HO6 Insurance for NJ - Landlord Forum thread 359730

HO6 Insurance for NJ by sue on September 18, 2019 @14:07

Can anyone give me info for HO6 Insurance for a condo property in NJ?
Some Mortgage company requires it.
Since the condo is covered under Condo association insurance, the HO6 shouldn't be too much to cover the interior parts. The tenants can insure their own belongings.
any good insurance companies that you can suggest?
Any help would be appreciated.
Thanks

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Re: HO6 Insurance for NJ by Robert on September 24, 2019 @14:14	[ Reply ]

Just call your insurance agent and ask them about HO6. If they dont know anything then quickly change companies. HO6 will cover you if a hailstorm destroys the roofs and now the insurance companies have a 5% of total value of complex, so deductible could be several hundred thousand. If the HOA send you a bill for your share of the new roof then the HO6 policy will cover your payment up to @$10K per condo. HO6 does not cover the interior you should have a separate policy protecting your property and have a HO6 rider attached.