Condo Insurance is known as an HO6 Policy, Inside the Walls and Contents

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An HO6 Policy is Required By All Lenders

Covers Damage within the Walls and Contents

Condo Insurance

      All condos have insurnance for the complex. The owners need to get this policy even if paying cash which it is not required to get. A lender requires the HO6 when someone buys the unit. A 40/20 poilcy covers 40k within the walls and 20k for the contents. The lender basese the required insurance on the size of the unit and the price. The policy is not very expensive costing bewteen $500 and $1000 per year.

         Years ago I did not tell cash buyers that this was very important to buy. The damage caused by water intrusion caused several of my buyers to use the policy to fix the damage if they had bought the HO6 policy. Now I tell them it is a must do item. Almost all the damages I was aware of  came from roof leaks, wall leaks, broken water pipes, and other water intrusion items.

        The prices of the policies have come down and the prices are competitive. I use the All State Company run by Ross Shales who can quickly give quotes and help you with the policy that you need. They are a broker and will know what the best policies are.

           Buyers that have loans have to get the policy at the act of sale. Cash buyers can wait but it is best for them to quickly buy the policy at the sale or right after the sale.


Ross Shales

Allstate Insurance Broker

Call for Quotes and Questions

504-831-1778 Office

      This office is very professional and quick to give you the best policy for your needs. They do a lot of policies so know most all the condo associations and how to get the data that they need from the condo Association.