Independent agency in Peoria, Arizona. Strategic Insurance Agency Alliance member.
Independent agency in Peoria, Arizona. Strategic Insurance Agency Alliance member.
Condo owners have unique insurance needs because their association's master policy may only cover the building's exterior and common areas. Condo insurance in Peoria fills in the gaps: the interior of your unit, your belongings, and your liability.
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A condo policy is called an HO-6, and HO-6 insurance in Arizona exists because of a specific gap. Your association carries a master policy on the building. Where that master policy stops is written into your association's declarations, and it is almost never where owners assume.
Some master policies are "bare walls": they cover the structure and the common areas and stop at the unfinished surface of your walls. Everything from the drywall in, cabinets, flooring, fixtures, appliances, is yours to insure. Others are "all in" and cover the original fixtures but not your upgrades. Two condos on the same street can need very different policies.
Then there is loss assessment. If a covered event damages common property and the association's policy does not cover all of it, the association can levy a special assessment and split the shortfall among the owners. We can help you find loss assessment coverage, which pays your share of certain costs when that happens.
Bring us the association's master policy summary. Reading it is the entire job on a condo quote, and it is the step most agents skip.
At a glance
Condo insurance in Arizona
Policy name
HO-6, sometimes called a walls-in or unit owners policy.
Required by law
No. Usually required by your lender and by the association.
The document that decides everything
Your association's master policy: bare walls, all in, or somewhere between.
Often overlooked
Loss assessment coverage, for your share of a special assessment after a covered event.
Not covered
Flood. That is a separate policy even inside an HOA community.
Read yours before you buy anything. These are the two shapes it will take.
Bare walls master policy
Association covers the structure and common areas only.
Drywall inward is yours: flooring, cabinets, fixtures, appliances.
Your HO-6 needs a real dwelling limit, not a token one.
A total interior loss with a thin limit is the classic condo underinsurance story.
All in master policy
Association covers original fixtures as built, plus the structure.
Your upgrades and improvements are still yours to insure.
Your HO-6 dwelling limit can often be lower, which lowers the premium.
Loss assessment still matters, because deductibles and shortfalls still get shared.
Your side of the wall
Four pieces, all of them starting where the master policy ends. The limits are set from your unit, not the building.
602-480-6453Condo
Declarations
Interior and improvements
Drywall, flooring, cabinets, countertops, built-ins and fixtures, plus any upgrades you or a previous owner installed that the master policy will not pay to replace.
Personal property
Furniture, clothing, electronics and everything else you would take with you if you moved, at replacement cost where the carrier offers it.
Liability protection
Covers legal costs if someone is injured inside your unit, and damage you cause to a neighboring unit, which in a shared building is the claim that actually happens.
Loss assessment coverage
Pays your share of certain costs if your association levies a special assessment after a covered event.
Limits are commonly modest by default and are worth raising deliberately.
Illustration of how a declarations page is laid out. Not a real policy.
Where the line sits
The shaded interior in this drawing is the part your HO-6 is responsible for under a bare walls master policy. The outer structure, the roof, the corridors and the courtyard belong to the association.
Under an all-in master policy, the association's coverage reaches further in, typically to the fixtures as originally built. Your upgraded kitchen, the new flooring, the remodelled bathroom, those are still yours. So the practical answer under either master policy is the same: you need an HO-6, and the limit depends on the document.
There is one more thing the drawing cannot show. Water travels down. A supply line that fails in your unit is a claim in the unit below yours, and that is a liability claim against you, not a structure claim against the building.
The outer structure sits on the association's master policy. The shaded interior, and everything in it, sits on yours. Where exactly the line falls is written in your association's declarations.
Because we are independent, we can match your unit to whichever carrier fits your association's master policy best, instead of squeezing it into the one company we happen to sell.
Most condo policies get quoted off a square footage and a ZIP code. That produces a number quickly and a wrong number often. The master policy summary is a two page document your association will send you on request, and it decides your dwelling limit, your loss assessment limit and whether your deductible lines up with theirs.
What we check
Whether the master policy is bare walls, all in, or a hybrid
The association's deductible, and whether it can be passed to owners
Your loss assessment limit against the size of the association
Improvements a previous owner made that are not in the original build
Whether your lender has a minimum coverage requirement in writing
Stillwater and Travelers are both regular markets here, and we will quote every carrier that writes condos rather than assume one of them is right.
In their words
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What is an HO-6 policy?
HO-6 is the industry name for a condominium unit owners policy. It covers the interior of your unit, your personal property, your liability and, when you add it, loss assessments from your association. It is designed to start where your association's master policy stops.
What is loss assessment coverage?
If a covered event damages common property and the association's insurance does not pay for all of it, the association can levy a special assessment against every owner. Loss assessment coverage pays your share of certain of those costs up to your limit. Default limits are often low, so it is worth deciding on the number rather than accepting it.
Do I need condo insurance if my HOA already has a policy?
Yes. The master policy covers the building and common areas. It does not cover your belongings, your liability, or in most cases anything from your drywall inward. Your lender will almost certainly require an HO-6 as well.
What happens if a pipe in my unit floods the condo below?
That is generally a liability claim against you rather than a claim on the building. It is one of the most common condo losses there is and one of the main reasons to look hard at your liability limit rather than taking the default.
Does condo insurance cover flooding?
No. Rising water from outside the building needs a separate flood policy, through the NFIP or a private carrier, even inside a managed community. Water damage originating inside the building, such as a burst pipe, is a different peril and is usually covered.
Free and no obligation
At Shield of Faith Insurance, we make it easy to compare options and find affordable coverage. Whether you need auto insurance, homeowners insurance, life insurance, or specialty coverage in Peoria, AZ, we're here to help.
Contact our Peoria office today to request your free, no-obligation insurance quote and discover how we can help you protect what matters most.
Call or text anytime during the business week. Evenings and Saturdays by appointment.
What happens next
1
A real person from our office calls you back with real numbers.2
No robo-dialers and no spam calls.3
You pick the coverage, we handle the paperwork.Service area
We write condo insurance in Peoria, AZ and across the West Valley. Whether you call it condo insurance, HO-6 insurance in Arizona or townhome insurance in Arizona, the policy is the same one and the master policy is what sets its shape. Send the association's summary and we will read it before we quote.
The 60 second version
Tell us what you own and how to reach you. We will do the comparing.
No robo-dialers and no spam calls. A local agent follows up personally. Sending this does not bind coverage.
Send us the master policy summary. We will read it and tell you what your HO-6 actually needs to carry before we quote a price.
