Condo Insurance vs. Homeowners Insurance
Condo insurance and homeowners insurance share the same core goal—protecting your property, belongings, and liability—but they differ in how far that coverage extends. The main distinction lies in what part of the property you’re responsible for.
Condo insurance (HO6)
When you buy a condo, you generally own the interior space of your unit (often called “walls-in” coverage). The building’s exterior, roof, and shared spaces are usually covered by your homeowners association (HOA) master policy.
Key coverage elements
Interior walls, fixtures, and built-ins
Flooring (carpet, hardwood, tile, etc.)
Countertops and cabinetry
Interior plumbing and electrical systems
Personal property (your belongings)
Personal liability coverage
Additional considerations
Loss assessment coverage: If your HOA’s master policy doesn’t fully cover a shared-area loss (like roof or pool damage), you may be responsible for part of the cost. Loss assessment coverage helps pay your share of that expense.
Review your HOA’s master policy: It’s important to know whether your HOA carries a “walls-in” or “walls-out” policy—it determines how much interior coverage you personally need.
Homeowners insurance (HO3)
A standard homeowners policy covers the entire dwelling, inside and out, including any attached or detached structures. As a homeowner, you’re responsible for rebuilding or replacing the entire property if it’s damaged or destroyed.
Key coverage elements
Roof and exterior walls
Interior walls, fixtures, and finishes
Other structures (garage, fence, shed, carport)
Personal property
Personal liability coverage
Coverage comparison
While both HO6 and HO3 policies include coverage for personal property and liability, homeowners insurance covers the entire structure, while condo insurance focuses on the interior only.
| Coverage Type | Condo (HO6) | Homeowners (HO3) |
|---|---|---|
| Interior walls & fixtures | ✓ | ✓ |
| Flooring, cabinets, countertops | ✓ | ✓ |
| Plumbing & electrical (interior) | ✓ | ✓ |
| Roof & exterior walls | ✗ | ✓ |
| Other structures (garage, fence, shed) | ✗ | ✓ |
| Personal property | ✓ | ✓ |
| Liability | ✓ | ✓ |
Coverages can vary depending on your specific policy and your HOA’s master policy.
The bottom line
Understanding the difference between condo and homeowners insurance ensures you’re not under- or over-insured. If you own a condo, confirm what your HOA’s master policy covers before deciding how much “walls-in” protection you need.
At Wang Insurance, we help condo owners and homeowners find the right balance of coverage—so you’re protected exactly where your responsibility begins.
Need help reviewing your HOA’s policy or checking your coverage? Contact us today for a personalized review.
