PERSONAL INSURANCE
Condo Insurance (HO-6)
Your association's master policy stops at your walls, and sometimes before them. An HO-6 policy covers everything the master policy leaves to you: your interior, your belongings, your liability, and the special assessments that catch condo owners off guard. We match your policy to your association's actual documents, across 20+ carriers.
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Quick Answer: Condo insurance, written as an HO-6 policy, covers what your association's master policy does not: your unit's interior (floors, cabinets, fixtures, improvements), your personal property, your personal liability, loss of use if the unit becomes unlivable, and loss assessment coverage for your share of association claims. In Illinois it commonly costs $400 to $900 a year. How much interior coverage you need depends entirely on whether your association's master policy is written bare walls, single entity, or all-in.
The most misunderstood line in condo ownership is where the association's insurance ends and yours begins. That line is not a guess; it is written in your declarations and bylaws, and it varies building to building. Some master policies rebuild your unit to the original finishes; some hand you back bare drywall; some hand you back bare studs. Owners who never check simply pick a number for interior coverage, and the error shows up after a fire or a burst pipe upstairs. We read the association documents and set your HO-6 to match, which is the entire point of having an independent agent do this instead of an 800 number.
What Condo Insurance Covers
Interior & Improvements
Flooring, cabinets, countertops, fixtures, and any upgrades you or prior owners made, the part of the building that is yours to insure.
Personal Property
Furniture, electronics, and clothing against fire, theft, and water damage from covered events. High-value jewelry gets scheduled separately.
Loss Assessment
Your share when the association assesses owners after a large claim or to cover the master policy deductible. The cheapest coverage on the policy and the one most owners skip.
Liability & Loss of Use
A guest injury or water damage you cause to the unit below, plus hotel and living costs if a covered loss makes your unit unlivable.
Bare Walls, Single Entity, or All-In: Read the Master Policy First
How much interior coverage you need is set by the association's master policy type. Bare walls: the association rebuilds the structure only; everything from the drywall in, floors, cabinets, fixtures, is on your HO-6, often $50,000+ of exposure. Single entity: the master policy includes original builder-grade finishes; you insure upgrades. All-in: the master policy covers most of the interior; your HO-6 carries less dwelling coverage and the savings go toward loss assessment and contents. We pull this from your declarations and bylaws and set the number precisely instead of guessing.
On your association's board? The master policy itself is commercial coverage we also write: see condo association insurance.
Loss Assessment: The $80 Coverage That Saves You $20,000
Master policy deductibles have climbed sharply, especially for water and hail, and associations pass big claims to owners as special assessments. If your building takes a $500,000 hail loss with a $100,000 deductible split among 20 units, that is $5,000 per owner, and after a major fire or liability judgment it can be far more. Loss assessment coverage picks up your share for covered perils, typically costs well under $100 a year to raise to $25,000 or $50,000, and is the single best value on an HO-6. We set it based on your building's deductible structure, not a default.
What Condo Insurance Costs in Illinois
| Profile | Typical annual premium |
|---|---|
| Typical Illinois condo (all-in or single entity master) | $400 to $700 |
| Chicago high-rise or bare-walls master policy | $600 to $1,200 |
| Luxury or high-value unit with scheduled items | $1,200+, or written in a private client program |
Estimates only; premium depends on interior coverage needed, building type, location, deductible, and claims history, and is confirmed by a licensed advisor.
What Our Clients Say
Condo Insurance FAQ
What is HO-6 insurance?
HO-6 is the policy form written for condo and co-op unit owners. It covers the unit's interior, personal property, liability, loss of use, and loss assessments, everything the association's master policy leaves to the individual owner.
What does condo insurance cover?
Interior finishes and improvements, your belongings, personal liability, additional living expenses if the unit is unlivable after a covered loss, and your share of association assessments. The building's exterior and common areas are the master policy's job.
How much does condo insurance cost?
In Illinois, commonly $400 to $900 a year, roughly $35 to $75 a month. Bare-walls buildings and Chicago high-rises run higher because the owner insures more of the interior. The same unit varies meaningfully between carriers, which is why we quote 20+.
What is loss assessment coverage?
Coverage for your share when the association bills owners after a covered loss, including its master policy deductible. Assessments of several thousand dollars per unit are common after hail or water losses, and raising this limit usually costs under $100 a year.
How much dwelling coverage do I need on an HO-6?
It depends on the master policy: bare walls means you insure everything from drywall in and often need $50,000 or more; all-in means far less. The answer is in your association's declarations and bylaws, and we read them before setting the number.
Is condo insurance required?
Illinois does not mandate it, but mortgage lenders require it and most association bylaws require owners to carry an HO-6 at specified minimums. Even without a mortgage, going bare on a bare-walls building is a five-figure gamble.
Your Master Policy Has a Line. We Will Find It.
Send us your association's declarations page and we will set your HO-6 to match it exactly, then quote it across 20+ carriers. Most condo owners are surprised in one direction or the other.
Get My Condo QuoteReviewed by Dave Rysavy, Personal Lines Advisor
Dave leads personal lines at Pro Insurance Group and matches HO-6 policies to association documents for condo owners across Illinois, from Huntley to the Chicago high-rises.