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 Massachusetts Condo Insurance HO-6
“Walls In” Coverage and when does a Borrower need it?

MA “Walls In” coverage is also called MA Condo Insurance HO-6 coverage.  

Fannie Mae requires that lenders verify that Hazard Insurance for all common interest developments including PUD’s and condominium projects with attached units covers fixtures, equipment, and other personal property inside individual units. 

The updated policy now requires that the borrower obtain a “Walls-In” coverage policy (commonly known as MA Condo Insurance HO-6 policy) unless the lender can document that the master policy provides the same interior unit coverage.  The MA master insurance policy must include replacement of improvements and betterment coverage to cover any improvements that the borrower may have made to the unit. 

The MA Condo Insurance HO-6 insurance policy, also called a “Walls In” policy must provide coverage in an amount that is no less than 20 percent of the condominium unit’s appraised value.  The standard requirement for a 5% deductible applies. 

Fannie Mae requires individual insurance policies for each unit mortgage in a PUD (Planned Unit Development) project.  If the project’s legal documents allow for blanket insurance policies to cover both the individual units and the common elements, we will accept the blanket policies in satisfaction of our insurance requirements.  The PUD, MA association master insurance policy must cover all of the common elements except for those that are normally excluded from coverage, such as land, foundation, excavations, etc.  Fixtures and building service equipment that are considered part of the common elements, as well as common personal property and supplies, should be covered. 

The bottom line is that in a common interest development we need evidence the MA Master Insurance Policy provides the same interior unit coverage as an HO-6 policy in writing from the insurance company.  Or the borrower will need to provide an MA Condo Insurance HO-6 policy for coverage equal to 20% of the appraised value.


Doesn't my HOA's,  Ma Master Condo insurance already cover my condo?
I hope this information helps for smooth closings without last minute insurance issues to resolve.  If you have any questions please feel free to contact our agency Savin Jones Insurance anytime. 

Doesn't my HOA's,  Ma Master Condo insurance already cover my condo?

Contrary to popular belief, your HOA's Ma Master Condo Insurance does not cover the contents or interior structures (walls, flooring, countertops, etc.) of your condo. Generally, HOA master policies provide variations on 2 types of coverages:

  • Bare walls in — This type of coverage only covers the exterior structures (roof, exterior walls, elevator, pool, etc.) of the condo complex. Everything inside the condo (personal belongings, appliances, flooring, etc.) is your responsibility, which means you'll pay out of pocket to replace or repair damaged or stolen items.**  MA Condo Insurance HO-6 Policy needed!
  • All in — This coverage protects the basic building as well as the items within your unit, except for your personal property.

Check your HOA's, Ma Master Condo Insurance policy (which should be given to you at the time of purchase) to see exactly what is and isn't covered. And even if your master policy provides all-in protection, it's still wise to consider condo insurance for the personal property protection and liability coverage it provides. Call, email or stop by our office for questions and or a free insurance quote!!

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