Condo insurance — what you insure vs what your HOA insures, and which carrier to pick.

The short answer

For most condo owners, the practical shortlist:

• Nationwide — modal pick for condos. Broad availability, competitive pricing, simple online quoting.
• State Farm — strong if you already bundle (auto, life). Bundle discounts often beat Nationwide.
• Allstate — broad availability, often cheaper for smaller condos in major metros.
• USAA — if you qualify (military / veteran family), almost always the cheapest.
• Lemonade — for smaller condos in major metros, fast online quoting, lowest premium for clean records.

But the carrier choice matters less than getting the coverage structure right. Two things to verify:

1. Read your HOA's master policy first. It tells you whether you need "walls-in" coverage (master covers the structure including interior walls) or "bare-walls" coverage (master covers only the structure shell; you cover everything from the studs inward).
2. Match dwelling coverage to the gap. Walls-in master means you need a low dwelling limit ($25K-$75K typical). Bare-walls master means you need a high dwelling limit ($75K-$200K+) covering all the interior finishes.

Most condo owners don't read their master policy and either over-insure (paying for coverage the HOA already provides) or under-insure (leaving a gap on the interior). Get the master policy from your HOA management company before quoting.

What condo insurance actually covers

A standard HO-6 (condo) policy covers four things:

1. Dwelling (interior) — Coverage for the part of the unit you own. What "you own" depends on your state and your HOA's master policy. Could be "walls-in" (studs inward), "bare walls" (everything from the unfinished interior surface), or "all-in" (master covers up to the wall paint; you cover only your stuff).

2. Personal property — Your stuff inside the unit. Furniture, electronics, clothing, kitchen contents. Typical limit: $20K-$100K. Some carriers include scheduled property options for jewelry, art.

3. Liability — If someone gets hurt in your unit and sues you. Typical limit: $100K-$500K, sometimes $1M.

4. Loss-of-use — If your unit becomes uninhabitable (fire, water damage from upstairs), the policy pays for temporary housing while it's repaired.

You also get optional add-ons: loss assessment (when the HOA assesses owners after a catastrophe), water-backup coverage, scheduled personal property.

The HOA master policy — what to check

Your HOA has a master policy. Get it from your HOA's management company. Look for three things:

1. What does it cover? "All-in" (covers everything up to the paint on the wall), "walls-in" (covers structure including original interior finishes), or "bare walls" (only covers the unfinished shell). This determines how much dwelling coverage YOU need.

2. What's the deductible? Master policy deductibles are often $5K-$25K per unit, charged back to owners via "loss assessment." You should have loss-assessment coverage in your HO-6 — usually $1K-$10K is included free; you can buy more.

3. What's the master policy's named-peril vs all-risk structure? Older HOAs sometimes have named-peril master policies that exclude things like sewer backup or earthquake. If the master excludes a peril, you may want to cover it specifically on your HO-6.

If your HOA can't or won't share the master policy, that's a red flag. Push harder — it's your right as an owner.

What to do — in order

1. Get your HOA's master policy from the management company. Read it (or have your insurance agent read it).
2. Identify the gap — what does the master cover, and what falls to you? Write it down.
3. Inventory your stuff. Get a rough total of personal property value. Photograph or video your unit. This sets your personal-property limit.
4. Quote at least 3 carriers. Nationwide + State Farm + (USAA if eligible, else Allstate or Lemonade). Match the dwelling limit to your gap and the personal property limit to your inventory.
5. Add loss-assessment coverage if your HOA master deductible is meaningful. Many policies include a small amount free; raising the limit is typically inexpensive relative to the protection it adds.
6. Don't skip liability. $300K-$500K liability is cheap insurance. If a guest slips in your bathroom, you want the coverage.

Typical pricing

The Insurance Information Institute and NAIC publish national average HO-6 premiums and state-by-state breakdowns — those are the right places to check current benchmarks. The state range is very wide: rural inland Midwest is materially cheaper than coastal Florida, urban metro condos sit somewhere in the middle, and luxury / pre-war / HNW condos can run substantially higher.

Your actual quote varies by state regulations, building age, prior claims, dwelling limit, and personal-property limit. Quote at least 3 carriers; the variation across carriers for the same risk is usually meaningful.

Special cases

Coastal Florida condos. Master policies are increasingly excluding hurricane wind. You may need to add wind coverage to your HO-6 separately, or pair with a TWIA-equivalent state pool. Get a Florida-specialty broker.

Coastal California condos. Master policies sometimes exclude earthquake. Earthquake coverage is a separate product (California Earthquake Authority or private). Decide based on your building's seismic retrofit history.

Luxury / pre-war condos in NYC, SF, Boston. Master policies vary widely on older buildings. Original details (plasterwork, parquet, original windows) may need scheduled coverage. An HNW-focused broker is worth it.

Investment / rental condos. You need a different policy (DP-3 or rental dwelling) — standard HO-6 typically doesn't cover non-owner-occupied. Tell your agent if you're renting it out.

Adjacent reading

• Best home insurance for a luxury home — if you own a luxury condo or co-op
• Best home insurance Florida hurricane 2026 — for Florida condo owners