- Average HO-6 condo premiums could be as low as $44 monthly, lower in some states.
- Condo policies cover upgrades, personal property, and liability.
- A condo insurance policy can cover extra costs if you're unable to live in your condo.
Condos are a great choice for those looking for a space to call home but aren’t yet ready for the responsibilities of being a traditional homeowner. Since condo associations typically handle maintenance and repairs, owning a condo means you’ll have fewer things on your plate.
That said, you’ll still be responsible for buying HO-6 condo insurance to protect your personal belongings and cover any liabilities. Here’s everything you need to know about HO-6 condo insurance, how it works, and how much coverage you need.
What is Condo Insurance (HO-6)?
HO-6 insurance is a type of homeowners insurance for condo or co-op owners. Having the right type of insurance is important when you own a condo. Learn how HO-6 condo insurance works and how it differs from standard homeowners insurance.
Understanding HO-6 Insurance for Condo Owners
A typical HO-6 policy covers the interior of your condo, your belongings inside the unit, and personal liability — which typically aren’t included in the condo association's master policy. HO-6 insurance policies may also come with loss assessment and loss of use coverage, which we’ll touch on later in the article.
Condo insurance isn’t required by state law. However, if you have a mortgage, your lender will require it to protect their investment. Additionally, a condo association's by-laws may require owners to have condo insurance.
How HO-6 Insurance Differs from Homeowners Insurance
The major difference between standard homeowners insurance and condo insurance is the dwelling coverage. Since condo owners don't actually own the physical building, their HO-6 insurance doesn't provide dwelling coverage in the way that traditional homeowners insurance does.
In other words, HO-6 insurance policy coverage typically does not extend to the building’s exterior or common areas, as these are usually covered by the condominium association's master policy. On the other hand, homeowners insurance typically covers damage to the entire interior and exterior structure of a house.
Do You Need Condo Insurance If Your HOA Has a Master Policy?
Knowing how your condo association’s master policy works is important because the amount of HO-6 dwelling coverage you need depends on your condo’s master policy and whether coverage extends to the inside of each unit. The more the master policy covers, the less dwelling coverage you’ll need to buy, and the cheaper your HO-6 insurance premiums are.
What Does Condo Insurance Cover?
In short, HO-6 condo insurance covers what’s inside the walls of your condo unit. Here’s a detailed breakdown of what’s generally included in your HO-6 condo insurance coverage.
Personal Property Protection
This coverage protects your personal belongings, such as furniture, electronics, and clothing, against risks like theft, fire, and vandalism.
Interior Unit Coverage (Walls, Floors, Fixtures)
HO-6 policies often cover the interior structure of your unit, including walls, floors, and ceilings, as well as any improvements or renovations you’ve made — like upgraded fixtures or custom cabinetry.
Liability Insurance for Condo Owners
Liability protection helps cover medical bills and legal fees if someone becomes injured on your property in the event you’re found liable.
Loss of Use Coverage (Temporary Living Expenses)
Loss of use and additional living expenses coverage reimburses you for extra costs if you have to live elsewhere temporarily due to a covered loss.
Special Coverages: Flood, Hurricane, and Earthquake Protection
The common exclusions in an HO-6 policy include damage from floods, hurricanes, earthquakes, wear and tear, and pest infestations. You can typically customize your HO-6 policy with additional coverage by purchasing riders. For example, you might want to buy additional coverage on your condo insurance policy to protect in the event of a flood.
Coverage for Assessments (Loss Assessment Coverage)
Condo and co-op owners can also enjoy a specific type of coverage called loss assessment, which kicks in to cover any additional costs that may be requested should the condo association's own coverage fall short.
Any time a homeowners association's reserves fall short of what's needed for maintenance or repair costs, it will issue a "special assessment" payable at once or on a monthly basis, depending on the HOA. Loss assessment coverage helps condo owners cover those payments.
| HO-6 Condo insurance coverage | |
| Dwelling (structure) | Master policy* |
| Personal liability | Yes |
| Personal belongings | Yes |
| Loss of use (additional living expenses) | Yes |
| Loss assessment | Yes |
| Cyber liability | Depends on carrier** |
| Special jewelry/high-end electronics | Limited** |
| Flood | No*** |
| Earthquake | No** |
| Water damage | Yes |
*Consult condo association master policy and by-laws
**Available as add-on coverage if not part of policy
***Required if you are in a flood zone, but most homeowners experience some flood
How Much Does Condo Insurance Cost?
Condo insurance is generally one of the cheaper homeowners insurance policies because it doesn't cover exteriors like an HO-3 policy.
The average cost of condo insurance is $531 annually, according to the most recent data from the National Association of Insurance Commissioners. In comparison, the average HO-3 policy costs $1,411.
However, your policy premium will vary according to a number of factors, like your location and even your own financial profile, namely your credit score.
Average HO-6 Insurance Cost by State
Here's the average annual HO-6 insurance premium by state, according to 2021 data from the National Association of Insurance Commissioners (NAIC).
| State | Average Annual Premium |
| Alabama | $629 |
| Alaska | $435 |
| Arizona | $448 |
| Arkansas | $600 |
| California | $626 |
| Colorado | $484 |
| Connecticut | $411 |
| Delaware | $482 |
| District of Columbia | $370 |
| Florida | $1,049 |
| Georgia | $577 |
| Hawaii | $383 |
| Idaho | $465 |
| Illinois | $416 |
| Indiana | $366 |
| Iowa | $295 |
| Kansas | $392 |
| Kentucky | $405 |
| Louisiana | $818 |
| Maine | $389 |
| Maryland | $327 |
| Massachusetts | $442 |
| Michigan | $372 |
| Minnesota | $355 |
| Mississippi | $661 |
| Missouri | $406 |
| Montana | $508 |
| Nebraska | $378 |
| Nevada | $469 |
| New Hampshire | $374 |
| New Jersey | $446 |
| New Mexico | $448 |
| New York | $490 |
| North Carolina | $511 |
| North Dakota | $293 |
| Ohio | $327 |
| Oklahoma | $668 |
| Oregon | $384 |
| Pennsylvania | $398 |
| Rhode Island | $561 |
| South Carolina | $520 |
| South Dakota | $320 |
| Tennessee | $500 |
| Texas | $856 |
| Utah | $289 |
| Vermont | $359 |
| Virginia | $381 |
| Washington | $413 |
| West Virginia | $345 |
| Wisconsin | $276 |
| Wyoming | $491 |
Source: NAIC
Factors That Affect Condo Insurance Rates
The cost of your condo insurance will vary depending on factors like where you live, the age of your unit, the coverage you choose, and your claims history.
For example, condos located in disaster-prone areas — flood zones, hurricanes, tornadoes, wildfires, mudslides, hail, and earthquakes — will have increased premiums because these types of events are not included in basic coverage and will need to be covered by add-on homeowners insurance riders.
How to Lower Your Condo Insurance Premium
The best way to save on your HO-6 insurance is by taking the time to shop around and get quotes from at least three insurance companies.
It’s also worth asking insurance agents about discounts that are available to you since some may offer discounts to specific demographics like retirees. And if you plan on buying multiple insurance policies from the same provider, check if they offer multi-policy discounts.
Note that the cheapest price is probably not the way to go if that means a company isn't responsive when you file a claim. Focus on customer service, complaints, and the insurance provider's reputation.
| Insurance range | Average HO6 insurance annual premium |
| $13,999 and under | $395 |
| $14,000 to $19,999 | $397 |
| $20,000 to $25,999 | $402 |
| $26,000 to $31,999 | $427 |
| $32,000 to $37,999 | $452 |
| $38,000 to $43,999 | $448 |
| $44,000 to $49,999 | $457 |
| $50,000 to $74,999 | $517 |
| $75,000 to $99,999 | $571 |
| $100,000 and over | $857 |
Source: NAIC
Best Condo Insurance Companies in 2025
Here are some of the best condo insurance companies, including insurers that provide comprehensive condo coverage, affordable condo insurance, and insurance for high-value condos.
- Amica homeowners insruance: Best for condo insurance customer satisfaction. Amica offers policies in 48 states (not including Alaska or Hawaii) and has consistently ranked high on the JD Power home insurance customer satisfaction index.
- GEICO homeowners insurance: Best for affordable condo insurance. GEICO is available in all 50 states and has plenty of discount options, such as insurance bundling and home safety.
- Allstate homeowners insurance: Best for high-value condo insurance. Allstate offers many endorsement options you can add for additional coverage, as well as a long list of discount opportunities.
- State Farm homeowners insurance: Best for comprehensive condo insurance. State Farm offers competitive rates and a wide range of coverage options to meet your needs.
- USAA homeowners insurance: Best condo insurance for members of the military and their families. USAA standard condo insurance policies include paying to replace your belongings at current prices.
Condo Insurance vs. HOA Master Policy
What Does Your HOA’s Master Policy Cover?
Always review your association’s master policy before buying an HO-6 policy since the coverage you need will depend on what the master policy does and doesn’t cover. If your condo association has a “bare walls” master policy, you may need to choose higher coverage limits.
And though an “all-in” master policy typically provides more protection for the interior of your unit, you’ll still want to double-check to see what’s already included before buying an HO6 condo insurance policy.
Gaps in HOA Coverage That Require Additional Insurance
It’s important to understand exactly what your HOA master policy covers so that you can make sure your condo insurance policy fills in any gaps. You don’t want to risk being underinsured in the event of damages or a loss.
The common types of HOA master policies include “bare walls,” “single entity,” and “all-in.” Determining the type of HOA master policy you have will help you decide how much coverage you need to buy.
Understanding Bare Walls vs. All-In HOA Policies
An "all-in" master policy "protects external structures, common areas, liability, fixture repairs, replacements and even upgrades made by individual owners," per Hippo Homeowners Insurance.
A "bare walls" master policy covers "only external structures and common areas."
And “single entity” coverage goes beyond bare walls "by shielding condo owners from liability to replace or repair original fixtures inside each unit," according to Hippo.
| Master Policy Dwelling Coverage | Bare Walls | Single Entity | All-in |
| External Structure | Yes | Yes | Yes |
| Common Areas | Yes | Yes | Yes |
| Internal Fixtures | No | Yes | Yes |
| Repairs and upgrades | No | No | Yes |
Source: Hippo Insurance
How to Choose the Best Condo Insurance Policy
Here’s what you can do to choose the right HO-6 policy for you:
- Assess your condo’s coverage needs: To figure out how much condo insurance coverage you need, start by taking stock of what you own and what it’s worth. You’ll also want to talk with a licensed insurance agent to get coverage suggestions for your situation.
- Understand the master policy’s coverage gaps: Next, review the condo association's master policy to see what’s covered and what isn't. This will help you determine the additional coverage you need to fill those gaps.
- Compare HO-6 policies and providers: Always shop around and get quotes from at least three different insurance providers to find the best price for the coverage you want. Besides pricing, consider other factors like coverage limits, deductibles, and the company’s customer service ratings.
Comparing Deductibles & Coverage Limits
A deductible in condo insurance refers to the amount you must pay before your policy kicks in to cover a claim. Even though a higher deductible can lower your premium, make sure it’s an amount you’re comfortable paying if you ever need to make a claim.
You’ll also want to pay attention to the policy limit, which is the maximum amount your insurance will pay for covered losses. You can find your coverage limit stated in your condo insurance policy.
Additional Riders & Endorsements to Consider
Riders or endorsements add coverage for things that your condo insurance policy may not cover. Common items condo owners purchase riders or endorsements for include jewelry, fine art, identity theft, and water backup. Keep in mind that adding riders or endorsements to your condo insurance policy will increase your premium.
How to Bundle Condo Insurance with Other Policies
Insurance bundling is when you purchase multiple policies from one insurer. Many insurance providers offer multi-policy discounts that can save you as much as 20%. Common types of insurance bundles include home insurance and auto insurance, motorcycle insurance and auto insurance, and life insurance and auto insurance.
You can contact your current insurance provider to ask about bundling options or reach out to other companies to compare quotes.
How to Get a Condo Insurance Quote
Many experts recommend getting quotes from at least three different home insurance providers to find the best deal. When you compare condo insurance quotes, you’ll also want to compare coverage limits and exclusions, and ask about any discounts you may qualify for.
Steps to Compare HO-6 Insurance Quotes
Here’s an example of steps you can take to compare HO-6 insurance quotes:
- Contact insurance companies directly, use an online marketplace, or use an insurance broker to request quotes for multiple insurers.
- Provide information about yourself and the property you want to purchase insurance for. Be sure to provide the same information to every insurer so you can get the most accurate quotes to compare.
- Compare quotes from at least three insurers. You want to do a side-by-side comparison of at least three insurers to make sure you’re getting the best value for your money.
- Ask about discounts that the insurance provider offers. For instance, you may be able to bundle your condo and auto insurance to receive a multi-policy discount.
- Decide on the policy that fits your needs and your budget.
- Contact the insurance provider that has the policy you’d like to buy, purchase your policy, and begin paying your premium.
What Information You Need to Provide for an Accurate Quote
When you request a condo insurance quote, you’ll likely need to provide the following information:
- Basic personal information, such as your full name, SSN, and how you can be contacted
- The address of the property
- The size of the property (square footage)
- The age and conditions of the property
- Any safety or security features the property has
- How much coverage you’re looking to purchase
- Number of units in the complex
- Number of people living in the complex
Online Quote Tools vs. Insurance Brokers for Condo Insurance
You can compare insurance quotes on your own by working directly with insurers or by using a website such as Insurify or Policygenius that will gather quotes from multiple providers for you. Online tools can help save you time by getting you multiple quotes in a matter of minutes.
However, if you prefer a more personalized experience, you may consider using an insurance broker. An insurance broker is an expert in the insurance market who will request condo insurance quotes on your behalf and help you decide which policy will best fit your needs.
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FAQs
What is HO-6 condo insurance?
HO-6 condo insurance is a specific type of insurance policy designed for condo owners and covers personal property, liability, and interior unit damage.
How much does condo insurance cost?
Annual HO-6 condo insurance premiums cost $531, on average. Prices may vary based on location, coverage, and deductible.
Does condo insurance cover the building's exterior?
No, HO-6 condo insurance typically only includes the interior, personal property, and liability. Your HOA's master policy should cover the exterior.
What is the difference between an HO-6 and an HOA master policy?
The difference between an HO-6 policy and a HOA master policy is that the condo association's master policy covers the building's exterior and common areas, while an HO-6 policy covers your unit.
Can I bundle condo insurance with auto insurance?
Yes, many insurance providers will also offer you a discount to bundle your condo and auto insurance.
