Average condo insurance cost in 2026

Q: Is condo insurance required by law?

No . Unlike car insurance, condo insurance isn't required by law, but your mortgage company will require it.

How much is condo insurance in 2026?

The average condo insurance cost nationwide is $815 yearly or $68 monthly. That premium is based on $60,000 in personal property coverage, with a $1,000 deductible and $300,000 in personal liability protection.

Condo insurance is cheaper than homeowners insurance because of one key difference between homeowners and condo insurance: a condo insurance policy (HO-6) doesn't cover the building, while a homeowners policy (HO-3) does.

The condo insurance calculator below offers more coverage options for you to compare. Your HO-6 insurance cost will depend on how much condo insurance you need, the deductible and where you live.

People ask

How much dwelling coverage do I need for a condo?

How much dwelling coverage you need for a condo, usually called building property coverage, depends on your HOA policy. You may be responsible only for your upgrades to the condo, or for everything from the walls in.

Condo insurance cost calculator: Estimate HO-6 rates in your area

To find the average condo insurance cost in your city, enter your ZIP code, personal property coverage, deductible and liability amounts in the condo insurance calculator below, which provides condo insurance estimates based on average rates.

Condo insurance calculator

Average condo insurance rates in Texas

Most & least expensive ZIP codes for condo insurance in Texas

Most expensive
Least expensive

ZIP code	City	Highest rate
77554	Galveston	$2,034
77550	Galveston	$2,025
77551	Galveston	$1,936
77590	Texas City	$1,835

ZIP code	City	Lowest rate
79910	El Paso	$570
79918	Biggs Field	$570
79908	Biggs Field	$570
79968	El Paso	$571

Read our methodology

Which company has the cheapest condo insurance?

State Farm offers the cheapest condo insurance among major companies, with an annual average premium of $470. Allstate is second, costing an average of $710 a year.

Below are the average condo insurance costs from the top companies with the cheapest premiums in the U.S. We've also included the company's score in our best condo insurance companies ranking.

Company	Average annual rate	Insurance.com rating
State Farm	$470	4.35
Allstate	$710	4.1
Nationwide	$718	3.96
Auto-Owners	$739	4.25
American Family	$759	3.98
Farmers	$839	3.96
Progressive	$1,045	3.56
Travelers	$1,175	3.75
USAA*	$827	4.34

Read our methodology

*USAA only provides coverage to military members, veterans and their families.

Average condo insurance cost by state: Annual and monthly rates

Wyoming is the cheapest state for condo insurance, with an average cost of $288 per year, while Florida is the most expensive state for condo insurance, with an average cost of $1,408 per year.

Below, we have provided averages for four personal property coverage levels. All rates include a $1,000 deductible and $300,000 in liability.

Map

Table

Average annual premium

$22

$95

State name	$40k annual rate	$40k monthly rate	$60k annual rate	$60k monthly rate	$80k annual rate	$80k monthly rate	$100k annual rate	$100k monthly rate
Alaska	$414	$34	$471	$39	$525	$44	$576	$48
Alabama	$760	$63	$902	$75	$1,037	$86	$1,180	$98
Arkansas	$794	$66	$894	$75	$991	$83	$1,089	$91
Arizona	$983	$82	$1,102	$92	$1,206	$101	$1,304	$109
California	$858	$71	$978	$81	$1,079	$90	$1,186	$99
Colorado	$973	$81	$1,087	$91	$1,190	$99	$1,283	$107
Connecticut	$558	$47	$655	$55	$745	$62	$834	$70
Washington, D.C.	$437	$36	$527	$44	$619	$52	$709	$59
Delaware	$355	$30	$426	$36	$489	$41	$556	$46
Florida	$1,141	$95	$1,409	$117	$1,667	$139	$1,925	$160
Georgia	$750	$63	$880	$73	$998	$83	$1,111	$93
Hawaii	$486	$41	$595	$50	$687	$57	$779	$65
Iowa	$419	$35	$471	$39	$517	$43	$561	$47
Idaho	$483	$40	$544	$45	$602	$50	$656	$55
Illinois	$779	$65	$888	$74	$989	$82	$1,093	$91
Indiana	$633	$53	$709	$59	$778	$65	$850	$71
Kansas	$470	$39	$529	$44	$588	$49	$644	$54
Kentucky	$473	$39	$566	$47	$653	$54	$734	$61
Louisiana	$909	$76	$1,083	$90	$1,256	$105	$1,429	$119
Massachusetts	$607	$51	$716	$60	$814	$68	$911	$76
Maryland	$642	$53	$735	$61	$816	$68	$893	$74
Maine	$330	$28	$391	$33	$445	$37	$498	$42
Michigan	$724	$60	$838	$70	$945	$79	$1,049	$87
Minnesota	$493	$41	$591	$49	$687	$57	$786	$66
Missouri	$567	$47	$622	$52	$670	$56	$712	$59
Mississippi	$723	$60	$824	$69	$915	$76	$1,015	$85
Montana	$487	$41	$549	$46	$602	$50	$658	$55
North Carolina	$692	$58	$874	$73	$1,046	$87	$1,217	$101
North Dakota	$355	$30	$410	$34	$468	$39	$526	$44
Nebraska	$522	$44	$579	$48	$631	$53	$684	$57
New Hampshire	$512	$43	$579	$48	$638	$53	$691	$58
New Jersey	$461	$38	$532	$44	$599	$50	$664	$55
New Mexico	$352	$29	$392	$33	$424	$35	$456	$38
Nevada	$702	$59	$793	$66	$878	$73	$961	$80
New York	$602	$50	$697	$58	$788	$66	$889	$74
Ohio	$555	$46	$621	$52	$677	$56	$734	$61
Oklahoma	$666	$56	$767	$64	$865	$72	$960	$80
Oregon	$576	$48	$640	$53	$700	$58	$755	$63
Pennsylvania	$676	$56	$761	$63	$837	$70	$912	$76
Rhode Island	$521	$43	$604	$50	$676	$56	$754	$63
South Carolina	$568	$47	$655	$55	$738	$61	$827	$69
South Dakota	$391	$33	$436	$36	$489	$41	$537	$45
Tennessee	$583	$49	$674	$56	$760	$63	$846	$71
Texas	$902	$75	$1,043	$87	$1,179	$98	$1,307	$109
Utah	$695	$58	$780	$65	$856	$71	$925	$77
Virginia	$550	$46	$655	$55	$748	$62	$844	$70
Vermont	$258	$22	$294	$25	$326	$27	$360	$30
Washington	$578	$48	$672	$56	$761	$63	$851	$71
Wisconsin	$534	$44	$586	$49	$632	$53	$674	$56
West Virginia	$337	$28	$392	$33	$438	$36	$482	$40
Wyoming	$271	$23	$289	$24	$311	$26	$334	$28

Read our methodology

*Some state rates will vary based on the addition of a hurricane deductible and may be much higher when included.

How much is condo insurance by company in each state?

In some states, national carries are the cheapest, such as in California, where Travelers beats out smaller companies on cost.

That's not true everywhere; in Alaska, Country Financial is considerably cheaper than national carriers, and in Iowa, IMT Insurance is the cheapest option.

Below, you'll see average condo insurance rates by company, including the big names and many smaller companies with a more limited coverage area; you might save quite a bit if one of these companies operates in your state.

Company	Average annual premium	Average monthly premium
Allstate	$560	$47
Country Financial	$225	$19
State Farm	$383	$32
Western National Insurance	$382	$32
USAA	$581	$48

People ask

How do you calculate dwelling coverage for a condo?

A basic rule of thumb, however, is 20% of your condo's value. However, it's important to check with your HOA and the requirements of your mortgage agreement before you choose coverage levels.

How much is condo insurance per month?

The average cost of condo insurance per month is $68. That’s based on $60,000 of personal property coverage, $300,000 of liability and a $1,000 deductible.

How much you actually pay will depend on how much coverage you get and where you live.

Here is the average monthly cost of condo insurance at several coverage levels, all with a $1,000 deductible and $300,000 in liability.

Graph

Table

Company	Average annual premium	Average monthly premium
State Farm	$470	$39
Allstate	$710	$59
Nationwide	$718	$60
Auto-Owners	$739	$62
Farmers	$839	$70
Progressive	$1,045	$87
Travelers	$1,175	$98
USAA	$827	$69

Read our methodology

What are the three types of condo insurance coverage, and what type do you need?

Figuring out exactly what you need to insure and how much condo insurance you need to buy are the biggest challenges when buying condo insurance.

The three types of condo insurance policies include:

Bare-walls agreement. Individual unit owners are responsible for insuring their unit from the sheetrock or wall studs in. That means covering things like walls, sinks, cabinets, appliances, flooring, wallpaper and any renovations and improvements they make.
Single entity. With this type of coverage, the condo association master insurance policy provides protection for nearly everything in the complex, including your unit and the fixtures inside it. Condo owners are only responsible for insuring their personal possessions and upgrades.
All-inclusive agreement. This is similar to a single entity plan, except that the condo association's master policy also covers any improvements, upgrades, and additions you make to the unit. It is the most comprehensive form of coverage from the unit owner's perspective.

These policies include coverage for:

Building property: Covers any portion of the building for which you are responsible and is similar to dwelling coverage.
Personal property: Covers your possessions, from the towels to the TV.
Personal liability: Pays for injuries or damage to others for which you are responsible.
Additional living expenses coverage: Pays for another place to live if your condo isn't livable after a covered loss.

"Ask the condo association for a clear definition of where the unit line is," says Stuart Powell, adjunct professor at Campbell University in North Carolina. "If they can't answer the question, you might have to go to an insurance agent. And if they can't answer, you might need to go to a lawyer."

People ask

What is the condo master policy?

The master policy is the coverage the condo association takes out to cover the structures and any common areas, like a clubhouse, swimming pool or fitness room. What it covers varies, so it's important to ask.

What factors affect condo insurance premiums?

The factors that affect the cost of condo insurance include:

The type of policy. The more coverage you need for the structure, the more you will pay. So, if you have an all-in master policy, you don't need much in the way of building property coverage and will see lower rates.
Where your condo is located. Weather, crime rates and other local factors affect the cost of insurance.
Claims history. Past claims indicate a higher risk of future claims, so rates climb.
Credit history. In most states, credit affects rates; condo owners with poor credit will pay more.
Coverage levels. The more coverage you need, the more expensive your policy.
Insurance company. Rates vary quite a bit by insurance company, so which provider you choose will impact what you pay.

How to get a condo insurance estimate

To get an idea of what you can expect to pay, figure out how much condo coverage you need. Here are the steps to take to get an H0-6 insurance cost estimate.

Review your condo association’s master policy. This will influence how much building property coverage you need. You can get details on your master policy from the condo association. There are three types of master policies, as explained earlier.

All-in and all-inclusive
Special entity
Bare walls in and wall studs in

If you have all-inclusive coverage on your master policy, you don't need much building property coverage.

You need to get personal property and liability coverage.
You may need a small amount of building property coverage for any upgrades you make inside the unit.
Estimate the total cost of all your belongings and choose a personal property amount that matches it at replacement value so you’d get reimbursed for your items without depreciation.
Liability coverage, which helps pay for legal costs if you’re sued and pays for medical bills of guests injured in your home, should have limits of at least $100,000, but $300,000 is recommended. You want enough liability coverage to ensure all of your savings and assets are protected.

If you have a bare-walls or special entity policy, you must add building property coverage in addition to the above. This covers your cabinets, lighting, bathroom and kitchen features, rugs, laundry facilities, etc. Here are common scenarios that will help you figure out your building coverage amount:

It’s common for mortgage lenders to require a percentage of your loan as the building property coverage amount. So, for instance, if your condo loan is $300,000 and the lender requires building property coverage of 20%, it would be $60,000.
You can also try multiplying the square footage of your unit by the cost to rebuild it. This can be done by researching the cost per square foot in your area or of similar units and asking appraisers or contractors. A rough calculation as an example: If your condo is 1,200 square feet and the national average construction cost of $125 per square foot is applied, you’d get 150,000, so you’d get $150,000 in building property coverage.

Review rate tables and condo insurance cost estimator calculator. Now that you have an idea of how much coverage you need, review the various rate tables on this page, which show the average cost of condo insurance by month, state, and coverage level. You can also enter your ZIP code into our condo insurance cost estimator tool, which shows average rates as well as the highest and lowest from up to six major insurance companies. These rates assume all-in master policies.

Condo insurance trends: Rates by state, company and year

Like all home insurance policies, condo insurance rates have been on the rise in recent years. Here's a look at how HO-6 insurance rates are trending.

Company	Annual premium (2025)	Annual premium (2023)	Annual premium (2022)	Annual premium (2019)
Allstate	$560	$406	$316	$316
Country Financial	$225	$226	$215	$158
State Farm	$383	$404	$404	$483
Western National Insurance	$382	$2,461	$381	$381
USAA	$581	$1,004	$1,183	$979

Methodology

We partnered with Quadrant Information Services to field condo insurance rates in all 50 states and Washington. D.C.

National and state averages are based on:

$60,000 in personal property coverage
$300,000 in liability coverage
$1,000 deductible
Good credit

Additionally, we field rates for:

Personal property limits of $40,000, $80,000 and $100,000
Liability limits of $100,000

Learn more about our data and methodology.

FAQ: Condo insurance

What is an HO-6 policy?

An HO-6 policy is condo insurance. Insurance companies use codes to identify the different types of home insurance policy forms; HO-6 identifies condo insurance.

Is condo insurance required by law?

No. Unlike car insurance, condo insurance isn't required by law, but your mortgage company will require it.

Is condo insurance cheaper than home insurance?

Yes, condo insurance is cheaper than homeowners insurance. The average annual cost of home insurance is $2,601, well above the $656 average condo insurance rate. The main reason for the lower cost is that condo owners are not generally responsible for insuring the entire structure.