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📋 '''HO-6 policy''' is a [[Definition:Homeowners insurance | homeowners insurance]] form specifically designed for condominium unit owners in the United States, standardized by the [[Definition:Insurance Services Office (ISO) | Insurance Services Office (ISO)]] and commonly referred to as "condo insurance" or a "walls-in" policy. It covers the interior of the individual unit — including fixtures, improvements, and [[Definition:Personal property | personal property]] — along with [[Definition:Liability coverage | personal liability]], filling the gap between the [[Definition:Condominium association | condominium association's]] master policy, which typically insures the building's common areas and structural elements, and the unit owner's individual exposure. This complementary structure means the HO-6 is not standalone coverage but rather a critical piece of a layered protection arrangement unique to condominium ownership.

⚙️ Coverage under the HO-6 is organized similarly to other homeowners forms but with important distinctions. Coverage A (Dwelling) applies to alterations, appliances, and improvements within the unit that the owner has made or is responsible for — its scope depends heavily on the condominium association's governing documents and master policy, which define where the association's insurance responsibility ends and the unit owner's begins. Coverage C addresses personal property on a [[Definition:Named perils | named perils]] basis in the standard form, though many [[Definition:Insurance carrier | carriers]] offer [[Definition:Endorsement | endorsements]] to broaden this to [[Definition:Open perils | open perils]]. A particularly important component is [[Definition:Loss assessment coverage | loss assessment coverage]], which responds when the condominium association levies a special assessment against unit owners to cover a loss that exceeds the master policy limits or falls within its [[Definition:Deductible | deductible]]. Without this provision, unit owners can face unexpected out-of-pocket charges following a major building [[Definition:Claim | claim]].

💡 The HO-6 fills a coverage niche that many condominium purchasers initially overlook, often assuming the association's master policy fully protects them. In reality, the interplay between the master policy and the HO-6 is one of the more nuanced areas of [[Definition:Personal lines | personal lines]] insurance, requiring agents and [[Definition:Underwriter | underwriters]] to review the association's declarations and bylaws carefully to identify coverage gaps. Mortgage lenders frequently require unit owners to carry an HO-6 as a condition of financing, ensuring that the lender's collateral interest in the unit's interior and improvements is protected. While the HO-6 form is specific to the U.S. market and its ISO-based policy framework, analogous coverage needs exist wherever condominium or strata-title ownership structures are prevalent — including Australia's strata insurance arrangements and similar regimes across parts of Asia and Europe — though these markets address the gap through different product structures and regulatory frameworks.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Homeowners insurance]]
* [[Definition:HO-3]]
* [[Definition:Condominium association]]
* [[Definition:Loss assessment coverage]]
* [[Definition:Personal property]]
* [[Definition:Named perils]]
{{Div col end}}

Definition:HO-6 policy - Revision history

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