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What this task is

This task collects the HO-6 “walls-in” condo insurance policy for a condominium unit. Unlike the condo association’s master policy, an HO-6 policy:
  • Typically covers interior finishes, fixtures, and personal property, and
  • May provide loss assessment coverage for certain association-level claims.
The policy is specific to the individual condo unit rather than the entire building or project.

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When this task is required

This task is required when:
  • The subject property is a condominium, and
  • The condo master policy does not fully cover interior unit elements, or guidelines otherwise require separate HO-6 coverage.
This is commonly seen when:
  • The association policy provides only bare walls or shell coverage, and
  • Borrowers must carry their own interior coverage to meet program and investor standards.

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Why this task is required

Lenders need to confirm that the collateral is fully insurable, including:
  • The structure and common elements (via the master policy), and
  • The unit interior (via the HO-6 policy).
The HO-6 policy:
  • Protects the borrower and lender against loss or damage to the interior of the unit.
  • Ensures that minimum coverage levels and deductibles meet program guidelines.
  • Helps validate that the borrower’s total insurance costs are properly reflected in PITIA when required.
Without the HO-6 documentation, there may be coverage gaps that increase risk or violate agency, investor, or lender requirements for condo loans.

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Documents needed to resolve this task

To satisfy this task, provide:
  • The current HO-6 condo insurance policy or declarations page for the unit:
    • Showing unit address, policy period, coverage limits, and deductibles.
    • Identifying the named insured and the insurance carrier.
  • If applicable, any endorsements or riders that expand or limit coverage (for example, special coverage for improvements or assessments).
These documents allow the underwriter to confirm that the condo unit is appropriately insured from the walls in, consistent with guidelines.