What's the difference between HO6 and HO4 insurance?

I'm moving into a condo and I want to know about the distinction between HO6 and HO4 policies.

The difference between having an HO4 vs. an HO6 policy comes down to ownership. If you own your condo, you will want to purchase an HO6 policy. This policy covers your individual unit in the same way that a standard homeowners policy covers a house. There is also coverage for your personal property and liability.
However, even with a condo policy, you will pay a separate association fee for a group policy that will cover damage to the building’s structure beyond your individual unit, the roof, and other structures on the property.
If you are a renter, then the HO4 policy is for you. It is one of the most affordable coverages you can have, and it covers your personal property and liability. It doesn’t matter what type of residence you are renting; whether it is an apartment, house, or condo, your landlord will need to have a policy for the structure. You only need to cover your belongings and liability.
Shannon Martin
Answered on Mar 12, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.

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