Condo Master Policy Gap Analyzer
Identify coverage gaps between your condo association's master policy and your HO-6 policy. Calculate how much additional coverage you need for your unit.
Condo Insurance (HO-6) Calculator
Estimate your HO-6 condo insurance premium based on unit value, personal property, improvements, and liability needs. Covers walls-in and contents coverage.
$
$
Estimated Annual Premium⧉
$523.00
$43.58/month
Monthly Cost⧉
$43.58
HO-6 condo insurance
Planning notes, formulas, and examples
About the Condo Insurance (HO-6) Calculator
Condo insurance, formally known as HO-6, protects your individual unit from the walls in, your personal belongings, interior improvements, and your personal liability. Unlike homeowners insurance, condo insurance doesn't cover the building exterior, roof, or common areas — those are covered by the condo association's master policy.
HO-6 premiums are generally lower than homeowners insurance because you're only insuring the interior of your unit, not the entire structure. However, the amount depends on your unit's interior improvements (upgraded kitchen, hardwood floors, custom cabinets), your personal property value, and your liability needs.
It gives educational estimates for HO-6 condo insurance. Actual premiums depend on your insurer, specific unit, master policy terms, and location. Always review your condo association's master policy to understand what it covers.
When This Page Helps
Many condo owners assume the master policy covers everything, but it typically only covers the building structure and common areas. Your interior improvements, personal belongings, and liability are your responsibility. This calculator helps you determine the right HO-6 coverage.
How to Use the Inputs
- Enter the value of your interior improvements (upgraded flooring, cabinets, countertops, etc.).
- Enter the total value of your personal belongings.
- Select your liability coverage limit.
- Select your deductible amount.
- Review the estimated annual and monthly premium.
Formula used
Dwelling Coverage = Interior Improvements Value
Contents Coverage = Personal Property Value
Base Premium = (Dwelling / 1000 × Dwelling Rate) + (Contents / 1000 × Contents Rate) + Liability Cost
Deductible Adjustment = Base Premium × Deductible FactorExample Calculation
Result: $525/year ($43.75/month)
Interior improvements of $50,000 at $5/$1,000 = $250, plus personal property of $35,000 at $5.50/$1,000 = $192.50, plus $300,000 liability at $45 = $487.50. With a $1,000 deductible factor (1.0) plus fees ≈ $525/year.
Tips & Best Practices
- Read your condo association's master policy to understand what's covered vs. what's your responsibility.
- An "all-in" master policy covers interior fixtures; a "bare walls" policy doesn't — your HO-6 needs differ accordingly.
- Include the cost of interior upgrades: custom cabinets, hardwood floors, granite countertops, etc.
- Loss assessment coverage (usually $1,000–$50,000) protects when the HOA levies special assessments after a major loss.
- HO-6 rates are typically 30–50% less than comparable HO-3 (homeowners) rates.
- These are educational estimates only; actual premiums vary by insurer and condo association.
Understanding Your Master Policy
The first step in choosing HO-6 coverage is reading your condo association's master policy. A "bare walls" policy means your HO-6 needs to cover all interior finishes, fixtures, and improvements. An "all-in" policy covers some interior components, reducing your HO-6 needs.
What to Include in Your HO-6
Your HO-6 should cover interior improvements above builder-grade (hardwood floors, custom cabinets, granite countertops), all personal belongings, personal liability, additional living expenses, and loss assessment coverage.
Common HO-6 Add-Ons
Consider water backup coverage, earthquake coverage (if applicable), and increased loss assessment limits. In areas prone to storms, wind coverage may need to be added separately. Review your master policy for exclusions that affect your unit.
Sources & Methodology
Last updated:
Frequently Asked Questions
HO-6 is a condo insurance policy that covers everything from the walls in: your personal belongings, interior improvements (flooring, cabinets, fixtures), personal liability, additional living expenses, and loss assessments. The condo association's master policy covers the building exterior and common areas.
Homeowners (HO-3) covers the entire structure. Condo (HO-6) only covers the interior of your unit. This means HO-6 is generally cheaper because the exterior, roof, and common areas are covered by the association's master policy.
The master policy is the insurance carried by your condo association for the building and common areas. It may be "bare walls" (covering only the structure) or "all-in" (covering interior fixtures and built-ins). Your HO-6 policy fills the gaps.
If a major loss exceeds the master policy limits, the association can levy a special assessment on all unit owners. Loss assessment coverage in your HO-6 policy pays your share, protecting you from unexpected five-figure assessments.
Calculate the cost to restore your unit's interior (improvements above builder grade) plus your personal property value. Typical HO-6 dwelling coverage ranges from $20,000 to $100,000+ depending on interior upgrades. Personal property is separate.
Yes, typically. If a pipe bursts in the unit above you and damages your ceiling, flooring, and belongings, your HO-6 policy covers the damage to your unit's interior and your belongings. You can then subrogate against the neighbor's policy.
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