Frequently Asked Questions and Answers
What is HO6?
HO6 is a home insurance for owners of cooperatives or condominiums that covers the exclusive elements of the owner. Provides personal property coverage, liability coverage, and specific coverage for improvements to the owner’s unit. Generally, the homeowner’s condominium or cooperative association provides insurance that covers the exterior of the home (structure). However, it is important to have condo insurance since your association’s policy will not cover your belongings or provide you with personal liability coverage if someone is damaged inside your residence.
An HO6 policy will cover interior damage to your unit, improvements, additions, and alterations you’ve made, and your personal property. Improvements are those alterations made to your apartment such as kitchen remodeling, bathroom countertops, closets, floors and others, that is, what the apartment did not originally have. Additional living expenses are also usually included, if you cannot live in your residence due to a covered peril. The condo association policy generally covers the exterior structure of the building and common areas, such as hallways.
Yes, the HO-6 policy is flexible and you can make changes at any time. You must request the change in writing to your insurance agent so that we have a record of the request.
They cannot be included, but a similar policy can be made only in Puerto Rico called “Personal Package”. This program agrees to include cars and other belongings within a single policy.
Yes, it is possible to make these asset inclusions by making an endorsement (change) to the policy. This can be done by also including works of art and other collectibles, which are not automatically covered in traditional covers.
The cover of the HO-6 is a world class. Yes, it covers you within the limits that you acquire in your coverage.
Yes, companies can increase the limit up to $50,000 with your approval.
The earthquake apportionment cover is NOT an automatic. It is necessary to add it to get the cover.
The HO-6 policy has the option to include the furniture of the property.
An endorsement (change) must be made to the HO-6 by adding this type of cover. This damage is very common in Puerto Rico and is highly recommended.
Anytime you have damage to your property. Theft, assault, vandalism, among others.
It means that the policy only covers the bare walls and communal areas of the condominium. Does not include plastering, painting, cabinets, doors, tiles, toilets, bathtubs, closets, furniture, personal public liability, among others. Anything proprietary is excluded.
Yes, having the HO-6 policy includes liability coverage which provides legal defense and in the event of being legally responsible for damages up to the limit of the insurance purchased by the insured.