Homeowners InsuranceQuestion 136 of 215
Which homeowners form is intended for a condominium unit owner and includes a loss-assessment coverage for assessments levied by the condo association?
a.HO-6
b.HO-3
c.HO-4
d.HO-8
Explanation
The HO-6 is the condo unit-owners form. It covers interior building items the owner is responsible for (cabinets, flooring, fixtures), personal property, additional living expense, liability, and medical payments. A built-in loss-assessment coverage responds when the homeowners association assesses unit owners for a covered loss to common property, subject to the policy's assessment limit.
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Related questions on this topic
- An HO-3 policy provides what kind of peril coverage on the dwelling (Coverage A) and on personal property (Coverage C)?
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- Which homeowners form provides open-peril ("all-risk") coverage on BOTH the dwelling AND personal property?
- An owner of a 110-year-old Victorian in San Francisco cannot find a standard HO-3 policy because the replacement cost exceeds the market value by a wide margin. Which homeowners form is designed for older homes and settles dwelling losses on an ACV (actual cash value) basis?
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