What Is HO-6 Insurance and Do You Need It as a Florida Condo Owner?

HO-6 insurance is the unit owner’s condo insurance policy specifically designed for condominium unit owners. In Florida, where condominiums represent a massive share of the housing market from Miami to Fort Lauderdale to Boca Raton, understanding what your HO-6 policy covers — and what it does not — is one of the most important financial decisions you will make as a property owner.

What HO-6 Stands For

HO-6 refers to the Insurance Services Office (ISO) homeowners policy form designed specifically for condominium unit owners. Just as a single-family home owner carries an HO-3 policy, a condo unit owner carries an HO-6. The fundamental difference is that the HO-6 is designed to complement the condo association’s master policy rather than stand alone as comprehensive dwelling coverage.

What Your HO-6 Policy Covers

Your Florida HO-6 policy typically covers your personal property up to your chosen coverage limit, interior building property including flooring, fixtures, and improvements from the walls inward, personal liability protection if someone is injured inside your unit, additional living expenses (ALE) if you must temporarily relocate after a covered loss, and loss assessment coverage which protects you from special assessments levied by the association after a major covered loss event.

Is HO-6 Insurance Required in Florida?

Florida state law does not require individual unit owners to carry HO-6 insurance, but your lender will require it if you have a mortgage on the unit. Many condo associations also now require it as a condition of ownership under their governing documents. Even if it is not required, going without HO-6 coverage in Florida exposes you to potentially catastrophic financial losses — a single hurricane or major water intrusion event can cost tens of thousands of dollars in interior repairs and personal property replacement that your association’s master policy will not cover.

How Much Does HO-6 Insurance Cost in South Florida?

HO-6 insurance premiums in South Florida vary based on the unit’s value, location, the building’s construction and age, your chosen coverage limits, and your deductibles. As an independent broker, Insurance Risk Advisors shops HO-6 coverage across multiple carriers to find competitive rates for condo owners across Miami, Fort Lauderdale, Sunrise, Boca Raton, and throughout South Florida.

Call Insurance Risk Advisors at (954) 226-5424 or get a free quote online. Proudly serving Sunrise, Fort Lauderdale, Coral Springs, Pembroke Pines, Boca Raton, Hollywood, Miami, and all of Broward, Miami-Dade, and Palm Beach County.