10 Steps to a Well-Designed HO 6 Policy
I originally wrote this article 6 years ago, but it is time to revisit the topic. In recent years, townhouse/condominium associations have been choosing higher deductibles on the master policy to keep costs down while simultaneously shifting responsibility for the entire master policy deductible to affected individual unit owners. The insurance industry has just responded with deductible assessment endorsements to the HO 6 policy intended to cover the unit owner's responsibility for the deductible. In some cases today, that assessment can be as high as $25,000 or even $50,000.