Many condo or co-op buyers don’t take the time to shop for the best insurance deal. The following are four things to look for when shopping for an HO-6 (condo or co-op) policy.
Sometimes this includes not only improvements you make but also those made by previous owners. In other cases, the association is responsible only for insuring the bare walls, floors, and ceiling. The owner insures everything else. Other coverage options you may be able to get depending on the area, association, or board are: Unit assessment, [...]
When you buy a condo or co-op, you’ll likely pay for two policies. The homeowners association or co-op board buys a master policy that covers the common areas such as roof, basement, elevator, boiler, walkways, and infrastructure for liability and physical damage. The cost of this coverage is passed along to you as part of [...]