Condo Insurance Quotes

Get a fast, free quote today to find out how much you could save by switching to Farmers® or bundling policies.

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What is condo insurance?

Condo insurance is a lot like homeowners insurance — it’s there to help you protect the things that make your home a home, in case of damage or theft. In the industry, it’s known as an HO-6 policy, and it goes beyond an HOA’s insurance coverage. When you live in a condominium, co-op or townhome, the roof, exterior walls and grounds belong to your HOA or co-op. Your own policy covers what’s inside — your walls, ceilings and floors, cabinets and furniture, clothing and cookware — plus accidental injuries to others.

Ways to save on condo insurance

EARN DISCOUNTS if you:

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Pay on time

Install central burglar
and fire alarms

Go paperless

BUNDLE your condo policy with:

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Car

Umbrella

Life

Condo insurance coverages

A Farmers condo policy typically includes:

  • Personal property coverage to help pay costs if your furniture, clothing and other belongings are stolen, damaged or destroyed.

  • Personal liability protection to help pay legal, medical and other expenses if you’re responsible for damage or injuries to someone else.

  • Loss of use coverage to help pay extra rent and other costs if you have to live elsewhere during repairs.
  • Unit owner’s building coverage to help with damage to your condo’s interior — walls, cabinets, lighting — if it’s not covered by your HOA’s policy.

  • Association loss assessment coverage to help if your HOA assesses you for a share of a major building expense, like a new roof.
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What does condo insurance cover?

Your belongings

Example: A burglar breaks in and steals your TV, video game box and golf clubs.

How it works: Personal property coverage can help you replace your stolen property, even if the theft happens away from home.

Your living space

Example: A kitchen fire burns your cabinets, and water used to douse the flames damages the floor.

How it works: Your unit owner’s building coverage can help with the cost of replacing your cabinets and repairing the floor.

Damage to someone 
else’s property

Example: Your kid accidentally throws a baseball through your neighbor’s window.

How it works: Liability coverage can help with the cost of replacing the window.

Injuries to others

Example: A dinner guest slips, hits their head and ends up in the emergency room.

How it works: Liability coverage can help with medical bills and legal costs if the accident is your fault and you’re sued.

Living expenses/
loss of use

Example: A leak in the condo upstairs leaves your condo uninhabitable.

How it works: Additional living expenses coverage can help you pay for a temporary living space, plus extra food and transportation expenses.

Loss assessment 
coverage

Example: Wind tears the roof off your condo complex. Your HOA assesses each unit owner $5,000 to cover the unexpected cost.

How it works: Your loss assessment coverage can help pay your share of the assessment.

What is not covered by condo insurance?

A condo owner’s insurance policy doesn’t cover damage to shared structural elements, such as exterior walls and roofs, as well as grounds and common areas. A typical HO-6 policy also does not cover certain risks, though a separate policy or extra coverage may be added. They include:

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Why do I need condo insurance?

Your condo association or HOA master insurance policy doesn’t cover personal liability costs or what’s inside your home. A Farmers condo policy can help pay for damage or loss if, say, a fire breaks out and ruins your interior space and belongings or if someone is hurt in your home and it’s your fault.

Commonly asked questions about condo insurance

Farmers makes it quick and easy to get a condo insurance quote. Be prepared by having this information ready.

grey box icon Personal details

  • Name and date of birth
  • Phone number
  • If you have a spouse and children living with you, their names and birth dates
  • Your recent insurance history, including past claims

grey box icon Information about your condo

  • Address
  • Age
  • Value
  • Square footage

grey box icon Information about your HOA’s master insurance policy

  • What it covers
  • What it doesn’t
  • What you want to cover

grey box icon What you want to cover

  • Inventory your belongings and add up their value
  • Total the financial assets you want to protect in a lawsuit, like your savings or investments

grey box icon What types of coverage you want

  • Replacement cost or actual cash value?
  • Do you need special added coverage for:

    • Flooding
    • Earthquakes
    • Valuable property like art and antiques

The average condo policy costs $531 a year, according to 2021 data (the most recent available) from the National Association of Insurance Commissioners. That’s for an HO-6 condo/co-op policy covering a list of named perils. But costs range widely by region, from a low of $276 in Wisconsin to $818 in Louisiana and $1,049 in Florida, according to the NAIC data. Costs also vary by the amounts and types of coverage you choose. A quick quote will tell you what your cost might be.

You can get a good sense of how much condo insurance you need by thinking through the value of what you want to cover:

  • Your living space. What would it cost to repair or replace your interior walls, floors and ceilings, kitchen cabinets, upgraded lighting?
  • Your possessions. It helps to make an inventory of your personal belongings — things like electronics, furniture, appliances, jewelry, art and other valuables — and their estimated value.
  • Financial assets you’d want to protect against a lawsuit.
  • High value items you might want additional coverage for.

An HO-6 policy is the most common form of home insurance for condo and co-op owners.  insurance policy. It covers your personal property, your liability and the structural parts of your unit not covered by your HOA’s policy, typically against 16 named perils. If you want your policy to cover all perils (with named exceptions), your agent can help. HO-6 is an insurance industry category for typical policies tailored to condo and co-op owners.

Condo insurance typically covers less and costs less than homeowners insurance. The main difference is coverage for the structure. Condos are for people who own living spaces in multi-unit buildings with an HOA that insures the roof, exterior walls and common areas. Condo owners insurance covers what the HOA’s policy doesn’t cover — everything inside your condo. Homeowners policies cover a home’s structure, inside and out. Both offer protection for your belongings and your personal liability.

Townhomes and townhouses typically are covered with a condo insurance policy if they are part of a condo association or HOA. A townhome that isn’t a part of an HOA can be covered by a homeowners or renters insurance policy.

No, as a renter you wouldn’t qualify for condo insurance, which is for condo owners, but you might want renters insurance.

Some homeowners associations require condominium owners to have condo insurance and may set minimum coverage levels. Even if your HOA doesn’t require it, condo insurance can help you protect against unexpected accidental losses. Think what might happen if a fire damaged your kitchen or your dog bit a neighbor — paying for repairs or for your neighbor’s medical bills (and possible lawsuit) would fall to you without condo insurance.

Co-op insurance is similar to condo insurance: it covers what’s inside your living space. But because co-ops and condos have different ownership structures, coverage terms and conditions in the HOA’s master insurance policy — which covers the exterior structure and shared areas – may vary. Condo and co-op owners should know what’s in their condo or co-op association agreement and their master policy when customizing insurance for their own unit. The agreement spells out what you actually own in your unit. For example, sometimes you have to insure the drywall in your unit, but other times, the association owns the drywall and you only have to cover the paint.

Related articles

How Much Condo Insurance Do I Need?

Think of condo insurance policy as a package of different types of coverage. As the owner, you select the amount of coverage for each type.

If I Love It, Should I List It? How Do I Take a Home Inventory?

An accurate and up-to-date home inventory can provide a helpful record of your belongings, and may save you a world of heartache during a difficult time.

Does Renters Insurance Cover Pet Damage?

The answer is no and yes. If your cat tears up your apartment’s wall-to-wall carpeting or your brand new couch, renters insurance typically does not cover the damage. But if your dog bites someone or gnaws the legs off your neighbor’s lawn furniture, your renters insurance might provide coverage.

What Does Condo Insurance Cover?

Condo insurance covers your personal property located inside the unit such as furniture, electronics and clothing. It can also cover installed items — like flooring, interior walls and fixtures — if they aren’t already covered by your building’s master insurance policy. Let’s say the pipe under your sink bursts and floods the kitchen. Everything from your tile and drywall to your stove and refrigerator can be covered.