Condo (HO-6) Insurance Calculator

The HOA master policy covers the building structure, common areas, and roof. Your HO-6 covers everything inside the unit walls — appliances, flooring, cabinets, electronics, clothing, plus liability if a guest is injured in your unit. Where the line falls between “structure” and “contents” depends on which of three master-policy structures your HOA uses:

• Bare walls: master policy covers concrete and studs only. Your HO-6 must cover everything inside the studs — drywall, fixtures, cabinets, flooring. Most expensive HO-6 needed.
• Single entity (“walls-in”): master covers the unit as originally built. HO-6 covers any upgrades you added plus personal property.
• All-in (“all-inclusive”): master covers everything including post-construction upgrades. HO-6 only needs personal property and liability. Cheapest HO-6.

Pull your master-policy declarations page from the HOA before sizing HO-6 — it tells you which structure applies and where the line falls.

When the master policy has a $25K-$50K deductible (common in coastal or high-density buildings), the HOA can split that deductible across all unit owners as a special assessment after a covered loss. Your loss assessment coverage in HO-6 pays your share. Get at least $50K of loss assessment coverage if your master deductible is $25K+; raise to $100K if your building has 50+ units (your share gets diluted but the absolute number can still be high after a major event like roof damage or pipe burst).

This is the single most underbought coverage in HO-6 policies, and the one that turns a routine HOA event into a personal financial crisis.

HO-6 does not cover flood — only sudden internal water (burst pipe, washing machine failure). If your unit is on the ground floor or you’re in a FEMA-designated flood zone, you need a separate NFIP residential condo policy. Even if your HOA’s master policy includes flood for the building structure, your personal property usually isn’t covered. NFIP costs $300-$700/year for ground-floor units in moderate-risk zones, more in high-risk coastal zones.

HO-6 sits between renters and homeowners. Renters insurance covers personal property and liability only — you don’t own anything structural. HO-6 adds coverage for the structural improvements inside your unit (flooring, cabinets, fixtures) that you do own. HO-3 (homeowners) covers the entire dwelling structure plus contents, which a condo owner doesn’t need because the HOA already insures the building.

If you bought the condo, HO-6 is correct. Compare with the homeowners insurance calculator for single-family alternatives and the renters insurance calculator if you’re renting a unit instead.

Whatever you add to the unit — kitchen rebuild, hardwood floors, custom built-ins — increases your HO-6 dwelling-A limit need. A $30,000 kitchen renovation needs $30,000 added to the dwelling limit; otherwise you’re underinsured at claim time and the carrier will pro-rate the payout.

Update HO-6 dwelling-A any time you spend $5,000+ on permanent improvements. Most carriers let you add a renovation rider mid-policy without re-quoting.