What policy should an insured condominium unit owner purchase for fire and liability coverage?

A condominium unit owner typically needs a specialized insurance policy that covers both personal property and liability within their specific unit. An HO-6 policy is designed specifically for condominium owners, providing coverage for the interior structure of the unit, personal belongings, and liability protection. This type of policy fills in the gaps left by the condominium association's master policy, which usually covers the common areas and the building's exterior.

The HO-6 policy includes coverage for improvements made to the unit, which is particularly important in condos where owners often make customizations. It also provides personal property coverage, allowing unit owners to protect their belongings from perils such as fire, theft, and vandalism.

Other policy types mentioned do not meet the specific needs of a condominium unit owner. For instance, an HO-3 is a standard homeowners policy primarily intended for single-family homes and does not cater to the unique requirements of condo owners. The HO-5 offers similar coverage to the HO-3 but provides broader protection for personal property, yet it is still not tailored for condominium specifics. An HO-4 is known as a renters policy and does not cover the structure of a unit, focusing instead on personal property and liability, which also makes it unsuitable for condominium owners who own the unit