Condominium Insurance

Given the unique risks associated with condominium living in St. Petersburg, Florida, Bozeman Insurance prides itself on assisting you in securing an insurance policy to protect you and your loved ones financially.

What Is Condo Insurance?

Condo insurance, also known as HO6 insurance, is a specialized policy designed to help protect condo owners from covered perils. It can help provide coverage for the interior structure of the unit, personal belongings and liability protection. Unlike traditional homeowners insurance, which can cover the entire property, condo insurance may help cover the individual unit and its contents.

What Is the Difference Between HO3 and HO6 Insurance?

HO3 insurance is a standard homeowners policy that may help cover single-family homes, including the dwelling, other structures, personal property and liability. In contrast, HO6 insurance is designed for condos and co-ops and may cover the unit's interior, personal belongings and liability, but not the building's exterior or common areas.

An HO6 policy is typically required for condominium owners. This policy complements the condo association’s master insurance, which usually covers the building’s exterior, roof and shared spaces. Condo insurance may help fill coverage gaps by protecting the interior and the owner’s personal assets.

How Much Condo Insurance Do I Need?

The amount of condo insurance you need depends on several factors, including the value of your personal belongings, the cost to repair or replace the interior of your unit, and your liability coverage requirements. Assessing these factors and consulting with an insurance agent can help you determine adequate coverage.

How Many Insurance Claims Can I File Per Year?

There is generally no limit to the number of claims you can file against your insurance policy; however, it’s important to review your specific policy details for any related exclusions. Additionally, it’s important to consider any applicable deductibles you may need to pay for each claim. Filing multiple claims within a certain period may also heighten your perceived risk level and could affect your premiums.

Learn More

Contact Bozeman Insurance in St. Petersburg, Florida, for a condo insurance quote.