Which homeowners insurance policy is designed for condominium owners?

The homeowners insurance policy designed specifically for condominium owners is the HO-6 policy. This type of policy provides coverage for the interior of the condominium unit, including personal property, and liability coverage. It typically covers improvements and betterments that the owner has made to the space, such as upgrades to the kitchen or bathroom, while the condominium association's master policy generally covers the common areas and the exterior of the building.

Condominium insurance policies like HO-6 are essential for condo owners because the association’s policy usually does not cover personal belongings or the interior structure of individual units. Therefore, an HO-6 policy fills that gap by providing the necessary coverage for items that might otherwise not be protected, such as furniture, appliances, and any personal items within the unit.

Other insurance policy types listed do not cater to condominium owners specifically. The HO-4 is designed for renters, providing coverage for personal property only, while the HO-5 is more comprehensive and aimed at homeowners with single-family residences. The HO-7 is intended for mobile or manufactured homes. Each of these policies serves distinct situations and does not address the unique needs of condominium ownership like the HO-6 does.