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Condo insurance

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What is condo insurance?

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:

  • Interior walls, ceiling, and floor coverings.
  • Improvements or upgrades.

It also offers essential protection beyond your unit’s interior.

What's Covered?

  • The interior of your dwelling

    This can help pay to repair or replace damaged ceilings, floors, additions, and more.

  • Your personal property

    This is where your policy really shines! It protects your furniture, appliances, clothing, electronics, decor, furnishings, and more.

  • Loss of use

    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.

  • Personal liability

    If you're sued over an injury that happened in your unit, this part of your condo insurance coverage can cover your expenses.

  • Medical payments

    If a guest has a small injury in your unit, this can help cover their immediate medical expenses.

  • Perils

    All perils except for those explicitly excluded.

  • People

    Condo unit owners

  • Structures

    Townhouses, rowhouses, highrises

Learn More About Perils

What’s Not?

  • 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

Available endorsements

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 the condo policies we offer 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.

  • 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.

What your condo association’s master insurance policy covers

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.

How much does condo insurance cost?

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 policy discounts

You might save even more on your condo coverage through available discounts. You may be eligible for premium credits for:

  • Strong wind mitigation features.
  • Fire protective devices.
  • Mature condo owners.
  • Signing up for an electronic policy.
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Condo insurance
for as little as

$400

per year

How much condo insurance do I need?

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.

Choosing your condo coverage 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
Personal Liability $100,000
Medical Payments $1,000

Is condo insurance right for you?

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.

Condo insurance vs. homeowners insurance?

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.

Condo insurance coverage with Kin

Searching “condo insurance near me” so that you can find the right policy?

Our company’s condo insurance services are some of the best in the industry. We use an innovative model to help condo owners with cutting-edge products that provide savings of up to $400.*

When you choose Kin, you work with an agent armed with condo insurance designed for the new normal. Our representatives go the extra mile to make sure every customer gets the coverage they need at an affordable premium. We’re committed to providing exceptional service, an easy claims process, and quality condo insurance in just a few clicks.

How to get condo insurance

We’re excited to make getting your condo insurance quote easy. Just type in your address for a personalized HO6 quote in seconds. Let’s save you some money on your condo insurance. Get a quote online or call today.

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*Customers who switched to Kin for their condo insurance report annual savings of $411 on average. Based on Kin Customer Savings Survey conducted October 2022 - October 2023.

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The opinions expressed belong solely to individual reviewers and do not reflect the opinions of the Kin Insurance, Inc. group of companies or affiliates. Reviews are provided for informational purposes only.

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