How much is condo insurance?

The average cost of condo insurance through Progressive depends on factors such as your location, type of unit, claims history, and coverage limits.

Is condo insurance required by your HOA (homeowners association)?

Requirements will vary per HOA, but a condo insurance policy may not be mandated by your condo association. They may require you to pay dues to help cover the HOA's master policy. Note that lenders typically require you to carry condo insurance if you're financing your condo.

What's the difference between condo insurance and homeowners insurance?

Damage to the outside of your home, including exterior walls and garages, won't be covered by condo insurance. Also, your condo policy's personal liability coverage may not cover injuries in common areas (shared hallways, parking lots, etc.).

Are townhomes insured like condos?

If you own a townhome that requires membership to a condo association, you may be able to cover your property with a condo insurance policy. However, if you're responsible for your townhome's exterior, you need a homeowners policy to potentially cover your unit's interior and exterior.

Condo Insurance

Reliable coverage for your condo, belongings, and more

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Condo insurance protects what your association doesn't

Your condo association carries a master insurance policy that covers what they're responsible for, including the grounds, common areas (such as hallways and elevators), and the outside/physical structure of your condo. But your personal property and the interior of your condo generally aren't covered by the association’s insurance policy. You need your own condo insurance policy (also known as an HO6 policy) to protect everything in your unit from the drywall in, such as cabinets, flooring and countertops, as well as your belongings.

Unlock immediate savings with condo insurance discounts

Progressive may automatically apply these discounts and more to your policy.

Multi-policy

Bundle your auto and condo insurance policy and save an average of 7% on car insurance.^* Your discount will be applied to your auto policy.
Pay in full

Score an easy discount when you pay for your condo insurance policy in full and up front where available.
Alarm systems and safety devices

You could earn discounts for having burglar alarms, fire alarms, automatic sprinklers, and more.

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Condo insurance protects your unit, belongings, and wallet

We offer coverage for your personal property and additional living expenses if you can't stay in your condo after a covered incident. Plus, your condo policy may provide protection for the interior of your condo and personal liability coverage.

Personal property coverage

Covers your personal belongings

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Items like furniture, portable appliances, and electronics may be protected by personal property coverage if they're stolen, damaged, or destroyed in a covered loss.

Example: Your roof leaks and thousands of dollars' worth of clothes, furniture, and other items are damaged. Most condo association insurance policies won't cover your personal property unless you can prove negligence. Your condo insurance may cover these items, up to your coverage limit and minus your deductible.

Loss of use coverage

Pays if you can't stay in your condo during repairs

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Specified living expenses, above what you normally pay, may be covered by loss of use coverage if you can't stay in your unit while repairs are made due to a covered loss.

Example: Your condo is damaged in a fire, and your two-week hotel stay costs $2,000. The bill may be covered, as well as meal expenses above your usual food costs. Be sure to keep any receipts as proof for your claim.

Personal liability coverage

Protects your assets

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A condo policy with personal liability coverage may help protect your assets, covering liability claims and lawsuit costs, if you or your family members are responsible for someone else's injuries or damage.

Example: A guest is injured after falling down the stairs because of a slippery carpet you knew about. Your policy may pay for their medical bills and lost wages due to injury, up to your coverage limit.

Dwelling coverage

Protects your unit's walls, ceilings, and floors

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Depending on your policy, dwelling coverage may pay to repair or replace everything in your unit from the drywall in due to damage from a covered loss.

Example: A small fire damages your kitchen floor. Dwelling coverage may pay to repair or replace the floor, up to your coverage limit.

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