Best Condo Insurance for 2026
Amica is best overall, but State Farm can be cheaper
Advertising Disclosures
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- Good prices, service and coverage make Amica the best condo insurance company.
- HO-6 condo insurance, the homeowners policy for condo and co-op owners, costs an average of $1,289 a year, or $107 a month.
- Checking for qualifying discounts can help you save on your monthly costs.
Best condo insurance companies
Amica stands out as the best condo insurance company overall for its affordability and customer service. It has an excellent complaint rating from the National Association of Insurance Commissioners (NAIC)
State Farm, Travelers and USAA stand out for other reasons, such as cheap rates and bundling opportunities.
Best overall: Amica
Average annual rate: $1,094
Why we chose it: Amica’s 0.2 NAIC rating means it gets 80% fewer complaints than average, which is a sign of good customer service. It also offers affordable rates and flexible coverage options, such as enhanced protections for your electronic devices.
Who it’s best for: Amica is best for condo owners who value service and coverage over price. Amica’s excellent complaint score indicates that most customers are happy with the company.
Amica also offers an optional upgrade to replacement cost coverage for your belongings. This pays to replace damaged or stolen belongings without deductions for each item’s age and wear.
PROS
- Charges 18% less than average
- Excellent NAIC complaint rating
- Extra coverage available for electronic devices
CONS
- State Farm has cheaper rates
- Expensive car insurance makes it less affordable for bundlers
Best for cheap rates: State Farm
Average annual rate: $1,018
Why we chose it: At $1,018 a year, State Farm has the cheapest condo insurance among major companies. This is 21% less than the average cost of HO-6 insurance, the type of homeowners policies designed for condominium and co-op units.
Who it’s best for: State Farm is best for budget-minded insurance shoppers. Its low rates make it worth contacting for a quote. However, it gets 40% more complaints than average, according to the NAIC. The company offers most normal condo insurance protections but few extras. This may be a problem if you need or want more coverage options.
PROS
- Rates are 21% lower than average
- Online quotes let you shop on your own
- Local agents available for personalized service
CONS
- Bad NAIC complaint rating
- Limited add-on protections
Best for bundling: Travelers
Average annual rate: $1,394
Why we chose it: Travelers has the cheapest car insurance among major companies, so its low car insurance rates can offset its slightly higher-than-average condo insurance rates. That makes it the best choice for bundling your condo and auto policies.
Who it’s best for: Travelers is best for those who want to buy their condo and auto insurance policies from the same company. State Farm also has cheap condo and car insurance rates, but Travelers has a better complaint score, which puts it ahead.
Unlike State Farm and Amica, Travelers works with independent insurance agents
PROS
- Cheap car insurance makes bundling affordable
- Good NAIC complaint score
- Independent agents can help you comparison shop
CONS
- Condo rates are 8% higher than average
- Amica has a better complaint score
Best for military families: USAA
Average annual rate: $963
Why we chose it: When it comes to affordability, service and coverage, USAA checks all the boxes. It’s cheaper than State Farm, and its complaint score is better than most other companies. This makes it good to get a quote from USAA if you meet its eligibility requirements
Who it’s best for: USAA is good for DIY insurance shoppers who want to get quotes online or by phone. However, you usually don’t regularly work with the same agent like you do with some other companies. This can be a problem if you prefer personalized service from a single agent.
PROS
- Condo rates are 25% less than the average
- Excellent NAIC complaint rating
- Replacement cost coverage for your belongings is standard
CONS
- Less personalized agent service than other companies
- Primarily only available to the military community and their families
Compare condo insurance company rates and ratings
| Company | Annual rate* | LendingTree score | Complaint rating | |
|---|---|---|---|---|
| State Farm | $1,018 | 4/5 | 1.4 |
| Amica | $1,094 |  5/5 | 0.2 |
 | Nationwide | $1,218 | 3.5/5 | 1.2 |
| Travelers | $1,394 | 3.5/5 | 0.7 |
 | Liberty Mutual | $1,465 | 4/5 | 0.9 |
 | AAA | $1,557 |  2/5 | 2.0 |
 | Farmers | $1,606 | 3.5/5 | 0.7 |
| USAA* | $963 | 4/5 | 0.5 |
Each company’s rates vary by customer, so your rates may different from those shown here. It’s good to compare condo insurance quotes from a few companies to find the best deal for your situation.
What is HO-6 condo insurance?
An HO-6 policy is homeowners insurance for condominium and co-op units. It covers:
- Property damage to your unit
- Your personal belongings from damage or theft
- Your liability for injuries or damage you unintentionally cause to others
- Medical treatment for an injured guest
Most condo and co-op complexes have a master policy. These cover building exteriors and shared areas like hallways and rec rooms, but not individual units. An HO-6 policy essentially picks up where your building’s master policy leaves off.
Most home insurance companies offer quotes for HO-6 condo insurance.
How much condo insurance do I need?
The amount of insurance you need for your condo unit depends on a few factors. Your building’s master policy helps determine how much coverage you need for damage to your unit.
Your other coverages depend on the value of your belongings and financial situation.
Getting the right amount of coverage for your unit
Your building’s master policy affects how much building property coverage you need for your unit. Since these vary, you should ask your condo or co-op board how your master policy works.
The most common master policies include:
Bare walls coverage
Most master policies only cover damage outside the bare walls of your unit. These leave you responsible for fixtures and furnishings inside your unit. This usually includes wall coverings and flooring, plus attached fixtures and furnishings.
Original specifications
An original specifications master policy pays to restore your unit to its condition when it was first built. With these, you’re responsible for structural alterations and improvements made since then. These include renovations by a prior owner.
All-in master policies
All-in master policies cover most fixtures and furnishings in your unit, including improvements. These are rare. These only require you to get a low amount of building property coverage.
Knowing what your master policy covers helps you figure out how much building property coverage you need. Most insurance companies can help you estimate this amount, based on your unit’s features.
How much personal property insurance do I need?
Your personal property limit should match the combined value of your belongings. These include your furniture, clothing, electronics, recreational gear and plug-in appliances like a refrigerator and microwave oven.
You can get an accurate estimate by creating a home inventory if you don’t already have one. Start by creating a list of your possessions, their purchase price and their current estimated value. Then add up the total value of each item.
Bear in mind that standard condo insurance only provides limited coverage for valuables like jewelry. However, most companies offer add-on coverage that gives items like these more protection.
What other insurance coverage do I need for my condo?
The rest of the standard coverages in a condo insurance quote are usually offered in default amounts, but you can often adjust these. These coverages include:
-
Loss of use
Helps cover temporary housing costs if you move into a hotel or apartment while your unit is being repaired or rebuilt.
-
Personal liability
Liability covers injuries to other people and damage to their property. It does not cover your own injuries or property damage.
-
Guest medical payments
Covers medical treatment for a guest injured on your property, regardless of fault.
-
Loss assessment
Covers assessments created to repair common areas damaged by covered causes like a fire or windstorm. It can also cover assessments over liability claims.
Of these, your liability limit is the most important one to focus on. Condo insurance often comes with $100,000 in liability coverage. This may not be enough when you own a condo unit.
If the amount you owe an injured person exceeds your liability limit, you are personally responsible for the shortfall. Choosing a higher liability limit can protect you from a potential debt like this.
Useful condo insurance add-ons
In addition to these standard coverages, some add-on condo insurance protections are worth considering.
-
Scheduled personal property coverage
Provides greater coverage for valuable belongings that are worth more than your personal property limits.
is a good way to protect valuables like jewelry. Without it, your policy may only cover these items for about $1,500 or so. -
Electronics coverage
can come in handy if you don’t already have protection plans for your devices. However, you may need commercial insurance instead if you use your devices for business purposes. -
Water backup coverage
pays for cleanup and repairs from a sewer or drainage failure. These types of backups usually aren’t otherwise covered by standard condo policies.
How to save on condo insurance
Shopping around for quotes and searching for discounts are good ways to save money on condo insurance.
Each company uses a different system to set your rates. Comparing quotes from multiple companies is a good way to find the cheapest rate.
Best condo insurance discounts
The various discounts that condo insurance companies offer can add up to significant savings. Most companies give a big discount for bundling your condo insurance with another policy like car insurance. You can often also get discounts for:
Protective devices
Companies often give small discounts just for having deadbolt locks and smoke detectors. Installing monitored security systems or smartphone-linked detection systems can often help you save even more.
Recent homebuyers
Some companies like Travelers will give you a discount if you’ve purchased your unit within the past year.
Loss or claim-free
Companies will often give you another discount if you haven’t had any insurance claims within the past few years.
Green home
Travelers has a discount for condo owners with LEED-certified “green homes.”
Payment discounts
Paying in full for your policy upfront can often save you a little money. Many insurance companies also offer discounts for setting up auto-pay and/or switching to paperless billing.
| Discount | Amica | State Farm | Travelers | USAA |
|---|---|---|---|---|
| Bundle | ||||
| Protective devices | ||||
| Loss or claim- free | ||||
| Preferred payment | ||||
| Green home |
The availability and terms of these and other discounts vary by company and state.
Frequently asked questions
“Walls-in” usually refers to insurance that covers structural damage for anything inside your condo unit. This usually includes floor and wall coverings, built-in appliances, and other attached fixtures.
Building property coverage pays to repair structural damage within your unit. It’s separate from personal property coverage, which covers your belongings for theft or damage.
If your townhouse is part of a complex with a master policy, you may only need a condo policy. If there isn’t a master policy, you usually need standard homeowners insurance. You can ask your townhome association about its master policy to find out what you need.
Methodology
How LendingTree gets condo insurance rates
Condo insurance rates are based on public filings obtained from the insurance commissioners’ offices in California and Texas. These states were chosen because both have robust insurance markets with rates that are close to national averages.
Quotes were obtained for policies with $100,000 in building property coverage for typical buyers with no recent insurance claims.
How we evaluated insurance companies
Our team of insurance experts rated insurance companies basic rates, discounts, coverage options and third-party customer service ratings. We also evaluated the digital experience each company provides on its website and smartphone app. We then weighted these categories based on what customers value in an insurance company.
Third-party ratings services include the National Association of Insurance Commissioners (NAIC) and AM Best. NAIC’s complaint ratings show how often companies are found at fault over customer complaints for things like claims. Financial ratings from AM Best are good indicators of how well a company is run and its ability to pay claims.
**USAA is available to current and former members of the military as well as spouses and children of USAA members.
See our editorial guidelines and home insurance rating methodology for more details.