Avoiding Condo and Co-Op Insurance Pitfalls at Real Estate Closings
Feb 13, 2025 ·
7m 13s
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Description
The Hidden Insurance Pitfalls That Can Kill Your Closing🚨 Real estate closings can go sideways fast—especially when insurance gaps are discovered too late! If you're a real estate agent, broker,...
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The Hidden Insurance Pitfalls That Can Kill Your Closing🚨
Real estate closings can go sideways fast—especially when insurance gaps are discovered too late!
If you're a real estate agent, broker, mortgage banker, or attorney, understanding master policies vs. HO-6 policies is crucial for protecting your clients.
📌 Master policies DO NOT cover:
✅ Personal belongings
✅ Interior upgrades (flooring, cabinetry, appliances)
✅ Water damage originating inside the unit
✅ Special assessments from the condo association
A missing HO-6 policy can delay or even kill a deal at the closing table. Don’t let your clients get caught off guard!
💡 Tip: Work with an insurance agent who can ensure buyers have proper coverage before closing day.
🏡 Need an expert in East Meadow, NY? The Dan Ratkewitch Agency – Allstate Insurance has your back!
show less
Real estate closings can go sideways fast—especially when insurance gaps are discovered too late!
If you're a real estate agent, broker, mortgage banker, or attorney, understanding master policies vs. HO-6 policies is crucial for protecting your clients.
📌 Master policies DO NOT cover:
✅ Personal belongings
✅ Interior upgrades (flooring, cabinetry, appliances)
✅ Water damage originating inside the unit
✅ Special assessments from the condo association
A missing HO-6 policy can delay or even kill a deal at the closing table. Don’t let your clients get caught off guard!
💡 Tip: Work with an insurance agent who can ensure buyers have proper coverage before closing day.
🏡 Need an expert in East Meadow, NY? The Dan Ratkewitch Agency – Allstate Insurance has your back!
Information
| Author | Dan Ratkewitch |
| Organization | Dan Ratkewitch |
| Website | - |
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