Tag: condo

Leaving your condo empty for an extended period is more common than people think, but what most owners don’t realize is that it can directly affect their coverage. At DGIA LLC in Round Rock, TX, we help condo owners understand exactly where they stand before a vacancy creates an unexpected problem.

How Vacancy Can Change Your Coverage

Most condo insurance policies include language around vacancy that can catch policyholders off guard. If your unit sits empty for 30 to 60 days, depending on your specific policy, your insurer may limit or deny certain claims. Things like water damage from a slow leak or vandalism can become complicated when a unit has been sitting unoccupied for a while, since insurers generally view an empty unit as carrying more risk than an occupied one.

What Counts as Vacant

There’s an important difference between a unit being unoccupied and being vacant. Unoccupied usually means your belongings are still there, but you’re temporarily away. Vacant typically means the unit is fully emptied and no one is living in it. That distinction matters a great deal when a claim is filed, since insurers tend to treat these two situations very differently.

Steps to Take Before You Leave

Let your agent know ahead of time if your unit will be empty for a while. Many insurers offer a vacancy endorsement that can help prevent your coverage from lapsing during that period. Staying on top of this is a simple step that many people skip, and it usually only becomes a problem once something has already gone wrong.

Reach out to DGIA LLC in Round Rock, TX, to ensure your condo coverage is set up to protect you even when your unit is empty.

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For residents in Round Rock, TX, who need information about condo insurance, call us at DGIA LLC with your questions. While condo insurance is not required by the state for individuals, it is recommended to protect your assets. The exception to having your own insurance is if you have financed the purchase of the condo, or if the condo association requires you to carry insurance. We’ll be happy to go over what your association’s master policy does and doesn’t cover.

What Is an HO-6 Insurance Policy?

For condo owners, an HO-6 policy is like having a homeowner’s policy. While your condo association’s master policy covers the exterior structure and community areas, such as hallways and lobby areas, it does not cover your personal belongings.

Condo Coverage

With an HO-6 policy, you are protecting the items inside of your residence, such as your clothing, electronics, and appliances.

You will likely want to have visitors to your home. If an incident occurs that results in an injury to the visitor or their property is damaged while they are in your home, your condo policy will cover the resulting medical expenses and legal fees.

If an event occurs that prevents you from living in your condo, you will have access to loss of use coverage for storage, moving, and temporary housing.

Interior areas and items, such as built-in appliances, fixtures, and floors that are not covered by the association’s master policy, are covered by your HO-6 policy. 

Contact Us

Sleep tight and stress free with an HO-6 policy designed to keep your personal belongings, plus the interior of your Round Rock, TX, condo protected. With a call to DGIA LLC, we’ll get the paperwork started whenever you’re ready.