✅ Buying a condo (HO-6): insurance checklist
The regime usually insures the building, including flood through an NFIP master policy (RCBAP) that covers improvements within units, usually paid through dues (confirm the regime carries it). You insure your belongings, underinsurance gaps, and deductibles/assessments.
Get from property management (first week)
- 📄 Master property policy declarations page (wind included? deductible?)
- 🌊 Master flood (RCBAP) declarations page: building limit, deductible, expiration date
- 📨 Send both to your lender
Check the master coverage
- 📏 Flood limit vs. building value. Below 80% of replacement cost, a claim gets a coinsurance penalty, which can mean an assessment for owners
- 💸 Deductibles (flood and named-storm). Owners may be assessed for them
- 🏦 Lender check: no RCBAP or too low? Your lender must require your own flood policy
Your own policies
- 🏠 HO-6 for interior, contents, and liability. It won't cover flood
- 🛋️ Unit flood policy (NFIP Dwelling Form or private): contents up to $100K. Building coverage up to $250K also pays loss assessments (not the association's deductible)
- 🌀 Wind: confirm the master policy covers wind and your share of its deductible
- ⏱️ Timing: NFIP has a 30-day wait unless bought with your mortgage (apply on or before closing). Private waits vary (some 10 days or less)
🗺️ Flood zone lookup🌊 NFIP premiums✅ Home checklist
General info, not insurance advice. Ask your agent.
Details & sources
Run by a licensed South Carolina insurance professional. No quotes, no carrier endorsements. Rules, prices and coverage vary by policy and change over time; your policy and your agent have the final word. All sources.
lowcountryfloodwatch.com/guides/condo-checklist/ · Last verified Oct 2026 · General info, not insurance advice.