Condo Insurance Quotes: what it covers and what it costs

How condo insurance works

1. Read the master policy first. Whether the association covers units to bare walls or to original finishes decides the dwelling coverage an HO-6 quote should carry. The association's declarations page answers it.
2. Cover contents and loss assessment. Belongings are priced like renters cover; loss-assessment coverage handles your share of an association deductible after a building loss, and is priced per quote.
3. Compare quotes through a licensed agent. HO-6 premiums vary with the building, the state and the master policy's deductible. A licensed local agent quotes several carriers; the NAIC state averages here show what typical looks like.

What it covers, and what it does not

An HO-6 typically covers interior build-out, contents, liability and living costs after a covered loss. Flood and earthquake are separate policies almost everywhere, and an association's own deductible can pass through to owners as an assessment. The policy documents control; nothing here is advice or a quote.

Common questions

How much is condo insurance?

The NAIC's countrywide HO-6 average is on this page and each state's published average is in the tables. Unit premiums track the building, the master policy and the coverage amount.

Is condo insurance required?

Most associations and every mortgage lender require it; the association's documents state the minimum a unit owner must carry.

What is loss assessment coverage?

When a building-level loss exceeds the master policy or its deductible, associations can assess owners for the difference; loss-assessment cover pays your share up to its limit.

Rates data by state