RENTERS, CONDO AND LANDLORD
How much is condo insurance? HO-6 averages by state, and why the master policy moves the price
Condo insurance (the HO-6 unit-owner policy) averaged $658 a year in 2023, about $55 a month, across 6.84 million policy-years reported to the National Association of Insurance Commissioners. State averages run from $331 in Wisconsin to $1,146 in Florida. What sets a condo premium is less the size of the limit than the slice of the building the association's master policy leaves to you.
Published averages, not a quote. Not insurance advice. Your premium will differ with your unit, the association's master policy, your claims history and your insurer. Flood is excluded from standard condo unit-owner policies and from every figure on this page.
The slice of the building you insure
A house policy insures a whole structure. A condo policy insures what is left after the association's policy has done its part, and that remainder changes from building to building. NAIC's report defines the HO-6 as broad named-perils coverage for the personal property of condominium or cooperative unit owners, "as well as certain building items in which the unit owner may have an insurable interest." Those building items are the part that varies, and they are the reason two owners in the same city can be asked for very different premiums.
Florida writes the split into its statute, which makes it a useful worked example. Section 718.111(11)(f) of the Florida Statutes requires every association property policy issued or renewed on or after January 1, 2009, to give primary coverage for all portions of the condominium property "as originally installed or replacement of like kind and quality, in accordance with the original plans and specifications," plus alterations made under section 718.113(2). The same paragraph then requires that policy to exclude a list of items inside the unit: personal property, "floor, wall, and ceiling coverings, electrical fixtures, appliances, water heaters, water filters, built-in cabinets and countertops, and window treatments." It closes with the sentence that matters to an owner: "Such property and any insurance thereupon is the responsibility of the unit owner."
Show the numbers behind this figure
| Item | Who insures it under 718.111(11)(f) |
|---|---|
| Condominium property as originally installed, or like kind and quality | Association property policy (primary coverage) |
| Alterations or additions made under s. 718.113(2) | Association property policy |
| Floor, wall and ceiling coverings | Unit owner |
| Electrical fixtures | Unit owner |
| Appliances, water heaters, water filters | Unit owner |
| Built-in cabinets and countertops | Unit owner |
| Window treatments, including curtains, drapes, blinds and hardware | Unit owner |
| Personal property within the unit or limited common elements | Unit owner |
Outside Florida, the line sits wherever the declaration of condominium and the association's policy put it, and the terms owners use for the two ends are informal. A master policy that covers little beyond the bare structure leaves the owner to insure the finishes, fixtures and cabinetry; one that covers the interior as originally built leaves mainly improvements, belongings and liability. Neither label is defined in the NAIC data, and NAIC does not report how many policies sit at each end. What the data does show is that the HO-6 premium has a high floor even at small limits, which is consistent with policies that carry building items, liability and loss assessment coverage alongside belongings.
The mortgage side puts the same idea in writing. Fannie Mae's Selling Guide, section B7-3-04, dated August 5, 2026, says the borrower must have a unit owner policy when "any portion of the interior of the unit or improvements to the unit are not covered by the master property insurance policy, or the master property insurance policy includes a per unit deductible." The minimum coverage is the greater of the amount needed to restore the uncovered interior and improvements "to its condition prior to a loss event," or the per-unit deductible. The policy must settle on a replacement cost basis, and its deductible may not exceed the greater of 5 percent of the coverage amount or $2,500. The guide also lists the perils the unit policy must include at a minimum, among them fire or lightning, windstorm including named storms, hail and smoke. Our guide to the HOA master policy covers the association side of those rules, and the HO-6 vs HO-3 guide shows how to find the line in your own documents.
A high floor, then a long flat stretch
NAIC's Table 5 groups condo policies into fifteen bands by amount of insurance, the same bands it uses for renters. The report does not say which coverage line sets the band on an HO-6, so read the bands as NAIC's grouping, not as a dwelling or contents limit. Countrywide, condo policies under $10,000 averaged $422 a year. Policies at $80,000 to $99,999 averaged $690. The higher band starts at eight times the smallest band's ceiling of $9,999, yet its average premium is about 1.6 times as large. Only the last band breaks the pattern: at $200,000 and over, the HO-6 average is $1,928.
Show the numbers behind this figure
| Coverage band | HO-6 average per year | HO-6 per month | HO-4 average per year | HO-6 house-years | Share of HO-6 |
|---|---|---|---|---|---|
| $9,999 and under | $422 | $35 | $115 | 393,011 | 5.7% |
| $10,000 to $14,999 | $501 | $42 | $140 | 306,945 | 4.5% |
| $15,000 to $19,999 | $482 | $40 | $148 | 322,262 | 4.7% |
| $20,000 to $24,999 | $550 | $46 | $156 | 500,083 | 7.3% |
| $25,000 to $29,999 | $531 | $44 | $164 | 495,959 | 7.3% |
| $30,000 to $34,999 | $580 | $48 | $185 | 467,475 | 6.8% |
| $35,000 to $39,999 | $548 | $46 | $181 | 295,755 | 4.3% |
| $40,000 to $49,999 | $464 | $39 | $204 | 541,902 | 7.9% |
| $50,000 to $59,999 | $560 | $47 | $205 | 916,968 | 13.4% |
| $60,000 to $69,999 | $621 | $52 | $230 | 446,530 | 6.5% |
| $70,000 to $79,999 | $657 | $55 | $262 | 348,261 | 5.1% |
| $80,000 to $99,999 | $690 | $58 | $288 | 472,322 | 6.9% |
| $100,000 to $124,999 | $776 | $65 | $328 | 542,895 | 7.9% |
| $125,000 to $199,999 | $869 | $72 | $403 | 458,161 | 6.7% |
| $200,000 and over | $1,928 | $161 | $710 | 331,557 | 4.8% |
The flat stretch is the main fact about condo prices. Between the smallest band and the $80,000 to $99,999 band, the average moves by $268 a year, and it does not even rise in a straight line: the $40,000 to $49,999 band averages $464, only $42 above the smallest band and $84 below the $35,000 to $39,999 band's $548. Those dips are mix, not price. Each band holds different owners, in different states, with different master policies behind them, and the averages carry that mix with them. The pattern that survives the mix is the floor: no band averages less than $422, and in every band the condo average is at least 2.1 times the renters average for the same amount of insurance.
Where condo owners actually sit is spread out. The single largest band is $50,000 to $59,999, with 916,968 house-years, 13.4 percent of all HO-6 exposure. Bands below $40,000 together hold 40.7 percent; bands from $100,000 up hold 19.5 percent. Compare renters: NAIC reports that 67.1 percent of HO-4 and HO-6 exposures combined sit below $35,000, a share pushed up by the renters, who outnumber condo owners about three to one; for condo policies alone, the countrywide bands put 36.3 percent below $35,000. Condo policies made up 23.47 percent of the combined tenant and condo house-years in 2023.
Condo insurance averages by state
Across states the HO-6 average runs from $331 in Wisconsin to $1,146 in Florida, about 3.5 times from bottom to top. The median state sits at $521, well below the countrywide $658, because the countrywide figure is weighted by policies and three large, above-median markets dominate it: California at $722, Florida at $1,146 and New York at $781 together hold 36.4 percent of all HO-6 house-years. The table adds two columns that help read the price: how many condo policies the state has, and the condo share of the state's combined renters and condo policies.
| State | Condo (HO-6) average per year, 2023 | Per month | HO-6 house-years | Condo share of HO-4 + HO-6 | HO-3 homeowners average, for scale |
|---|---|---|---|---|---|
| Florida | $1,146 | $96 | 851,087 | 42.7% | $2,779 |
| Texas | $999 | $83 | 156,730 | 6.4% | $2,864 |
| Louisiana | $992 | $83 | 18,853 | 10.4% | $3,027 |
| New York | $781 | $65 | 593,091 | 34.4% | $1,801 |
| Mississippi | $764 | $64 | 6,446 | 7.6% | $2,029 |
| Oklahoma | $752 | $63 | 11,543 | 6.0% | $2,486 |
| Alabama | $751 | $63 | 22,496 | 9.2% | $1,906 |
| Georgia | $748 | $62 | 124,950 | 14.3% | $1,828 |
| California | $722 | $60 | 1,042,327 | 25.8% | $1,655 |
| Arkansas | $697 | $58 | 7,307 | 5.9% | $1,870 |
| Colorado | $657 | $55 | 248,513 | 30.9% | $2,492 |
| Montana | $642 | $54 | 14,622 | 15.1% | $1,768 |
| North Carolina | $637 | $53 | 84,182 | 11.9% | $1,852 |
| South Carolina | $628 | $52 | 76,474 | 20.4% | $1,753 |
| Rhode Island | $607 | $51 | 23,750 | 30.1% | $2,396 |
| Arizona | $603 | $50 | 141,155 | 21.6% | $1,194 |
| Wyoming | $596 | $50 | 3,920 | 11.4% | $1,853 |
| Tennessee | $592 | $49 | 78,156 | 15.4% | $1,649 |
| Idaho | $570 | $48 | 11,933 | 9.1% | $1,135 |
| Delaware | $544 | $45 | 21,594 | 22.5% | $1,196 |
| Virginia | $539 | $45 | 164,396 | 18.6% | $1,537 |
| Massachusetts | $537 | $45 | 276,500 | 37.9% | $2,134 |
| Nevada | $531 | $44 | 82,131 | 23.2% | $1,013 |
| Illinois | $522 | $44 | 454,457 | 39.8% | $1,480 |
| Alaska | $521 | $43 | 13,218 | 24.9% | $1,216 |
| New Jersey | $521 | $43 | 330,171 | 37.3% | $1,551 |
| New Mexico | $521 | $43 | 10,843 | 10.8% | $1,490 |
| Washington | $512 | $43 | 135,719 | 15.0% | $1,232 |
| District of Columbia | $504 | $42 | 51,360 | 29.9% | $1,545 |
| Oregon | $483 | $40 | 48,961 | 10.9% | $1,003 |
| Kentucky | $481 | $40 | 42,796 | 13.4% | $1,525 |
| Missouri | $474 | $40 | 81,297 | 15.9% | $1,589 |
| Pennsylvania | $474 | $40 | 146,412 | 14.1% | $1,217 |
| Maryland | $468 | $39 | 146,475 | 22.0% | $1,578 |
| Minnesota | $468 | $39 | 190,986 | 28.7% | $1,988 |
| Hawaii | $465 | $39 | 138,925 | 61.2% | $1,549 |
| Connecticut | $459 | $38 | 116,465 | 33.4% | $2,036 |
| Nebraska | $442 | $37 | 9,044 | 5.3% | $2,142 |
| Maine | $437 | $36 | 22,461 | 23.1% | $1,150 |
| Kansas | $433 | $36 | 16,014 | 6.8% | $1,733 |
| Indiana | $431 | $36 | 56,031 | 12.6% | $1,259 |
| New Hampshire | $421 | $35 | 49,150 | 36.0% | $1,300 |
| Michigan | $413 | $34 | 208,660 | 25.3% | $1,110 |
| Vermont | $413 | $34 | 19,331 | 34.4% | $1,215 |
| Ohio | $386 | $32 | 192,709 | 20.3% | $1,116 |
| South Dakota | $380 | $32 | 6,332 | 7.9% | $1,614 |
| Utah | $379 | $32 | 104,858 | 32.5% | $1,107 |
| West Virginia | $375 | $31 | 4,323 | 6.6% | $1,179 |
| Iowa | $367 | $31 | 52,646 | 20.8% | $1,342 |
| North Dakota | $338 | $28 | 10,017 | 11.2% | $1,414 |
| Wisconsin | $331 | $28 | 118,269 | 20.0% | $923 |
| Countrywide | $658 | $55 | 6,840,085 | 23.5% | $1,737 |
Source: NAIC homeowners report, Data for 2023, Table 5 (HO-6 and HO-4) and Table 4 (HO-3), totals by state. We recomputed each average from the printed written premium and house-years; the state HO-6 premiums sum to the countrywide $4,502,471,346. Verified Oct 2026.
Read across a row rather than down a column and the condo price looks different again. Countrywide, the HO-6 average is 37.9 percent of the HO-3 homeowners average. By state, that ratio runs from 20.6 percent in Nebraska, where an HO-3 averages $2,142 and an HO-6 $442, to 52.4 percent in Nevada, where the figures are $1,013 and $531. Arizona, Idaho and Oregon also sit near half. In other words, a state that is expensive for house owners is not reliably expensive for condo owners, and the reverse. The building risk that drives a house premium is mostly carried by the association's policy, so the part left on the unit owner's policy follows a different set of drivers.
Florida, Texas, New York: what a small limit still costs
The state pages of NAIC's Table 5 break each state into the same fifteen bands. They show that the floor seen countrywide is a state-by-state fact, and that it sits at very different heights.
| State | Under $10,000 | $20,000 to $24,999 | $50,000 to $59,999 | $200,000 and over | All amounts |
|---|---|---|---|---|---|
| Florida | $850 | $861 | $630 | $5,658 | $1,146 |
| Texas | $615 | $658 | $782 | $1,755 | $999 |
| New York | $414 | $377 | $562 | $3,826 | $781 |
| California | $494 | $575 | $735 | $2,305 | $722 |
| Hawaii | $247 | $353 | $478 | $2,039 | $465 |
| Countrywide | $422 | $550 | $560 | $1,928 | $658 |
Source: NAIC homeowners report, Data for 2023, Table 5, HO-6 column, state pages for Florida, Texas, New York, California and Hawaii and the countrywide page. State band averages are written premium divided by house-years; each state's bands sum to its printed total. Verified Oct 2026.
In Florida, a condo policy in the smallest band averaged $850, more than the countrywide all-amounts average. Florida law adds one piece to every policy: section 627.714 requires a unit owner's policy issued or renewed on or after July 1, 2010, to include "at least $2,000 in property loss assessment coverage" for assessments from the same direct loss, with a deductible of no more than $250. NAIC's figures do not split premium by coverage, so the data cannot show what that piece costs, only that the Florida floor is high. Our loss assessment guide works through how that coverage is sized against the association's deductible.
Florida's bands also show how far mix can bend a curve. The $40,000 to $49,999 band averaged $453 and the $50,000 to $59,999 band $630, both below the $20,000 to $24,999 band's $861. Those two cheaper bands hold 32.8 percent of Florida's HO-6 house-years, so they are not a statistical fluke; they are a large group of owners whose policies, places or buildings differ from the owners in the smaller bands. At the top, the $200,000-and-over band averaged $5,658 and held only 2.7 percent of Florida's condo policies, yet 13.3 percent of Florida's HO-6 premium.
New York sits the other way around. Its small bands average less than the countrywide figures, at $414 under $10,000 and $377 at $20,000 to $24,999, but 7.1 percent of New York's HO-6 policies are in the $200,000-and-over band, where the average is $3,826, and that band alone accounts for 34.8 percent of New York's HO-6 premium. Texas has the flattest curve of the five: $615 in the smallest band and $1,755 in the largest, a ratio of 2.9, against 9.2 in New York. Texas also has the second-highest state average, $999, from a small market of 156,730 house-years.
Hawaii, where condo policies outnumber renters policies
Hawaii is the one state where condo unit-owner policies are the majority of the combined renters and condo market, at 61.2 percent of house-years. Florida is next at 42.7 percent, then Illinois at 39.8 percent. Yet Hawaii's HO-6 average of $465 sits in the lower half of the state list, and its smallest band averages $247, the lowest of the five states in the table above. NAIC's data cannot say why. It does not report master-policy terms, building age, construction or the mix of perils behind each premium, and any explanation would be a guess. What a Hawaii owner can take from it is narrower and more useful: in a condo-heavy market, a "combined renters and condo" average published elsewhere will be pulled toward the HO-6 figure, so check which form a published number describes before comparing it with a quote.
Size the policy first, then price it: one New York unit
Here is a quote worked with invented inputs. An owner of a New York condo unit has been quoted $840 a year, about $70 a month, on an HO-6 with $65,000 of coverage, and wants to know whether that is out of line.
The first step is not the average. It is the association's policy summary, because it sets what the $65,000 has to restore. If the master policy covers the unit's interior as originally built, $65,000 may be ample for improvements and belongings. If it stops at the bare structure, $65,000 may not rebuild the kitchen, floors and bathrooms, and a cheaper quote at the same limit would not fix that. Fannie Mae's rule for loans it buys says the same thing in lender language: the minimum is what restores the uncovered interior and improvements, or the per-unit deductible if that is larger.
Suppose the association's summary shows the master policy stops at the bare structure, and the owner's own estimate puts the kitchen, bathrooms, flooring and fixtures at $45,000 to rebuild, on top of $20,000 of belongings. The policy the owner actually needs is closer to $110,000 than $65,000, and the quote in hand is for the wrong product. Repriced at $110,000, the right yardstick moves too: New York's $100,000 to $124,999 band averaged $867 in 2023, on $37,773,247 of premium and 43,575.2 house-years. If instead the master policy covers the interior as built, $65,000 may be ample, and the yardsticks below apply as they stand.
| Yardstick for the $840 quote at $65,000 | Average | Quote minus average | What the comparison ignores |
|---|---|---|---|
| New York, all coverage amounts | $781 | +$59 (about 8%) | The coverage amount |
| Countrywide, $60,000 to $69,999 | $621 | +$219 | The state |
| New York, $60,000 to $69,999 | $570 | +$270 (about 47%) | Deductible, endorsements, building, rate changes since 2023 |
Source: NAIC homeowners report, Data for 2023, Table 5, New York and Countrywide pages, HO-6 column; the New York $60,000 to $69,999 band is $29,328,060 of premium over 51,433.9 house-years. The quote, limits and rebuild estimate are invented inputs. Verified Oct 2026.
The last row is the one that carries information, and a 47 percent gap over the matching state band is large enough to ask about. The deductible, the liability limit, any loss assessment or water backup endorsements, replacement cost on contents, the building's claims history and rate changes since 2023 can each move a premium, and the quote's declarations page shows which of them apply. Get two more quotes written to the same limit, deductible and endorsements before reading anything into the gap; the quote comparison worksheet holds them side by side.
What the condo averages leave out
Three things sit outside every figure on this page. The first is flood. A standard HO-6 does not cover it, and a unit owner who wants flood coverage buys it separately; on the association side, Fannie Mae's guide refers to "an NFIP RCBAP, or equivalent master flood insurance policy issued by a private insurer." Our guide to why flood insurance is separate explains the gap. The second is the association's own premium, which reaches the owner through the monthly dues rather than through the HO-6, and which the NAIC averages do not include. The third is time: these are 2023 written premiums. NAIC's release on its 2022 data reported year-over-year changes for HO-3 and HO-4 policies but gave none for HO-6, so this page does not print a condo trend, and nothing here is a forecast for any renewal.
The figures also cannot rank insurers or price any single unit. They are total written premium divided by house-years, mixing every deductible, liability limit, endorsement and discount in force. For the owner side of the house-versus-condo comparison, see homeowners insurance cost per month; for tenants, the renters insurance cost by state page uses the same NAIC table. Both sit with this page in the renters, condo and landlord guides.
Before you compare prices, get the association's certificate or policy summary and write down three things from it: what the master policy covers inside the units, its deductible and how that deductible is charged to owners, and whether it carries a per-unit deductible for wind or any other peril. Those three answers set the limit your HO-6 needs, and the limit is what the averages above should be matched against.
Condo insurance cost: questions owners ask
How much does condo insurance cost per month?
About $55 a month on the countrywide average, which NAIC's report on 2023 data puts at $658 a year for HO-6 policies. The state you live in moves that a long way: Wisconsin's average works out to about $28 a month and Florida's to about $96. What your own unit needs is set first by the association's master policy, which decides how much of the interior your policy has to rebuild, so read that before comparing any monthly figure.
Why does condo insurance cost so much more than renters insurance?
Countrywide, the HO-6 average of $658 is about 3.8 times the HO-4 renters average of $173. NAIC describes the HO-6 as covering personal property plus certain building items in which the unit owner has an insurable interest, which a renters policy does not insure. Even in the smallest coverage band, under $10,000, condo policies averaged $422 against $115 for renters policies.
Does a bigger HO-6 limit cost much more?
Less than the limit grows, until the top band. Countrywide, condo policies under $10,000 averaged $422 and those at $80,000 to $99,999 averaged $690, so a band starting at eight times the smallest band's ceiling averaged about 1.6 times the premium. At $200,000 and over the average jumps to $1,928. The bands hold different owners in different places, so read them as a description, not a rate.
What does the condo association's master policy cover?
It depends on your declaration and on state law. Florida's statute is a clear example: the association's policy must cover the condominium property as originally installed, and must exclude items such as floor, wall and ceiling coverings, appliances, water heaters, built-in cabinets and countertops inside the unit, which the statute makes the unit owner's responsibility. Outside Florida, the declaration of condominium and the association's own policy set the line, so ask the association for its policy summary.
How much HO-6 coverage does my lender require?
For loans sold to Fannie Mae, the Selling Guide (B7-3-04, dated August 5, 2026) requires a unit owner policy when the master policy leaves any part of the interior or improvements uncovered, or carries a per-unit deductible. The coverage must be at least the greater of what it takes to restore the unit's uncovered interior and improvements, or the per-unit deductible. The policy must settle on a replacement cost basis, and the deductible may not exceed the greater of 5 percent of the coverage amount or $2,500.
Is the Florida condo average comparable to other states?
Only loosely. Florida's HO-6 average of $1,146 is the highest in the NAIC data, and Florida law requires every unit owner policy to include at least $2,000 of loss assessment coverage. Florida also has 851,087 HO-6 house-years, about 12 percent of the national total, so it pulls the countrywide average up. Compare a Florida quote with Florida's own coverage band rather than with the national figure.
Sources and verification
Checked October 24 to 28, 2026. NAIC, Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (2026): policy form definitions, the exposure narrative, Table 5 (HO-4 and HO-6 by state and by amount of insurance, including the Florida, Texas, New York, California and Hawaii pages) and Table 4 (HO-3 totals). NAIC, release on the 2022 homeowners report (May 21, 2025). Florida Statutes section 718.111(11) and section 627.714 (2026). Fannie Mae Selling Guide B7-3-04 (08/05/2026) and B7-3-08. Ratios, shares and the New York comparison are our arithmetic; the New York quote is an invented input.