Best condo insurance companies
Based on average annual rates, J.D. Power claims satisfaction rankings and AM Best financial ratings, two companies led the pack in every category:
Amica: Best national condo insurance company
Rating: 4.45/5
Pros:
- Excellent customer service
- Competitive rates
- Financially stable, with a top rating from AM Best
Cons:
- Limited discounts
- Currently does not write policies in Hawaii
- Can’t work with an agent
Amica earned the top slot as the best overall insurance company, with a score of 4.45. It also ranked third-cheapest, with an average annual premium of $510.
If you would like a carrier with a large presence, Amica is available in 49 states and Washington, D.C. Coverage is not available in Hawaii.
While you don’t have a local agent to contact, Amica’s website and app allow customers to file and track claims, get ID cards, and pay bills.
Available condo insurance coverages:
- Dwelling/building property
- Personal property
- Liability
- Loss assessment
- Loss of use
- Medical payments
- Additional living expenses
- Damage to the property of others
- Water backup
- Replacement
- Scheduled personal property
- Electronics
- Identity
Discounts:
- Alarm system
- Loyalty
- Multi-line
- Claims-free
- Auto pay
- E-discount
Auto Club Group: Best regional condo insurance company
Rating: 4.43/5
Pros:
- Lowest condo insurance rates
- Significant bundling discounts
- Excellent financial ratings
Cons:
- You must be an AAA member to get coverage
- Available in just 14 states
Auto Club Group places first among regional condo insurance companies thanks to its high scores in our home insurance company survey. It has a low complaint ratio with the NAIC and an A rating from AM Best.
Auto Club Group had the lowest average annual condo rates in our survey at $396. Additionally, it offers an over 15% home and auto bundling discount that can lower your overall costs.
Available condo insurance coverages:
- Dwelling/building property
- Personal property
- Liability
- Loss assessment
- Loss of use
- Medical payments
- Service lines
- Home systems
Discounts:
- Multi-policy
- AAA membership
- Claims free
- Disappearing deductible
- Loyalty
- Home security
The best condo insurance companies
Amica came out on top among national carriers, while Auto Club Group is the best regional carrier. Take a look at both national and regional rankings below.
Because regional carriers are available in limited areas, we don’t rank them against national carriers. However, you should compare regional companies in your area with national carriers to find the best insurance for you.
Best national condo insurance companies
Amica is the top national condo insurance company for 2026, followed by State Farm.
| Company | NAIC Complaint Ratio | AM Best | Survey score | Annual premium | Overall rating |
|---|---|---|---|---|---|
| Amica | 0.37 | A+ | 4.12 | $510 | 4.45 |
| State Farm | 1.15 | A+ | 4.32 | $470 | 4.35 |
| Allstate | 1.26 | A+ | 4.38 | $710 | 4.1 |
| Farmers | 0.89 | A | 4.31 | $839 | 3.96 |
| Nationwide | 1.34 | A | 4.31 | $718 | 3.96 |
| Travelers | 0.91 | A++ | 4.25 | $1,175 | 3.75 |
| Progressive | 1.50 | A+ | 4.04 | $1,045 | 3.56 |
Best regional condo insurance companies
Auto Club Group is the best regional carrier for condo coverage in 2026, followed by Erie Insurance. Regional companies offer coverage in less than half of U.S. states, but may be the best option for you.
| Company | NAIC Complaint Ratio | AM Best | Survey score | Annual premium | Overall rating |
|---|---|---|---|---|---|
| Auto Club Group - ACG (AAA) | 0.89 | A | 4.34 | $396 | 4.43 |
| Erie Insurance | 0.46 | A | 4.48 | $641 | 4.35 |
| Auto-Owners | 0.39 | A+ | 4.22 | $739 | 4.25 |
| American Family | 1.07 | A | 4.29 | $759 | 3.98 |
| Auto Club Enterprises (AAA) | 1.03 | A+ | 4.59 | $1,138 | 3.81 |
| CSAA Insurance (AAA) | 1.31 | A | 4.18 | $913 | 3.71 |
Best condo insurance companies by state
Select your state below to see the average annual rate.
| Company name | Average condo insurance rates | AM Best rating | NAIC | Insurance.com rating |
|---|---|---|---|---|
| Farmers | $619 | A | 0.89 | 4.47 |
| State Farm | $874 | A+ | 1.15 | 4.41 |
| USAA | $1,137 | A++ | 0.46 | 4.39 |
| Nationwide | $1,207 | A | 1.34 | 4.11 |
| Progressive | $1,414 | A+ | 1.50 | 4.08 |
How much is condo insurance?
The average cost of condo insurance is $746 annually, or $62 per month, for $60,000 in coverage with a $1,000 deductible and $300,000 in liability protection. However, rates can be higher or lower, based on the carrier you choose and the state you live in.
Wyoming has the cheapest condo insurance rates at $289 a year on average. Florida has the most expensive rates on average at $1,409 a year.
Take a look below to find the average cost of condo insurance in your state.
| State Name | Avg. Annual Premium | Avg. Monthly Premium |
|---|---|---|
| Alaska | $471 | $39 |
| Alabama | $902 | $75 |
| Arkansas | $894 | $75 |
| Arizona | $1,102 | $92 |
| California | $978 | $81 |
| Colorado | $1,087 | $91 |
| Connecticut | $655 | $55 |
| Washington, D.C. | $527 | $44 |
| Delaware | $426 | $36 |
| Florida | $1,409 | $117 |
| Georgia | $880 | $73 |
| Hawaii | $595 | $50 |
| Iowa | $471 | $39 |
| Idaho | $544 | $45 |
| Illinois | $888 | $74 |
| Indiana | $709 | $59 |
| Kansas | $529 | $44 |
| Kentucky | $566 | $47 |
| Louisiana | $1,083 | $90 |
| Massachusetts | $716 | $60 |
| Maryland | $735 | $61 |
| Maine | $391 | $33 |
| Michigan | $838 | $70 |
| Minnesota | $591 | $49 |
| Missouri | $622 | $52 |
| Mississippi | $824 | $69 |
| Montana | $549 | $46 |
| North Carolina | $874 | $73 |
| North Dakota | $410 | $34 |
| Nebraska | $579 | $48 |
| New Hampshire | $579 | $48 |
| New Jersey | $532 | $44 |
| New Mexico | $392 | $33 |
| Nevada | $793 | $66 |
| New York | $697 | $58 |
| Ohio | $621 | $52 |
| Oklahoma | $767 | $64 |
| Oregon | $640 | $53 |
| Pennsylvania | $761 | $63 |
| Rhode Island | $604 | $50 |
| South Carolina | $655 | $55 |
| South Dakota | $436 | $36 |
| Tennessee | $674 | $56 |
| Texas | $1,043 | $87 |
| Utah | $780 | $65 |
| Virginia | $655 | $55 |
| Vermont | $294 | $25 |
| Washington | $672 | $56 |
| Wisconsin | $586 | $49 |
| West Virginia | $392 | $33 |
| Wyoming | $289 | $24 |
*Some state rates will vary based on the addition of a hurricane deductible and may be much higher when included.
How to compare condo insurance companies
There are three main metrics on which you should compare condo insurance companies:
- Rates. You shouldn't overpay for good coverage, and with rates on the rise, finding coverage you can afford takes some comparison. Gather quotes from three to five insurers to compare before you buy.
- Coverage. You should decide what coverage you need and the extra options you'd like to add, and request all of your quotes at those levels and with those extras. Note any extra coverage one company offers that another doesn't, or even if extra coverage or higher limits are standard with one company.
- Reputation. The cheapest rate does you no good when you file a claim and run into hassles. Research each company's reputation for customer service and claims, as well as their financial stability. There's a good reason we include these factors in our rankings.
What you should consider before buying condo insurance
Mortgage lenders will typically require you to have condo insurance coverage as long as you’re paying off the loan. However, you don’t want to end up paying for more coverage than you need.
- Start by reviewing what’s covered in your homeowners association's master policy. Your HOA insurance policy covers shared areas and the building structure. Coverage varies depending on what's covered inside your unit.
- Knowing how much condo insurance you’ll need requires an estimate of the value of your items. Do a rough tally of your personal property, as well as the cost of the materials and improvements. For example, take into account the quality and cost of your kitchen cabinets, the type of flooring and any upgrades to your bathrooms.
- As with all types of insurance, shop around for the best value. You may find that the same limit or identical amount of coverage can vary significantly in price from one carrier to another. Get insurance quotes from at least three providers.
- When shopping for a condo insurance policy, don’t forget to take advantage of carrier discounts such as bundling condo and auto insurance or adding a home security system for extra savings.
Methodology
We partnered with Quadrant Information Services to field condo insurance rates across all 50 states and Washington, D.C. Averages are based on:
- Good credit
- $60,000 in personal property coverage
- $300,000 in liability coverage
- $1,000 deductible
In addition to rates, the best condo insurance companies were ranked based on:
- Our annual survey of insurance customers
- The National Association of Insurance Commissioners (NAIC) Complaint Index
- AM Best financial stability ratings
Learn more about our data and methodology.
Frequently asked questions
What is covered under condominium insurance?
Similar to a homeowners insurance policy, standard condo insurance coverage provides you with several types of coverage:
- Personal belongings or personal property coverage: Your condo’s contents, so coverage for your personal belongings
- Interior damage: Damages to systems and building materials such as plumbing, electrical and walls
- Homeowners association's master policy coverage limits: Pays for damages over the HOA’s master policy limit
- Loss of use coverage or additional living expenses: Covers housing and living expenses if you’re forced to temporarily move out
- Personal liability: Liability coverage provides financial protection in case a guest is injured on your property
What company has the cheapest condo insurance?
State Farm has the cheapest condo insurance on average at $470 a year among the national carriers we compared.
Do I need homeowners insurance for a condo?
Home lenders will typically require you to have insurance coverage for your condo. While a homeowners insurance policy is similar, condo insurance is designed specifically for condo owners. Nearly all homeowners insurance companies also offer condo insurance policies.
How much condominium insurance coverage do I need?
How much condo coverage you need depends on the type of policy your HOA has as well as how much coverage you need for personal property. Take the time to understand what your HOA covers and make a full inventory of your belongings.
Add earthquake or flood insurance if you live in an area prone to either natural disaster. You can also add sewer backup coverage if you don't want to assume the risk yourself.
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