Many community associations struggle with member involvement. In fact, today’s busy lifestyles make it difficult, even for the most civically

Arbitration Ruling Illustrates Associations Cannot Impose Certain Rules, Prerequisites for Granting of Records Requests by Unit Owner

A recent arbitration ruling over a request to inspect the official records of a condominium association by a unit owner