Condo Association Insurance: Master Policy vs. HO-6 Explained
Condo insurance confuses almost everyone because it’s not one policy — it’s two, and where one stops the other is supposed to begin. Get the seam wrong and you’re exposed.
The two policies
- Association master policy — covers the common elements and building structure. Paid for through your dues.
- Your HO-6 (unit owner’s policy) — covers your belongings, improvements, liability, and the gaps the master policy leaves.
Master policy types — this decides your gap
How much of your unit’s interior the association covers depends on the policy type:
- Bare walls — structure only; almost nothing inside your unit. Your HO-6 covers the most.
- Single entity — original finishes as built, but not your upgrades.
- All-in / all-inclusive — covers more, including some fixtures.
Ask your association which type it carries — it directly sets how much HO-6 coverage you need.
What your HO-6 must cover
- Personal property (furniture, clothing, electronics)
- Improvements & betterments (your renovations)
- Personal liability and loss of use
- Loss assessment — your share when the association passes through a deductible or a special assessment
Why premiums are climbing
A hard insurance market — catastrophe losses, reinsurance costs, and aging buildings — has pushed master-policy premiums and deductibles up sharply. That flows into higher dues and, in some cases, mid-year assessments. In Florida, insurance is one of the forces behind the 2026 condo cost crunch.
What to do
- Get your master policy’s declarations page and note its type and deductible.
- Match your HO-6 to fill the gap, with adequate loss assessment limits.
- Revisit annually — coverage and deductibles are changing fast.
- For a complex building or a big claim, work with an agent who knows community-association coverage.
Frequently asked questions
What does a condo association master policy cover?
It covers the common elements and building structure, and — depending on its type — some or none of your unit's interior finishes. A 'bare walls' policy covers little inside the unit; 'single entity' covers original finishes; 'all-in' covers more, including some fixtures. Read your association's policy type to know where your HO-6 must pick up.
Do I need my own insurance if the HOA has a master policy?
Yes. The master policy doesn't cover your personal belongings, your improvements, your liability, temporary living expenses, or usually your share of a deductible or special assessment. An HO-6 owner's policy is designed to fill exactly those gaps.
What is loss assessment coverage?
It's an HO-6 add-on that helps pay your share of a loss the association assesses to owners — for example, when a covered claim exceeds the master policy or its deductible is passed through. Given rising premiums and deductibles, it's an increasingly important coverage to carry at an adequate limit.
This guide is general information, not legal or financial advice. Your association's governing documents and your state's statute control — confirm specifics with a licensed professional.