https://robfreeman.com/what-walls-in-... - If you buy a condominium your mortgage lender may ask you to provide proof of "walls in" insurance coverage for the condominium building.

But what does "walls in" mean..? And why is your condo mortgage lender insisting that it be part of your condo building's insurance coverage?

The terms "walls in", "bare walls in" and "all in" have different meanings, but are sometimes conflated or used interchangeably.

Each term refers to the amount of property insurance you will have on your condominium through your condominium association's insurance policy.

To make it more confusing, "Walls in" can also be a term used for an HO-6 form, also known as a condominium owner's insurance policy. The HO-6 form protects your condo and your own personal property in the condo itself.

The breadth of insurance coverage being provided to the condominium association is the essential difference between these terms...

Condominium mortgage lenders prefer broader terms because it means that their collateral (your condo) is more broadly protected in the event of a property loss, such as a fire or flood.