Master policy vs. HO-6, loss assessment, and what Alabama condo and townhome owners should check.
Most Alabama condo associations carry a master policy for the building and common areas. Your HO-6 policy covers what the master policy does not. The key is matching the two so there are no gaps and no wasted duplicate coverage.
Request the master policy coverage summary, the deductible (including any wind/hail deductible), and the insurance section of your bylaws. Large master deductibles can be passed to unit owners, which is where loss assessment coverage helps.
Townhome HOAs vary. Some insure the structure; many do not. Your HOA documents decide whether an HO-6 or an HO-3 homeowners policy is the right fit.
Leaks from your unit into a neighbor's are a common condo claim. Personal liability and adequate water damage coverage matter, and water-leak sensors may earn a credit.
Request a free quote or call (678) 402-7354
Typically the building structure, common areas, and certain building elements, depending on whether it is a bare-walls, single-entity, or all-in policy and your association documents.
Your personal property, interior items the master policy excludes (often flooring, cabinets, fixtures, and improvements), personal liability, loss of use, and loss assessment.
If the association charges owners for a shared loss or for the master policy deductible, loss assessment coverage can help pay your share, up to the limit you choose.
It depends on the HOA documents. If the association insures the structure, an HO-6 is common; if you own and insure the structure, you may need an HO-3. Send us your HOA insurance requirements.