AMsuite Condo (HO-6)

Offer HO-6 coverage for harder-to-place rental and seasonal use condominiums.

Most requests for condominium insurance are for an owner occupancy, and you likely have a good solution to recommend. But when the home is a full-time rental, or just used seasonally, finding coverage may be a challenge. You can help these customers with American Modern’s HO-6 program. It’s tailored to a full-time rental or a part-time seasonal unit. This program is available in most, but not all, states.

Key program points

• Properties can be titled in the name of an individual, in the name of a single family (important for seasonal use units) or an LLC (important for rental properties).
• Units in a high rise building are eligible.
• Liability coverage is extended to a property manager who oversees a rental property on behalf of the owner. Landlord personal injury is an optional coverage.
• Water coverage is included.

Recommendation

Be sure to contact the community’s insurance agent to understand the coverage purchased by the homeowners association to protect the building, and also contact the community’s property manager to understand the unit owner’s responsibilities and any insurance requirements specified in the governing documents.

Downloads / Links

• Condo - Program Overview / Sell Sheet
• AMsuite Training Resources
• A complete Program Manual can be found under the Forms tab in AMsuite.