If something unexpected happens to your home, you need to know you’re covered by your homeowner’s insurance policy. If you live in a high-rise condo, coverage is split between two layers: the association’s master policy insures the building and common areas, while your own HO‑6 (condo) policy insures the interior of your unit, your belongings, and your liability. Furnishings are typically covered under HO‑6 personal property, but your car, even if parked on premises, is insured under your auto policy. Coastal and other catastrophe‑exposed markets are seeing higher premiums and deductibles due to elevated disaster losses — the U.S. set a record with 28 separate billion‑dollar weather and climate disasters in 2023, which continues to influence 2025 pricing and terms (NOAA).
To understand high-rise condo (or HO-6) insurance in 2025, and so you can sleep at night, we’ve organized the essentials using current market data: how HO‑6 works alongside your association’s master policy, what’s covered and excluded, how much to budget, and which regulatory changes may affect your coverage and deductibles (USI 2025 Outlook; Marsh Insurance Market Index).
[ Read: The Best Homeowners Insurance Companies ]
What Does House Insurance Cover?
Generally, homeowner insurance protects your dwelling, belongings, and personal liability. For condo unit owners, the HO‑6 policy covers the interior “walls‑in” components you’re responsible for, your contents, loss of use, personal liability, and loss assessment. Standard forms exclude flood and earthquake unless purchased separately; understanding named‑storm/wind deductibles is also important in coastal areas (NAIC consumer guide; Insurance Information Institute; III wind/hurricane deductibles; FEMA FloodSmart).
At a glance, homeowner’s insurance covers:
- Your residence (full dwelling for a homeowner policy; the interior of your condo unit under an HO‑6)
- Personal property
- Damage to another person’s property and liability for injuries
- Any other structures on the property (applies to standalone homeowners policies)
[ Read: Homeowners Insurance Buyer’s Guide ]
Does House Insurance Cover Damage to High-Rise Condos?
High‑rise or not, condos are insured through two coordinated policies. The association’s master policy insures the building’s structure and common elements; your HO‑6 insures interior finishes you’re responsible for, your belongings, additional living expenses if the unit is uninhabitable after a covered loss, your personal liability, and loss assessment. Which interior items you must insure depends on whether the master policy is “bare‑walls” (you insure most interior finishes) or “all‑in/single‑entity” (the association insures original interior finishes). Lenders may also require specific HO‑6 coverage amounts when the master policy is not all‑in; for conventional loans, Fannie Mae specifies minimum HO‑6 coverage when interior elements aren’t covered by the association.
Underwriting for high‑rises is also influenced by building safety and maintenance regimes. In Florida, milestone structural inspections and Structural Integrity Reserve Studies (SIRS) are being enforced for condominiums three stories or higher, and carriers increasingly request current reports and funded reserves as part of renewal underwriting (Florida DBPR).
What is Included in These Policies?
Condo insurance (HO‑6) generally helps pay to repair your unit’s interior and your personal belongings for covered perils like fire, wind, or theft, and provides personal liability and additional living expense coverage. Your association’s master policy insures the building shell and shared areas; aligning both policies prevents gaps (Insurance Information Institute).
Personal Liability Coverage
If a visitor is injured and you’re legally responsible, liability coverage can help with medical costs, damaged property, and legal defense. Typical limits are selectable and can be paired with an umbrella policy for higher protection (NAIC).
House Guest Medical Coverage
If a guest is injured in your unit and you’re not at fault, guest medical coverage may pay for reasonable medical expenses, subject to policy limits (NAIC).
Building Property Protection
Also called “additions and alterations,” this covers interior fixtures and finishes you must insure (e.g., cabinets, flooring, built‑ins). The amount you need depends on whether your association is “bare‑walls” or “all‑in/single‑entity.” Review the master policy and bylaws to size this limit appropriately (Insurance Information Institute).
Personal Property Coverage
Belongings such as furniture, clothing, and electronics are covered for named perils; you can often add replacement cost coverage for contents so depreciation isn’t deducted. Sublimits apply to valuables unless scheduled separately (NAIC).
You will likely have the option to choose from different types of personal property coverage, such as actual cash value or replacement cost. Each policy includes limits and a deductible that applies before coverage kicks in. Water‑loss prevention devices (e.g., monitored leak detection/shutoff) can reduce losses and may qualify for credits (HSB IoT risk solutions).
Loss of Use Coverage
Additional living expense pays for increased costs of temporary lodging, meals, and transportation when a covered loss makes your unit uninhabitable (NAIC).
Loss Assessment Coverage
This helps pay your share of an association assessment for covered property damage or liability — often including part of the master policy deductible. Many high‑rises now carry large named‑storm or water‑damage deductibles; it’s common to increase the HO‑6 loss‑assessment limit to match potential assessments (e.g., named‑storm deductibles of 2%–5% of building value). For a $50 million tower, a 2% named‑storm deductible equals $1 million; if shared equally among 200 units, that’s $5,000 per unit before any other costs (USI 2025 Outlook; Community Associations Institute).
What’s Not Included in These Policies?
Most condo associations insure the building with either “bare‑walls” or “all‑in/single‑entity” master policies; your HO‑6 covers what the master does not inside your unit. Standard condo and homeowners policies exclude flood and earthquake unless you buy separate coverage; peril‑specific deductibles (such as hurricane/wind) also apply in many coastal states. Carriers are increasingly applying higher named‑storm percentage deductibles, separate water‑damage deductibles, and stricter terms for secondary perils in 2025 (FEMA condominium flood guidance; III hurricane/wind deductibles; USI 2025 Outlook; Marsh).
Bare walls
Bare‑walls coverage insures the structure and common systems through unfinished drywall. Interior paint, flooring, cabinetry, countertops, and fixtures inside the unit are generally the unit owner’s responsibility via the HO‑6 (Insurance Information Institute).
Walls-in
Walls‑in (single‑entity/all‑in) coverage insures original interior finishes as built; owners typically insure upgrades/improvements and contents under their HO‑6 (Insurance Information Institute).
The condo’s HOA insurance covers common areas (lobbies, amenities) and exterior elements and provides liability coverage for injuries in shared spaces. Master programs often bundle property with liability, umbrella/excess, D&O, crime/fidelity, equipment breakdown, and may layer in flood and earthquake via NFIP/private markets or DIC programs (USI 2025 Outlook).
Most high-rise home insurance policies do not cover your automobile, even if it’s parked on- premises. Your car would be covered instead under your car insurance policy.
How much does High-Rise Condo Insurance Costs?
There are two cost layers. For unit owners, recent national data place average HO‑6 premiums in the mid‑$600s per year, with wide variation by state, metro risk, and coverage selections (NerdWallet; Insurance Information Institute). For association master policies, 2025 broker outlooks show flat to low‑single‑digit changes in many non‑catastrophe‑exposed markets, while double‑digit increases — often with higher named‑storm or water‑damage deductibles — remain common for coastal/high‑rise or loss‑challenged properties (USI 2025 Outlook; Marsh). Elevated catastrophe losses are a key driver; the U.S. logged a record number of billion‑dollar disasters in 2023, and reinsurers have maintained tighter terms since 2023, sustaining pressure on property pricing and deductibles in exposed areas (NOAA; Gallagher Re).
Your price also depends on liability and contents limits, selected deductibles, and credits. A practical 2025 planning figure for HO‑6 is about $600–$700 per year for standard limits with a $1,000 deductible, though coastal/wind‑exposed metros and high‑value interiors can be higher. You can often lower the premium by bundling auto and condo policies and installing monitored alarms or water‑leak sensors; many carriers also offer claims‑free, auto‑pay, paperless, and paid‑in‑full savings (NerdWallet; State Farm discounts; Allstate condo discounts; Travelers discounts; Nationwide discounts).
Master policy deductibles are a major part of total cost of risk. In coastal zones, named‑storm/wind deductibles of 2%–5% of building value are common, and separate water‑damage or higher all‑other‑perils deductibles may apply. Boards sometimes use deductible buy‑downs or parametric covers to reduce net exposure. Example: on a $100 million tower, a 3% named‑storm deductible equals $3 million; an assessment for that deductible may be spread among unit owners if permitted by governing documents (USI 2025 Outlook). Regional variability is significant: coastal Florida/Gulf and Southeast Atlantic towers continue to face elevated pricing and deductibles, while many inland/non‑CAT metros are seeing flat to single‑digit changes as capacity cautiously returns (Marsh).
What Other Coverage is a Good Fit For High-Rise Condo Living?
Beyond standard HO‑6, consider higher loss‑assessment limits (to match the master deductible), water backup/sump overflow, scheduled coverage for jewelry or electronics, and equipment breakdown where available. In hazard‑prone areas, separate flood (HO‑6 flood for unit owners; RCBAP for associations) and earthquake coverage are important. Associations increasingly blend NFIP’s Residential Condominium Building Association Policy (RCBAP) with private or excess flood to reach required limits and avoid NFIP’s 80% coinsurance penalties; Risk Rating 2.0 means many higher‑risk NFIP policies see phased increases, generally capped at 18% per year (FEMA NFIP Manual; FEMA Risk Rating 2.0; Milliman private flood update). Florida Citizens policyholders also face a phased flood‑insurance requirement through 2027, which includes many condo unit owners insured via Citizens (Citizens flood requirement).
For buildings facing large catastrophe deductibles, parametric hurricane/earthquake covers and deductible buy‑downs can provide fast liquidity or reduce net retentions. Underwriters are also rewarding resilience and water‑loss controls: monitored leak detection/shutoff, documented maintenance, and certifications like IBHS FORTIFIED Multifamily can improve marketability and sometimes pricing/terms (HSB IoT; Marsh).
The Bottom Line
High‑rise condo insurance relies on coordination: your HO‑6 covers interior finishes, belongings, additional living expenses, and personal liability; the HOA’s master policy covers the building’s exterior and common elements. In today’s market, plan for larger catastrophe and water‑damage deductibles on the master policy, and calibrate your HO‑6 loss‑assessment limit accordingly. Confirm how your governing documents allocate responsibility (bare‑walls vs all‑in) and whether your lender requires a minimum HO‑6 amount when the master is not all‑in (Fannie Mae; Insurance Information Institute).
Costs vary widely by state/metro and peril exposure. Non‑CAT areas are seeing flat to modest changes in 2025, while coastal/CAT‑exposed markets continue to face higher premiums and percentage deductibles. Flood remains excluded without a separate policy; NFIP RCBAP rules (including the 80% coinsurance requirement) and Florida’s SIRS regime and Citizens flood mandate are central considerations for many high‑rises (FEMA NFIP Manual; Florida DBPR; Citizens flood requirement).
Photo by Carline Teteris / GettyImages
