HO-6 is designed specifically for which type of property owner?

HO-6, also known as a condominium policy, is specifically designed for condominium owners. This type of policy addresses the unique needs of individuals who own units in a condo complex. Unlike a single-family homeowners policy, which covers the entire structure of a private residence, the HO-6 policy provides coverage for the interior structure of the unit, personal property, and potential liability.

Condominium owners are typically responsible for their unit and its contents, while the condominium association covers the exterior structure and common areas. Therefore, the HO-6 policy is tailored to bridge the gap between what the association covers and the personal property and structural components for which the unit owner is responsible.

This design is crucial for condo owners because it ensures they have appropriate protection against risks like theft, damage, and liability, which may not be fully covered by the master policy held by the condominium association. That makes it an essential policy for individuals living in condominiums, setting it apart from the needs of single-family homeowners, renters, or commercial property owners.