We closed a transaction today on a condominium and the topic of insurance had come up with the Realtor. We are now requiring a HO6 policy on all condos which acts as a gap to the insurance provided by the homeowners association. Many condo homeowners do not realize that the insurance paid through the dues may not include everything and this could prove very costly. We have a client who owns a condo in Antioch. She did not carry any gap coverage because she assumed that the homeowners association would cover any major damage. She is on the second floor and her water heater broke and flooded the downstairs unit. The association came back and said that this is not covered by them. She was stuck with an $8000 bill. Had she had the adequate gap HO6 coverage it would have been taken care of. Be careful not to assume this is the same as a renters type policy that just protects your personal property inside your home. If you do not know, we recommend consulting with an insurance agent immediately to ascertain what coverages you have.