Condo insurance (HO6 insurance) is the policy that covers your unit’s interior from the walls in, your personal property, and more. Unlike single-family homeowners who must insure their home’s entire structure, you’re only responsible for insuring the interior. Your condo association’s master insurance policy covers your condo unit’s exterior and common areas.
That’s why you’ll sometimes hear condo insurance referred to as “walls in” or “paint-in” coverage. It’s designed to complement the master policy’s coverage.
So while the master policy primarily covers the condominium’s structure – including the exterior, roofing, framing, wiring, piping, insulation, and the drywall – your condo policy covers your unit’s:
It also offers essential protection beyond your unit’s interior.
A standard condo insurance policy – no frills – covers:
Kin condo insurance covers all perils for the dwelling except for those explicitly excluded in the policy. In other words, we cover a lot of incidents, including fire, theft, vandalism, storms, hurricane wind, and more.
Our standard policies don’t cover:
Just like a homeowners insurance policy, you can easily add coverage to your condo insurance. These endorsements are usually pretty popular:
Aside from the types of damage a standard condo insurance policy doesn’t cover (earthquakes, floods, demolition, etc.), condo insurance doesn’t cover:
What Condo Insurance Covers
What Condo Insurance Doesn’t Cover
Unit’s interior from the walls in
|Perils||All of them except for those explicitly excluded||Earthquakes
Demolition to bring the home up to code
Seizure or demolition by the government
|People||Condo unit owners||Condo building owners|
Single-family detached homes
Your condo association’s bylaws outline how insurance responsibilities are divided, and it impacts how much coverage you may need for your dwelling. Let’s take a look.
Your HOA fees help pay for a master insurance policy that covers your building’s exterior. It essentially splits the dwelling insurance burden with you, which is why your dwelling limits are much lower than what you paid for your unit.
There are three types of condo master insurance policies:
The best way to see how much condo insurance costs is to get a quote from us. Your costs will vary based on your location, your condo’s safety features, the construction of the building, and more. Condo insurance costs start as low as $400 a year in Florida.
You might save even more on your condo coverage through our discounts. We offer premium credits for:
Because your policy primarily has to cover the things inside your condo, it’s important to choose your personal property limits wisely. Consider this a general guide for choosing the appropriate limits.
Choosing Your Condo Coverage Limits
Type of Coverage
|Dwelling||Up to the replacement cost of the interior (we calculate this for you)|
|Personal property||20% to 50% of the coverage you have for your dwelling|
|Loss of use||20% of the coverage you have for your dwelling|
Is Kin’s Condo Insurance Right for You?
If you own a condo, you need condo insurance. It’s the only policy that is designed to work with your condo association’s master insurance policy.
For Kin in particular, we can offer you condo coverage if:
Unlike homeowners insurance, which must cover the entire structure of the home inside and out, condo insurance only needs to cover the interior of the home because it has help from the HOA’s master policy.
That usually means condo insurance is much less expensive than homeowners insurance.
Condo insurance and homeowners insurance also differ on personal liability. As a condo owner, your personal liability exposure may be much less than a homeowner who has to worry about visitor injuries anywhere on their property: their driveway, backyard, porch, etc. A guest injury that happens in your condominium’s shared areas may end up being the HOA’s responsibility.
We’re excited to make getting condo insurance quotes easy. Just type in your address for a condo quote in seconds.
In some cases, we might need two documents to quote your home:
Let’s save you some money on your condo insurance. Get a quote online today.