Last modified: 2/20/2025

Condo insurance can provide coverage for your personal property, such as furniture, kitchenware, electronics and clothing. It can also provide coverage for installed items — like flooring, interior walls, carpeting and fixtures — if they aren’t already covered by your building’s master insurance policy.

What does condo insurance cover?

A Farmers^® condo policy typically includes these standard coverages.

Personal property coverage — for your belongings, if they’re damaged or stolen

Example: A space heater sparks a fire in your living room, burning your couch and media console, including your TV.

How it works:
Your personal property coverage can help cover losses related to damage in one of two ways.

• If you select replacement cost coverage, your policy pays the cost of buying new items to replace the ones damaged in the fire.for unexpected, high building costs.
  
  
• If you choose actual cash value coverage, your policy pays the depreciated price based on the age of your belongings.

Personal liability protection — for injuries to others or damage to their property

Example: A guest trips over a toy and tumbles down the stairs, breaking their arm and their phone.

How it works:
Personal liability coverage can help with medical bills and legal costs if the incident is your fault and you’re sued. It also can help cover the cost of replacing or repairing the phone. 

Loss of use coverage — in case you have to move out for repairs

Example: A leak from the condo above yours damages your kitchen, leaving your unit uninhabitable.

How it works:
Loss of use coverage can help you pay to live elsewhere temporarily, including added rent and food costs. 

Unit owner’s building coverage — for your living space

Example: A kitchen fire damages your flooring, walls and cabinets.

How it works:
Your condo association’s master policy might cover flooring, drywall and cabinets. Unit owners building coverage could help with the cost of repairing interior features not covered by your HOA.

Association loss assessment coverage — for unexpected, high building costs

Example: A tornado damages the roof and exterior walls of your condo complex. Damage is $500,000, but your HOA’s insurance has a $450,000 limit and a $20,000 deductible. Your association assesses each unit owner $5,000 to pay for the repairs not covered by its policy.

How it works:
Loss assessment coverage can help pay your share of the assessment. Your standard condo policy might include a limited amount of coverage, but extra coverage may be available. 

Condo insurance generally covers damage caused by these perils:

• Windstorms
• Hail
• Fire and smoke
• Lightning strikes 
• Theft 
• Vandalism and malicious mischief 
• Some types of water damage 
• The weight of ice, snow and sleet
• An aircraft, car or other vehicle
• Explosions
• Falling objects 

What does condo insurance generally NOT cover?

A condo owner’s insurance policy doesn’t cover damage to shared structural elements, such as exterior walls, roofs, grounds and common areas because they’re typically covered by the condo association or HOA master insurance policy. Also:

• High value items, like heirlooms, jewelry or artwork, may not be covered to their full value, but a personal articles floater can be added. 

• Liability costs above your coverage limit (but you can raise your limit by adding umbrella insurance).

A typical condo policy also does not cover certain risks, though for some, a separate policy or extra coverage may be added, including:

• Earthquakes
• Flooding
• Water backup and sump overflow
• Pests like termites and mice
• Wear and tear

How is this different from a condo association’s coverage?

Your condo association’s master insurance policy typically covers what the association owns, while your policy covers what you own, according to the Insurance Information Institute.

However, the details in condo master policies can vary. When you buy condo insurance, it’s important to know what’s covered under your HOA’s master policy and what’s not. Some might cover flooring; others might not. Some master policies cover the drywall in your unit — but not the paint. Some cover your fixtures, and some don’t. If you upgrade built-in features like floors, counters and bathrooms, check to see if your HOA master policy covers the upgrade; if not, your condo insurance can if you have unit owners building coverage.

Beyond your coverage

Timely maintenance of your condo can help you avoid damage that leads to insurance claims, as well as the headaches that come with dealing with that damage. These simple steps can help.

Water damage

(Not all kinds are covered)

Steps you can take:

• Maintain hoses and connections to your washing machine, dishwasher and other appliances that use water.

• Replace aging fittings on fixtures like toilet and sinks.  

• Check under sinks for small stains indicating new leaks.

• Install a water line leak detector to turn your water off automatically before a leak gets out of hand.  

• Consider adding a flood insurance policy if you live in a high-risk flood zone. The National Flood Insurance Program (NFIP), part of FEMA, underwrites most flood insurance in the U.S. and collaborates with private insurers, including Farmers®, through its Write Your Own (WYO) Program.

Fire safety

Steps you can take:

• Make sure smoke alarms are working. 

• Put fire extinguishers on every level and check regularly that they haven’t expired.  

• Keep flammable items away from the stove and be careful about leaving the kitchen when cooking. 

• Don’t overload electrical outlets or use anything with a damaged cord.  

• Think about getting a fire inspection to spot possible problems.    

General safety

Steps you can take:

• Keep walking areas clear. 

• Make sure throw rugs have a non-slip backing.  

• Keep stairs free of clutter and install handrails. 

• Upgrade lighting.  

• Anchor large furniture like bookcases to the wall. 

Theft and burglary

Steps you can take:

• Install a home security system. 

• Keep doors and windows locked.  

• Put your valuables out of sight. 

• Lock up your bike when you park it away from home.  

• Don’t leave anything in your car.