Condo Insurance Calculator
Estimate your HO-6 condo insurance premium based on your unit value, HOA master policy type, personal property, liability coverage, and optional endorsements. Get a detailed coverage breakdown, see what your HOA master policy likely covers vs. the gaps only your own policy fills — free, private, no signup required.
| Coverage Area | HOA Master Policy | Your HO-6 Fills |
|---|
| Feature | HO-6 (Condo) | HO-3 (Homeowners) | HO-4 (Renters) |
|---|---|---|---|
| Structure / Dwelling | Interior walls, floors, ceilings only | Full structure, roof, exterior | None |
| Personal Property | Covered | Covered | Covered |
| Liability | Covered | Covered | Covered |
| Loss Assessment | Available as add-on | Not applicable | Not applicable |
| HOA Master Policy | Complements it | Not applicable | Not applicable |
| Typical Annual Cost | $300–$1,000+ | $1,000–$3,000+ | $150–$400 |
What Is HO-6 Condo Insurance and Why You Need It
An HO-6 condo insurance policy is a specialized form of homeowners insurance designed specifically for condominium unit owners. Unlike an HO-3 homeowners policy that covers the entire structure, HO-6 covers only what the HOA's master policy leaves unprotected: your unit's interior, personal belongings, personal liability, and your share of shared-area losses. According to the Insurance Information Institute (iii.org), condo owners who rely solely on their HOA's master policy expose themselves to tens of thousands of dollars in uncovered losses.
The critical distinction is that your HOA's master policy covers the building's common areas, exterior walls, roof, and shared infrastructure — not your unit's interior. When a pipe bursts in the wall and damages your hardwood floors and kitchen cabinets, those repairs are your responsibility unless you hold an HO-6 policy. The National Association of Insurance Commissioners (naic.org) reports that the average HO-6 claim exceeds $14,000, underscoring the financial risk of going uninsured.
Understanding HOA Master Policy Types: Bare Walls, Modified All-In, and All-In
Your HOA's master policy type is the single most important variable in determining how much HO-6 coverage you need. There are three types, and the difference can mean tens of thousands of dollars in out-of-pocket exposure:
- Bare Walls-In: The most common and most limited type. The HOA covers only the bare structure — exterior walls, roof, common areas, and building systems up to the unfinished drywall. Everything inside your unit — flooring, cabinetry, fixtures, appliances, walls, ceilings — is your responsibility. You need the most HO-6 coverage with this policy type.
- Modified All-In (Single Entity): Covers original builder-standard fixtures and finishes inside your unit, but any upgrades you've made are excluded. If you installed granite countertops over the original laminate, the upgrade portion is your problem. This is the middle-ground scenario.
- All-In (Comprehensive): The most coverage-rich type. The HOA covers everything in the unit as originally built, plus any improvements recorded with the association. Your HO-6 still needs to cover personal property, liability, and loss assessment — but dwelling coverage can be minimal. Always verify what's documented with your HOA.
Request your HOA's master policy declaration page before buying HO-6 insurance. The policy type determines your optimal dwelling coverage amount. Many condo owners overpay by insuring dwelling losses already covered by an All-In master policy.
Coverage Gaps That Catch Condo Owners Off Guard
Even with a good HOA master policy, condo owners face recurring coverage gaps that the right HO-6 policy can close. These are the most expensive surprises reported to the iii.org:
- Loss Assessment: If a shared area sustains major damage (elevator failure, parking garage collapse, common-area lawsuit), your HOA may levy a special assessment on all unit owners — sometimes $5,000 to $50,000+. Loss assessment coverage on your HO-6 pays your share, up to your policy limit. The default $10,000 limit is often insufficient in large buildings.
- Water Damage from Neighbors: If water leaks from the unit above and damages your floors and ceiling, neither your neighbor's policy nor the HOA master policy may cover your loss. An HO-6 water damage endorsement closes this gap for as little as $100/year.
- Improvements and Betterments: Kitchen remodels, bathroom upgrades, and custom flooring you installed after purchase are typically excluded from HOA coverage. Your HO-6 needs an "improvements and betterments" rider matching the value of all upgrades you've made.
- Additional Living Expenses (ALE): If a covered loss makes your unit uninhabitable, ALE pays for temporary housing, meals, and living costs. Most HO-6 policies include ALE at 20–40% of dwelling coverage. Confirm your policy includes this.
- Liability for In-Unit Accidents: If a guest slips and falls in your unit, your HOA's master policy won't cover your liability — only your HO-6 does. The Insurance Information Institute recommends at least $300,000 in liability coverage for condo owners.
How to Save on Condo Insurance Without Sacrificing Coverage
Condo insurance is already one of the most affordable property insurance products — averaging $300–$700/year for most US condo owners according to naic.org data. These strategies keep costs low while maintaining adequate protection:
- Bundle with auto insurance: Multi-policy discounts typically reduce HO-6 premiums by 10–25%. Most major insurers (State Farm, Allstate, USAA) offer this.
- Raise your deductible: Moving from $500 to $1,000 typically reduces premiums by 8–15%. Moving to $2,500 saves 15–25%. Only choose a deductible you can afford to pay out of pocket.
- Install security and safety devices: Smoke detectors, deadbolt locks, and alarm systems can each reduce premiums by 2–10%. Fire sprinklers in newer buildings are a major discount driver.
- Review coverage annually: As your HOA upgrades the master policy or your personal property value changes, adjust your HO-6 accordingly. Over-insuring interior dwelling after a policy upgrade wastes premium dollars.
- Shop all three coverages separately: Use an independent broker to compare quotes from at least 3–5 insurers. HO-6 pricing varies dramatically by carrier for identical coverage.
Frequently Asked Questions
How much does condo insurance (HO-6) cost per year?
According to naic.org, the average HO-6 condo insurance policy costs between $300 and $700 per year for most US condo owners, though this varies significantly by location, coverage amounts, and insurer. High-risk coastal areas or high-value units can push premiums above $1,200/year. Conversely, inland condos with modest personal property and minimal improvements can be insured for as little as $250/year. The best way to find your actual cost is to get 3+ quotes from different insurers.
What does HO-6 condo insurance cover that my HOA policy does not?
Your HOA master policy covers the building's structure, exterior, common areas, and shared infrastructure — but typically not your unit's interior, your personal belongings, or your personal liability. An HO-6 policy fills these gaps: it covers your interior walls, floors, fixtures, and upgrades (under bare-walls or modified HOA policies); personal property like furniture and electronics; personal liability if someone is injured in your unit; loss assessments levied by your HOA after shared-area damage; and additional living expenses if your unit becomes uninhabitable. The Insurance Information Institute (iii.org) identifies loss assessment coverage as the most commonly overlooked and most financially impactful gap.
What is the difference between bare walls-in, modified all-in, and all-in HOA policies?
These three HOA master policy types determine how much of your unit the HOA insures. Bare walls-in (most common) covers only the unfinished structure — everything inside the drywall is your responsibility. Modified all-in (also called single entity) covers original builder-grade fixtures but not your upgrades. All-in (comprehensive) covers the unit as built, including installed fixtures and improvements documented with the HOA. Your HO-6 dwelling coverage amount should be inversely proportional to your HOA policy comprehensiveness — the more the HOA covers, the less dwelling coverage you need to buy.
What is loss assessment coverage and how much do I need?
Loss assessment coverage protects you when your HOA levies a special assessment on all unit owners after a major shared-area loss — for example, a lawsuit settlement, elevator failure, or major storm damage to common areas. If the HOA's master policy deductible or coverage limit is exceeded, the shortfall is divided among all unit owners. Without loss assessment coverage on your HO-6, you pay your share out of pocket. naic.org data shows assessments of $5,000 to $50,000 per unit are not unusual in large buildings or after major events. Most HO-6 policies default to $10,000 — consider $25,000–$50,000 for buildings with high-value shared amenities like pools, elevators, or underground parking.
Does condo insurance cover water damage from a neighbor above me?
Standard HO-6 policies cover sudden and accidental water damage originating from within your unit. However, water damage from a neighboring unit — such as a pipe burst in the unit above — falls into a gray area. Your neighbor's liability coverage may pay if their negligence caused it, but neighbor policies often deny coverage for gradual or maintenance-related leaks. A water backup/overflow endorsement on your own HO-6 policy ensures you're covered regardless of fault for as little as $80–$150 per year. This endorsement does not cover flood damage from external water sources, which requires a separate NFIP or private flood policy.
Do I need condo insurance if I pay off my mortgage?
Once your mortgage is paid off, no lender requires you to maintain HO-6 insurance. However, the financial need for the coverage remains identical. Without it, you're personally responsible for replacing all interior finishes and personal property after a fire, water damage, or theft event — often $50,000 to $200,000 in losses. You also carry unlimited personal liability exposure for accidents in your unit. The iii.org strongly recommends maintaining HO-6 coverage at all times, regardless of mortgage status, because the annual premium cost is small relative to the financial risk of a single major claim.