Condo insurance made for you

Condo insurance, or H06 insurance, is the policy that covers your unit’s interior from the walls in, which includes your personal property. (For that reason, it’s sometimes referred to as “walls-in” or “paint-in” coverage.) 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 unit’s exterior and the common areas.

• Other structures — your HOA’s master policy will cover shared structures like fences

• The entire building — the master policy is responsible for the building’s exterior

• Certain perils — like earthquakes, floods, demolition to bring the home up to code, and seizure or demolition by the government

• Condo building owners

• Certain structures — like single-family detached homes and mobile homes 

Homeowners insurance must cover the entire structure of the home inside and out. On the other hand, because condo insurance has help from the HOA’s master policy, it only needs to cover the interior of the home. That usually means that condo insurance is much less expensive than homeowners insurance. 

Homeowners and condo insurance policies also differ on personal liability. Condo owners have much less personal liability exposure than a homeowner, who has to worry about visitor injuries anywhere on their property (like the driveway, the backyard, or the porch). If a guest is injured in a condominium’s shared areas, it may end up being the HOA’s responsibility. 

Your HOA fees help pay for a master insurance policy that covers your building’s exterior. There are three types of condo master insurance policies:

• Bare Walls Coverage — This is the most 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, plus built-in fixtures in individual units

• All-in Coverage — This is the policy with the most protection. It covers the structure, common areas, and built-in fixtures, plus individual unit additions and improvements. 

If you own a condo, then the answer is a resounding YES. This is the only kind of policy designed to work with your condo association’s master insurance policy. At Kin, we can offer you condo coverage if: 

• You own a townhouse, rowhouse, or unit in a high rise

• Your condo is your primary residence, seasonal residence, or if you rent it on home-share sites like Airbnb

• The condo is owned by an LLC or trust 

Kin offers condo insurance in Florida.