Condo Insurance — Protecting What the Association Does Not Cover
Owning a condominium comes with a unique insurance situation. Your condo association carries a master policy that covers the building’s exterior and common areas, but that policy typically does not protect the interior of your individual unit, your personal belongings, or your personal liability. A condo insurance policy — also called an HO-6 policy — fills that gap and is essential for any condo owner.
How Condo Insurance Works
The key is understanding where the association’s coverage ends and yours begins. Most master policies cover the structure “from the studs out” — meaning the bare walls, floors, and ceilings. Everything inside your unit, including flooring, cabinetry, appliances, light fixtures, and all of your personal belongings, is your responsibility to insure. Some associations carry “all-in” master policies that cover interior fixtures, but you should never assume this without reviewing the association’s governing documents.
What Condo Insurance Covers
- Unit interior (dwelling coverage) — Walls, flooring, cabinetry, fixtures, and improvements you have made to the interior of your unit
- Personal property — Furniture, electronics, clothing, and belongings covered against fire, theft, vandalism, and other named perils
- Personal liability — Protects you if someone is injured inside your unit or if you accidentally damage another unit (a common scenario with plumbing leaks)
- Loss assessment coverage — If the association levies a special assessment to cover a loss in the common areas that exceeds the master policy limit, your condo policy can help cover your share
- Additional living expenses — Temporary housing if your unit is uninhabitable after a covered loss
Who Needs Condo Insurance?
Every condo owner should carry an HO-6 policy. If you have a mortgage on your condo, your lender almost certainly requires it. Even if you own your unit outright, the liability exposure alone justifies the cost. Condo policies are generally quite affordable, and bundling with an auto policy through Erie can reduce both premiums. Contact Vallie Insurance to review your association’s master policy and make sure your individual coverage fills all the gaps.