Condo insurance protects the parts of your home that your HOA's master insurance policy doesn't cover, such as your unit's interior, appliances, fixtures, and belongings. It also covers your personal liability.
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.
Covered,The interior of your dwelling
This can help pay to repair or replace damaged ceilings, floors, additions, and more.
This is where your policy really shines! It protects your furniture, appliances, clothing, electronics, decor, furnishings, and more.
This part of your policy saves the day when a covered claim forces you to temporarily relocate. It can help pay for dining out, hotel stays, and more.
If you’re sued over an injury that happened in your unit, this part of your policy can cover legal expenses.
If a guest has a small injury in your unit, this can help cover their immediate medical expenses.
All perils except for those explicitly excluded.
Condo unit owners
Townhouses, Rowhouses, Highrises
Not Covered,Other Structures
Your HOA’s master policy will cover shared structures like fences
Not Covered,The entire building
Again, the master policy is responsible for the building’s exterior
Not Covered,Certain perils
Earthquakes, Floods, Demolition to bring the home up to code, Seizure or demolition by the government
Not Covered,Condo building owners
Not Covered,Certain Structures
Single-family detached homes and mobile homes
Just like a homeowners insurance policy, you can easily add coverage to your condo insurance. These endorsements are usually pretty popular:
Additional Loss Assessment coverage - While our condo policies automatically include $2,000 in loss assessment coverage, folks like to have a little extra. This helps pay for your portion of a shared loss – called a special assessment – that exceeds the condo association’s emergency funds.
Flood Insurance - We’re one of the few insurance companies that offers private flood insurance as an endorsement, which means you don’t have to manage a separate policy, premium, or deductible to protect your home from flood damage.
Animal Liability Insurance - This extends your personal liability coverage to cover damage your fluffy friends may cause. So if your dear bumbling Pomeranian accidentally trips your neighbor, this can help pay for their injury.
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:
Bare Walls Coverage - This is a bare bones master policy. It only covers the building (its exterior, roofing, framing, wiring, insulation, and drywall) and common areas.
Single Entity Coverage - This covers everything a bare walls policy does, but it also covers built-in fixtures in individual units.
All-in Coverage - Of the three policies, this one offers the most protection. It covers the structure, common areas, built-in fixtures, plus individual unit additions and improvements.
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.
Condo Insurance Discounts
You might save even more on your condo coverage through our discounts. We offer premium credits for:
for as little as
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.
|Type of Coverage||Standard Limits|
|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|
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:
You own a townhouse, rowhouse, or unit in a high rise.
Your condo is used as your primary residence, seasonal residence, or you rent it on home-share sites like Airbnb.
The condo is owned by an LLC or trust.
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. Let’s save you some money on your condo insurance. Get a quote online today.
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