Walls in insurance is another name for condo insurance. You might also hear it called an HO6 policy, condominium insurance, or unit owner insurance.
Why is condo insurance called walls-in coverage?
Condo insurance is sometimes called walls-in coverage because the coverage usually applies to everything within the exterior walls of a unit. Unlike other types of homeowners insurance, it doesn’t provide coverage for key structural elements of an individual home – rather, it protects only the things that constitute a particular unit.
What does a walls-in policy cover?
Most walls-in insurance policies cover your unit’s:
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Interior walls.
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Floors.
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Ceilings.
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Fixtures.
If you suffer a loss that is confined to your unit, such as a fire or leak, walls-in coverage can be used to help repair the damage to your unit, replace your damaged personal property, and provide you with additional living expenses. And if your entire complex is affected by a covered event, then your walls-in insurance can help with the financial losses you sustained from damage within your individual unit.
In addition to covering your unit, condo insurance may cover other owner responsibilities, such as alterations to your unit or their parking space. Most policies also have loss assessment coverage.
Walls-in insurance also covers your personal belongings and liability. However, the structure of the condominium building, its common areas, and sometimes certain other structures located within a complex, like a community party room or guard station, aren’t covered. These properties are generally protected by your condo association’s master policy.
Important to note: Most condo insurance policies have language stating that the coverage applies to whatever the condominium association documents say the unit owner is responsible for. Essentially, if the bylaws say you’re responsible for an area or structure, then this language creates the coverage that protects your interests.
Condo association rules can differ greatly, so you may have questions about who’s responsible for insuring doors, windows or exterior balconies. The key is checking your bylaws. These documents should lay out the specific details of what you’re responsible for insuring.
