Your HOA has a master insurance policy. That's good news — the building is covered. But here's what most condo owners don't realize: the master policy probably doesn't cover everything inside your unit. Your cabinets, flooring, fixtures, appliances, personal belongings, and liability? Those gaps are yours to fill. That's what condo insurance (HO-6 policy) does.
Dwelling Coverage (Walls-In)
Covers interior elements of your unit that the master policy doesn't: interior walls, flooring, cabinets, built-in appliances, light fixtures, plumbing fixtures. What's included depends on your HOA's master policy type.
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Personal Property
Your belongings: furniture, electronics, clothing, kitchenware, decorations. Same as renters insurance but for condo owners.
Liability Protection
If someone is injured in your unit or you damage another unit (water leak into downstairs neighbor), liability coverage pays for legal defense and damages.
Loss Assessment Coverage
When the HOA faces a major claim exceeding master policy limits, they assess owners for the difference. Loss assessment coverage pays your share.
Additional Living Expenses
If your unit becomes uninhabitable, coverage pays temporary housing and living expenses.
Your condo insurance needs depend entirely on what your HOA's master policy covers. There are two main types:
Bare Walls Coverage (Walls-Out)
Master policy covers the building structure only — exterior walls, roof, common areas. Everything inside your unit is your responsibility: interior walls, flooring, cabinets, fixtures, appliances, plus belongings and liability.
All-In Coverage (All-Inclusive)
Master policy covers the building structure plus interior finishes as originally built — standard flooring, cabinets, fixtures, appliances. You cover improvements, upgrades, personal belongings, and liability.
Critical Step
Get a copy of your HOA's master policy. Review exactly where their coverage ends. Build your HO-6 policy to fill those specific gaps.
Regardless of master policy type, these are always your responsibility:
- •Personal belongings — furniture, electronics, clothing
- •Personal liability — injuries in your unit
- •Improvements and upgrades — that kitchen renovation you paid for
- •Loss assessments — your share of major HOA claims
- •Additional living expenses — temporary housing if displaced
Even "all-in" master policies have deductibles — often $10,000 or more. If a covered event damages your unit and the deductible applies to you, your condo insurance helps cover it.
Dwelling (Interior) Coverage
Depends on your master policy type. Bare walls coverage requires more — estimate costs to rebuild interior finishes from studs out. All-in coverage requires less — cover your upgrades and improvements.
Personal Property
Inventory belongings and estimate replacement costs. $30,000-75,000 typical for condos.
Liability
Minimum $100,000. $300,000 or more if you have assets to protect. Liability coverage is inexpensive to increase.
Loss Assessment
$10,000-50,000 recommended depending on HOA size and common area complexity.
Assuming the HOA Covers Everything
The most expensive mistake. Master policies have gaps. Your belongings and liability are never covered.
Not Reviewing the Master Policy
You can't fill gaps you don't know exist. Get a copy. Read it.
Underinsuring Improvements
That $40,000 kitchen renovation needs coverage. Standard policies won't automatically cover upgrades.
Skipping Loss Assessment Coverage
Major disasters exhaust master policies. Hurricane, fire, flood — when the HOA assesses owners $15,000 each for uncovered repairs, loss assessment coverage pays.
Ignoring Water Damage Liability
Condo water claims are common and expensive. A leak from your unit into units below creates liability fast. Adequate liability limits matter.