Condo Insurance
Condo Insurance, Made Clear
Condo insurance covers the part of your home that your building's shared insurance doesn't. The line between the two is where most condo owners get caught off guard. Here's how your own policy works and the piece people most often miss. (In the industry, a condo owner's policy is called an HO-6 — you may see that term on your declarations page.)
Written by Marc Berry
Founder and Insurance Distribution Executive
Reviewed for accuracy by Cameron Berry
Licensed Property & Casualty Agent · NPN 20621185
Last reviewed
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Your policy vs. your building's policy
Your condo association carries a master policy on the building, but what it covers varies.
Condo buildings buy different levels of shared coverage. The type your building has tells you exactly how much you need to cover on your own:
- "Bare walls" coverage covers the structure only up to the unfinished walls — leaving your flooring, cabinets, fixtures, and improvements to you.
- "All-in" coverage covers original fixtures and finishes, but typically not your upgrades or your belongings.
Knowing which type your association has tells you exactly how much your own condo policy needs to cover. Read the master policy or ask your association.
What your condo policy covers
- Interior building property — flooring, cabinets, built-ins, and improvements, depending on where the master policy stops.
- Personal property — your belongings.
- Loss of use — living costs if your unit is uninhabitable after a covered loss.
- Personal liability and medical payments to others.
- Special assessment coverage — if something major damages the building's common areas, the association can pass part of the repair bill to every owner. This coverage pays your share. It's the piece condo owners most often overlook. (The industry calls it loss assessment coverage.)
Where the gaps hide
- Assuming the master policy covers your belongings or your renovations — it usually doesn't.
- Carrying too little loss-assessment coverage for a large common-area claim.
How to think about it
Match your interior coverage to where the master policy leaves off, insure your belongings for what they're worth, and carry enough loss-assessment coverage for your building's risk. This is general education, not advice for your specific unit; Sage AI can walk through your scenario, and a licensed agent can confirm.
Other coverage
Reviewed for accuracy by Cameron Berry
Licensed Property & Casualty Agent · NPN 20621185
Last reviewed