What type of coverage does the HO-6 provide on personal property?

The HO-6 policy, commonly known as a condominium unit owners policy, provides coverage on personal property under a Broad Form Named peril basis. This means that it covers personal property against specific risks that are explicitly listed in the policy.

Broad Form Named peril coverage includes a variety of risks such as fire, theft, and certain types of water damage, but it does not cover every possibility—only those specifically named. This type of coverage is designed to protect condo unit owners from losses to personal possessions within their units, making it highly relevant for those living in multifamily residences where not all risks may be covered by the building's master policy.

The options that reference Basic Form, Special Form, or Comprehensive Form do not accurately describe the HO-6 coverage. Basic Form generally includes fewer perils and is less comprehensive, while Special Form would provide open peril coverage on the dwelling but not specifically for personal property. Comprehensive Form is a term typically associated with auto insurance rather than property insurance. Thus, Broad Form Named captures the essence of coverage in an HO-6 policy effectively, ensuring that unit owners have protection for their belongings against a defined list of dangers.