What are the essential coverages I need on my personal HO-6 policy?

To ensure you aren’t left with significant out-of-pocket costs, we recommend that your personal HO-6 policy includes:

1. Dwelling Coverage (Coverage A): Set this limit high enough to cover the HOA’s master deductible and any interior upgrades.

2. Sewer Backup/Sump Pump Overflow: This protects you from water damage originating from internal drains, which can be a common issue in multi-unit buildings.

3. Loss Assessment Coverage: This is your protection against Special Assessments issued by the Board for insurance-related losses.

4. Personal Property (Coverage C): Don’t forget to insure your movable belongings (furniture, clothes, electronics), as these are never covered by the HOA.