Condo Insurance Calculator

A bare walls-in master policy means the HOA's building-wide insurance only covers the building's original unfinished structure, so the unit owner's own HO-6 policy has to cover everything installed inside — flooring, cabinets, fixtures, and any upgrades — which this calculator estimates at 40% of the unit's value. An all-in (or single-entity) master policy means the HOA's coverage already extends to built-in fixtures and standard finishes, so the owner only needs to insure improvements beyond what came with the unit, estimated here at 10% of unit value.

Because the gap between a bare walls-in and an all-in master policy changes this calculator's recommended interior coverage by a factor of four for the same condo value, getting it wrong in either direction either leaves you underinsured after a covered loss or has you paying for coverage you don't need. Your HOA or condo association should be able to provide the master policy's declarations page or a summary of what it covers — read it before finalizing your own HO-6 policy's walls-in coverage limit.

Loss assessment coverage reimburses you if your HOA levies a special assessment on all unit owners to cover a shared loss that exceeds the master policy's limits, such as major storm damage to the building's exterior or a liability judgment against the association. Because these assessments are billed to individual owners regardless of whether their own unit was directly damaged, this coverage protects you from an unexpected large bill triggered by damage elsewhere in the building.

No — Liability Coverage is a completely separate limit from Interior/Walls-In Coverage and Personal Property Coverage in this calculator; it only affects the premium itself, and only once it reaches $500,000, where it applies a modest rate increase to reflect the insurer's larger liability exposure. Increasing liability coverage protects you against lawsuits or injury claims from guests or neighbors, which is a different risk than replacing your own unit's interior or belongings after a covered loss.