As a condo or co-op unit owner in Oregon, you may already know that your home is one of your most valuable assets. While your condo association insures common areas, it often doesn’t extend to protecting your personal unit or belongings. That’s why we at QuoteDesign are here to help you understand the importance of an HO6 insurance policy specifically designed for condo owners like you.
What Your HO6 Insurance Policy Covers
Your HO6 policy goes beyond the communal coverage provided by your homeowner’s association. Here’s how we can protect your unique home:
Building/Unit/Dwelling Coverage
Just like a homeowners policy, we offer coverage for damages to the structure of your unit due to perils such as fire, storms, and vandalism. Internal plumbing issues like a burst pipe? We’ve got you covered there too.
Personal Property and Theft Protection
We understand you’ve invested in personal belongings—be it a high-end TV, precious jewelry, or prized golf clubs. Our policy ensures these valuable items are covered against theft or vandalism.
Personal Liability and Medical Payments
Accidents happen. If someone is injured while in your unit or if you’re found responsible for property damage, our policy helps cover the legal and medical expenses involved.
Loss Assessment Coverage
When the condo association levies additional shared costs not covered by their policy, our loss assessment coverage steps in to give you financial peace of mind.
Additional Living Expenses
In the unfortunate event that you can’t reside in your unit due to a covered loss like a fire or windstorm, we offer coverage for your additional living expenses.
What an HO6 Policy Generally Doesn’t Cover
While comprehensive, there are circumstances where our HO6 policy might not apply:
Regional Hazards
For natural events like earthquakes, you’d need to purchase additional coverage specific to that risk.
Intentional Harm
Your liability coverage is designed for accidents, not intentional harm caused by you.
Municipal Water Damage
Your policy covers internal plumbing issues but doesn’t include problems arising from municipal water supply or sewer line backups.
Routine Wear and Tear
It’s your responsibility as a condo owner to maintain your unit; thus, normal wear and tear aren’t covered.
Unique Coverage Needs? We’re Here to Help
If you have specific circumstances—like if you’re renting out your unit—you may need additional coverage. Talk to one of our dedicated agents for tailored advice.
Getting Started with QuoteDesign
Understanding your insurance needs as a condo owner in Oregon is crucial. If you’re making any changes to your unit or bringing in new valuable items, be sure to let us know so we can adjust your coverage accordingly.
Ready to protect your home and peace of mind? Learn more about HO6 insurance from QuoteDesign today.
Feel free to contact our Oregon-based agents to discuss your unique needs. We’re here to provide the coverage that makes the most sense for you.
