HO 6 Insurance Policy for your Condo
Many times known as an Insurance policy that protects your units within the walls of your unit. It also protects the contents of your unit. This is a must for all sales. The lenders makes you get a policy to protect their interest. A cash buyer should also have one. They are just not that expensive.
The insurance polices of condo association have very high deductable
nd these policies can oftern mke up the difference large large suprises. It is most often used for freak occurances.
We has Hurricaane Issac that hit New Orleans a couple of years ago. Not a powerful storm but it rained for 48 hours with 50-70 mile per hour winds. I knew first hand from my owners and sellers how valuable this was from various water leaks in some of the old buildings that suffered leaks from windows, walls and roofs. The insurance compaines quickly sent out accessors and got the damage repaired in short order.....