Question 1

What is HO-6 condo insurance?

Accepted Answer

HO-6 (also called condo insurance, walls-in insurance, or unit-owners insurance) is the standard policy type for condo and co-op owners. It pairs with your association's master policy: the master policy covers the building exterior, common areas, and roof; HO-6 covers your unit's interior, personal property, and liability. The exact split between master and HO-6 depends on the master policy's coverage type — bare walls (master covers least), walls-in / studs-out (median), or all-in / single-entity (master covers most).

Question 2

How much does condo insurance cost in 2026?

Accepted Answer

National average $455–$656/year ($38–$55/month) for a typical policy with $50,000–$60,000 personal property coverage, $300,000 liability, and a $1,000 deductible. State variation is wide: cheapest states under $300/year, most expensive states above $1,000/year. Florida (hurricane risk) and Louisiana (hurricane + wind) are typically highest. Inland low-disaster states (Vermont, Wisconsin, Idaho) are typically lowest.

Question 3

What is the difference between bare-walls, walls-in, and all-in master policies?

Accepted Answer

Bare-walls: master policy covers building structure only — you cover everything inside the drywall (paint, flooring, fixtures, cabinets, appliances). Walls-in / studs-out: master covers structure + drywall + studs — you cover everything inside the drywall surface. All-in / single-entity: master covers structure + interior fixtures + original-installed appliances and cabinets — you cover personal property + upgrades + improvements. Read your association's master policy declaration page (typically included in your closing packet) to identify which type you have.

Question 4

How do I find my condo association's master policy type?

Accepted Answer

Three sources: (1) your closing documents — the master policy declarations were typically included; (2) your HOA management company — request a 'Certificate of Insurance' or master policy summary; (3) your HOA bylaws — Article on insurance often specifies the policy type. The HOA is required to share this information with unit owners. Some HOAs include the master policy summary in their annual budget packet. Don't guess — buying too little HO-6 leaves you exposed; buying too much wastes premium.

Question 5

Does my mortgage lender require condo insurance?

Accepted Answer

Yes, almost always. Mortgage lenders require HO-6 to protect their collateral interest in the unit. The minimum coverage required is usually 20% of the unit's appraised value — sometimes called "dwelling coverage" or "Coverage A." Lenders also typically require minimum $100K liability and proof of continuous coverage. If you let coverage lapse, the lender will force-place insurance at higher rates and bill you. Always send the new HO-6 declaration page to your lender immediately after binding.

Question 6

What is loss assessment coverage and why does it matter for condos?

Accepted Answer

Loss assessment coverage pays your share of a special assessment levied by the HOA when the master policy's coverage is exceeded by a loss. Example: a hurricane causes $5M in building damage; the master policy pays $4M; the HOA assesses each of 100 unit owners $10,000 to cover the gap. Loss assessment coverage on your HO-6 pays that $10,000 (typically up to a $1,000–$50,000 limit). After Surfside (2021) and Maui (2023), most condo experts recommend at least $50,000 in loss assessment coverage. Cost: typically $25–$100/year extra.

Question 7

Should I increase my HO-6 deductible to save money?

Accepted Answer

Possibly. Going from $500 → $1,000 deductible typically saves 10–20%. Going from $1,000 → $2,500 saves another 5–15%. The math: on a $50/month policy, raising the deductible $1,500 to save $10/month = breakeven at 12.5 months. If you're claim-free for 13+ months, the higher deductible wins. The exception: hurricane states like Florida have separate hurricane deductibles (2%–5% of dwelling) that often override your standard deductible — read the policy carefully.

Condo Insurance HO-6 (May 2026)

Read the master policy first

Quick Answer

3 Master Policy Types Decoded

Bare Walls

Walls-In / Studs-Out

All-In / Single-Entity

What HO-6 Actually Covers

Covered (standard HO-6)

NOT Covered (need separate policy)

How much HO-6 do you actually need?

Get an Allstate HO-6 Quote

Frequently Asked Questions