If an insured is renting a condominium, which homeowners policy is the best option for them?

The best option for an insured who is renting a condominium is the HO-4 policy, also known as a renter's insurance policy. This type of policy is specifically designed for tenants who do not own the structure but want to protect their personal belongings and liability. An HO-4 policy covers personal property against specific risks, as well as liability coverage in case someone is injured in the rented unit.

In the context of a rented condominium, the tenant typically does not need coverage for the structure itself, as that is the responsibility of the condominium association and covered under their master policy. Instead, the tenant needs to ensure that their personal items, such as furniture, electronics, and clothing, are protected and that they have liability coverage in case of damages or injuries that occur within the rented space.

While the other types of homeowners policies, such as the HO-3, HO-5, and HO-6, serve specific purposes related to homeowners, they are not suited for renters. The HO-3 and HO-5 are designed for homeowners who own their properties and provide coverage for the structure as well as personal property. The HO-6 is tailored for condominium owners themselves, covering the interior of their individual unit. Therefore, the HO-4 policy is