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Your best strategy is to work with your broker -- whether you are the owner or the lessee, or the sub-lessee -- to determine the coverage available under the owner's HO-6 policy.
Since all governing documents define ownership boundaries differently, and all master policies define coverage differently, as do HO-6 policies, getting a specific answer to your specific question is strongly suggested.
In these matters, there are no standards.
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∙ 13y ago
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Who should buy ho6 condo insurance?
HO6 condo insurance covers damage to the interior of the condo and the possessions therein from things such as fire, theft, water damage, etc. The master policy that covers the building only covers exterior damage. HO6 insurance would be necessary in places where wild fires or other natural disasters are somewhat frequent.
What does ho-4 mean on homeowners insurance?
Ho4 means it's a renters policy ho3 is a homeowners policy ho6 is a condo policy dp3 is a rental property (landlord coverage)
Is a ho 6 insurance policy the same as a ho 3 insurance policy?
No. "HO3" is for owner occupied dwellings. "HO6" is an owner occupied, condo unit owner's policy. HO3 is for the house itself (dwelling), personal property, liability, and loss of use. HO6 is for personal property, "walls-in" coverage (usually called additions & alterations), liability, and loss of use
What is the different between ins policy HO2 HO4 HO6?
B"H HO2 is a type of homeowners that covers the home and usually contents for basic losses like fire, smoke, wind, etc HO4 is a renters policy that covers personal property/contents for losses like fire smoke wind theft etc HO6 is a condo/co-op policy that covers some structure (ie: walls in) and personal property for covered losses like fire, smoke, wind etc For more information please call 516-374-7700
How do your insure personal items in case they are stolen?
This situation is covered by a homeowner's insurance policy (HO3), Renters insurance (HO4) or unit owner's (HO6) policy. Call your insurance agent for more information on costs and coverages.
What company provides good ho6 condo insurance?
Condo insurance is basically renters insurance. You can go to a few different companies to do this, the best and most prominent one is probably State Farm Insurance.
How much coverage do you need to have on an HO6 condo insurance policy?
Best practices dictate that you work with the broker who write the master policy, to determine whether or not the master policy is an 'all-in' policy. An all-in policy includes coverage for windows, doors, interior furniture, including cabinets, bathroom fixtures and so forth. You can imagine turning your unit upside down. Everything that falls out is your responsibility to insure, if the master policy is an all-in policy. An all-in policy also covers upgrades if they have been documented with the association. If not, your broker can help you define what you need to insure in your unit. As well, your HO-6 policy can cover paying your assessments should your unit become uninhabitable, cover your living expenses as well, and other benefits offered to condominium unit owners.
Why would your insurer ask for the age of the roof when you are applying for an HO6 policy in a condo?
Living in a condominium means that you pay two types of insurance. You pay for the premiums on a master policy through your assessments. The master policy insures the assets that you and all the owners own in common.The HO-6 policy that you buy insures your condominium assets, as defined in your governing documents: the portion of the real estate that you own outright.Your governing documents define the line between what you own individually and what you own with all the other owners, in common. Examples are: 'from the skin in', 'from the paint in', 'from the studs in', and so forth. Each set of governing documents defines this line uniquely.Your insurer wants to know the age of the roof, because its age is a risk for potential damage to the condominium assets you own.Your board of directors or your property manager can tell you the age of the roof.
Which raw material used in the manufacture of nylon?
The raw material used in the synthesis of Nylon is Adipic Acid
