Quick Facts: Condo vs Homeowners Insurance
Condo Insurance (HO6)
Covers unit interior, personal property, improvements, and liability. Building structure covered by HOA master policy. Costs $200-$600/year in Orlando.
Homeowners Insurance (HO3)
Covers entire home including structure, interior, personal property, and liability. You own the building. Costs $2,300-$2,600/year in Orlando.
Which Orlando Policy Do You Need?
Own a Condo (Walls-In)
Downtown 32801 high-rises, Baldwin Park 32814, and MetroWest 32835 units
HO6Covers interior finishes, personal property, loss assessments, and liability.
Own the Entire Structure
Townhomes without HOA roofs, single-family homes in 32828/32832
HO3Dwelling, roof, other structures, contents, ALE, and liability in one policy.
Rent Out Your Condo
Airbnb/VRBO hosts near 32819 attractions or downtown corporate rentals
DP-3Landlord policy covering the unit, liability, and loss of rent—pair with STR endorsements.
Orlando Cost Snapshot
$400
Annual average for 32801 Midtown condos$2,400
Annual average for 32828 single-family homes- HO3 includes roof + structure
- Higher hurricane deductibles
- Wind + flood riders
Key Differences: Condo vs Homeowners Insurance
Understanding what each policy covers and what's excluded is critical for Orlando property owners.
| Coverage Type | Condo Insurance (HO6) | Homeowners Insurance (HO3) |
|---|---|---|
| Building Structure | Not covered (HOA covers) | Fully covered |
| Unit Interior | Covered (walls-in) | Covered |
| Personal Property | Covered | Covered |
| Improvements/Upgrades | Covered | Covered |
| Liability Coverage | Covered | Covered |
| Loss of Use | Covered | Covered |
| Average Annual Cost (Orlando) | $200-$600 | $2,300-$2,600 |
Need HO6 Help for Your ZIP?
Condo towers in 32801 and 32819 have different master policies than Lake Nona 32828 units. Enter your ZIP to match with the right coverage.
What Condo Insurance (HO6) Covers
Understanding what your HO6 policy covers and what your HOA master policy covers.
HO6 Covers (Your Policy)
- Unit interior: Walls, floors, ceilings inside your unit
- Personal property: Furniture, electronics, clothing, appliances
- Improvements: Upgrades you made (new floors, cabinets, fixtures)
- Liability: If someone is injured in your unit
- Loss of use: Temporary housing if unit is uninhabitable
- Additional living expenses: Hotel, meals during repairs
HOA Master Policy Covers
- Building structure: Exterior walls, roof, foundation
- Common areas: Hallways, elevators, lobbies, pools
- Shared systems: HVAC, plumbing, electrical (building-wide)
- Liability: Common area injuries
- Property damage: Damage to building structure
Bare Walls / Walls-Out
HOA insures only the building shell (structure + common areas). Your HO6 must include drywall, fixtures, flooring, cabinets.
Single Entity / Studs-In
HOA covers original interior finishes. Owners insure upgrades + personal property.
All-In / All Inclusive
HOA covers most fixtures, but owners still cover contents, liability, loss assessment. Review bylaws before setting HO6 limits.
Example: Water Leak in Orlando Condo
- Scenario: Pipe bursts in unit above, damages your ceiling and floors
- HOA covers: Building structure (pipes, walls between units)
- Your HO6 covers: Your damaged ceiling, floors, furniture, and temporary housing
- Gap: If HOA master policy has high deductible, you may be assessed for your share
- Solution: Consider loss assessment coverage in your HO6 policy
Loss Assessment Coverage (Orlando Reality)
Most Orlando HOAs now carry $5,000–$25,000 wind/hurricane deductibles on their master policies. When a storm damages the roof or elevators, every unit owner can be billed for their share unless they have loss assessment coverage.
How It Works
- Storm hits 32801 tower → HOA files claim
- HOA deductible = $15,000 → divided among 75 owners
- Each owner pays $200 unless HO6 pays via loss assessment endorsement
What to Buy
- Loss assessment limit equal to HOA deductible (often $10k–$25k)
- Ensure your policy covers special assessments for property damage AND liability
- High-rise HOAs near 32819/32789 sometimes require $50k limits
Tip: Ask your HOA for the latest master policy summary every renewal. Hand it to your agent so your HO6 limits match real exposure.
Condo Insurance Costs in Orlando
Understanding what affects condo insurance premiums and how to save money.
Basic Coverage
$200-$400/year
Standard HO6 policy with $50,000-$100,000 dwelling coverage, $25,000-$50,000 personal property, $100,000 liability. Typical for smaller condos in Orlando.
Standard Coverage
$400-$600/year
Comprehensive HO6 with $100,000-$200,000 dwelling, $50,000-$100,000 personal property, $300,000 liability, loss assessment coverage. Most common in Orlando.
Premium Coverage
$600-$1,200/year
High-end HO6 with $200,000+ dwelling, $100,000+ personal property, $500,000+ liability, high loss assessment limits. For luxury condos in downtown Orlando or Lake Nona.
Factors Affecting Condo Insurance Costs
- Location: ZIP codes 32801, 32803 (downtown) may cost more due to higher risk
- Coverage limits: Higher dwelling/personal property limits = higher premiums
- Deductible: Higher deductible ($1,000-$2,500) lowers premium
- HOA master policy: "Bare walls" coverage may require higher HO6 limits
- Building age: Older condos may cost more to insure
- Claims history: Previous claims increase premiums
ZIP-Level Trends
- 32801 / 32803: Older pipes + valet garages push HO6 premiums closer to $600.
- 32819: Luxury towers near attractions carry larger HOA deductibles—budget for higher loss assessment limits.
- 32828 / 32832: Newer Lake Nona/Avalon Park builds with updated sprinklers often land in the $250–$400 range.
- 32789: Historic Winter Park condos require higher improvement coverage for custom finishes.
Hurricane Deductibles Still Apply
Even though the HOA carries the master policy, your HO6 will list a hurricane deductible (usually a flat $500–$2,500). That deductible applies to personal property, loss of use, and loss assessment claims. Review the options in our hurricane deductible guide so you know which percentage or flat amount to select.
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Do You Need Condo Insurance?
Understanding when condo insurance is required and when it's recommended.
Condo Insurance is Required If:
- You have a mortgage—lenders require HO6 insurance
- Your HOA bylaws require unit owners to carry insurance
- You're renting out your condo—landlord insurance may be required
Condo Insurance is Recommended If:
- You own your condo outright—protect your investment
- You have valuable personal property or improvements
- You want liability protection for guests or accidents
- Your HOA master policy has high deductibles (loss assessment coverage handles the risk)
- You want loss of use coverage for temporary housing
Example: Orlando Condo Owner
- Unit value: $250,000
- Personal property: $75,000
- Improvements: $30,000 (new kitchen, floors)
- Recommended HO6 coverage: $105,000 dwelling, $75,000 personal property, $300,000 liability
- Estimated annual cost: $450-$550/year
- Without insurance: Risk losing $180,000+ in assets if disaster strikes
Example: Windstorm Loss Assessment
- Scenario: Summer thunderstorm damages the roof of a 32803 Midtown condo.
- HOA deductible: $500,000 wind deductible → HOA bills each of the 200 owners $2,500.
- Your HO6 pays: Loss assessment endorsement covers the full $2,500 once your $500 hurricane deductible is met.
- Without coverage: You write a $2,500 check out of pocket—common after 2022–2023 storms.
Short-Term Rental (Airbnb/VRBO) Guidance
Orlando’s tourism market means many condo owners rent nightly near 32819 attractions or downtown venues. Standard HO6 or HO3 policies often exclude business use.
- Ask for a DP-3 landlord endorsement or dedicated short-term rental rider.
- Confirm your HOA allows transient rentals—some require minimum lease terms.
- Add commercial liability if guests have access to pools, gyms, or shared rooftops.
Frequently Asked Questions
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