Rhode Island HO6 policy is designed for condo owners in the state of Rhode Island.
The Rhode Island HO6 condominium insurance that standard insurance companies such as Allstate and Prudential in cities such as Providence, Richmond, North Providence or East Providence, will cover losses to any of your personal items and any structure you own. This policy also covers damages to any fixtures that have been upgraded since the home was purchased. Due to the recent housing crisis, many lenders and mortgage companies in the Richmond and Wakefield regions are requiring proof of insurance for condos.
What Does HO6 Insurance Cover in Rhode Island?
A standard condominium insurance policy in Rhode Island whether you live in Providence, Richmond or Cranston will cover most damages to your RI condo and your personal belongings from perils such as explosion, lightning damage from falling objects, trucks or vehicles.
What is One Benefit of Having Rhode Island Condo Insurance?
Value added (If you've put in a better quality carpet than was originally there, for example, this coverage would make up the difference in case of loss).
Buying Rhode Island Condo Insurance
Master Policy - Living in Rhode Island as part of an association, the association should have a master insurance policy to see what they cover so that you don't pay for coverage that is already covered.
Deductibles - This is the out of pocket amount that you will need to pay for each claim before the insurance policy kicks in. Additionally, there will be a deductible in the master policy in the event that there is an insurance claim under the master policy. Each member of the condo association will need to contribute their portion if there is some sort of disaster.
HO6 Condo Insurance Required in Most Areas Throughout Rhode Island
Due to the housing crisis, mortgage companies are requiring HO6 insurance policies for any new condo purchases in the state of Rhode Island.
Where is HO6 Condo Insurance in Rhode Island?
The state of Rhode Island now requires condo insurance everywhere you live:
- Providence, RI
- Richmond, RI
- Cranston, RI
- Wakefield, RI
- Warwick, RI
- East Providence, RI
- North Providence, RI
- Pawtucket, RI
- South Kingstown, RI
- Narragansett, RI
- Newport, RI
- North Kingstown, RI
- Peace Dale, RI
- Smithfield, RI
- Adamsville, RI
- Albion, RI
- Ashaway, RI
- Barrington, RI
- Block Island, RI
- Bonnet Shores, RI
- Bradford, RI
- Bristol, RI
- Brown Station, RI
- Burrillville, RI
- Carolina, RI