Condo/Coop Unit Insurance

Protect Your Unit, Your Belongings, and Your Peace of Mind

Whether you live in a condominium or a cooperative apartment, understanding insurance coverage is essential. At Blue Rock Insurance Services, we provide customized condo insurance and co-op insurance solutions. Our plans are designed to cover gaps left by your association’s master policy. This ensures you are protected from the inside out in NY, NJ, CT, PA, and MA.

What Is Condo vs. Co-Op Insurance?

Condo Insurance (HO-6 Policy)

  • This policy covers your unit's interior structure, including walls, flooring, and built-ins. It also protects your personal belongings and provides liability coverage for injuries or property damage within your unit.

  • Above and beyond what the master policy covers.

Co-Op Insurance

  • You own shares in the corporation, not the unit itself. Therefore, you need insurance for your personal property, the unit’s interior, and liability. Similar to condo insurance, this is not a separate policy type.

What Does the Master Policy Usually Cover?

Your building’s master policy is usually funded through HOA or co-op fees. This policy typically covers the exterior and common areas. These include shared walls, hallways, elevators, roofing, and HVAC systems. But in many cases, it doesn’t include improvements or personal upgrades inside your unit.

Mother and her daugther enjoying their happy moment in  their bedroom. Condo and Co-Op Insurance is important to keep them safe from the risks.
A man in a white t-shirt and beige pants talking to two hotel concierge in uniform at  the condo front desk. They give the unit owner advise  of buying condo unit owners insurance.

Did You Know?

  • Many property management companies and Condo/Coop associations also require property and liability coverage for Condo/Coop units and apartments. It makes sense to be proactive and get coverage at a price you can afford

  • Homeowner policies typically cover damages from fire, lightning, hail, theft, freezing, windstorms, vandalism, and riots. They also protect against accidental water discharge or overflow from plumbing, heating, or air systems. Additionally, other specific risks may be included in the policy

Why You Need Your Own Insurance?

Even if your building has a master policy, it may not cover your improvements, personal belongings, or liability inside your unit. Here’s why having your own policy matters:

Coverage Type Why You Need It?
Interior Additions & Upgrades Master policies may only cover “bare walls.” Your improvements—like new countertops or cabinetry—need separate protection.
Personal Property Master policy doesn't cover your personal items in case of theft, fire, or water damage.
Liability Inside Unit Covers accidents or injury claims made right inside your unit.
Loss Assessment If a common area loss exceeds the building’s master policy limit, your policy can cover your share.

Key Takeaway: Your own condo or co-op insurance policy protects your unit improvements, personal belongings, and provides liability coverage, filling any gaps left by the building’s master policy.

Condo / Co-Op vs. Homeowners Insurance

  • Homeowners Insurance (for houses) covers the entire structure, land, and contents.

  • Condo/Co-Op Insurance primarily covers what is inside your unit only. It usually costs about 30-70% of a standalone home policy.

A group of women enjoying a dinner party in a well-lit living room, with one woman smiling and eating while others converse. They were talking about where to get the condo  & co-op insurance cost rising.

Additional Coverage Options You Should Consider

  • Loss Assessment Coverage – Shields you when you're assessed for a common loss you’re partially responsible for.

  • Loss of Use – Covers temporary housing and expenses if your unit becomes uninhabitable.

  • Add-on Endorsements – Think flood, earthquake, or increased limits for valuables (art, jewelry, electronics) where master policies fall short.

Woman checking her own jewelry in her walk in closet, surrounded by handbags and shoes on white shelves. Itemize the valuable items on the condo insurance policy couold help maximize the protection.

How to Choose the Right Policy?

  1. Review your master policy to understand what your building is covered for versus what you need to cover.

  2. Inventory your belongings, including any upgrades, to ensure accurate coverage limits.

  3. Compare quotes based on unit-specific risk and your insurance strategy.

  4. Consult with an expert. Seek guidance from someone knowledgeable about the markets in New York, New Jersey, Connecticut, Pennsylvania, and Massachusetts. Consider reaching out to BlueRock Insurance Services. They can help you customize the right policy for your needs.

Explore the Top 5 Mistakes Condo and Co-Op Owners Make with Insurance and learn how to avoid them. Blue Rock Insurance Services highlights important information for homeowners. This information addresses coverage gaps and liability risks. It is essential for owners to understand these aspects to protect their homes and belongings. Reach out to us today for expert advice and the appropriate coverage for your condo or co-op.

Get Your Personalized Quote Today

Protect your investment and your home. Let us help you bridge the coverage gap with Condo / Co-Op Unit Owners Insurance that fits your lifestyle and location.

  • Licensed in NY, NJ, CT, PA, MA, and deeply familiar with local buildings and associations.

  • Expert guidance on master vs. individual coverage, loss assessment, and valuable upgrades.

  • Clear, affordable quotes customized to your condo or co-op unit insurance needs.

Frequently Asked Questions about Condo & Co-Op Unit Insurance

  • Condo insurance, also called HO-6 insurance, covers your individual condo unit, including interior walls, floors, ceilings, and personal belongings. Co-op insurance is similar but designed for co-op unit owners who share ownership of the building. While the co-op corporation usually insures the building itself, your co-op insurance policy protects your personal property and any improvements you make to your unit.

  • Your building’s master policy usually covers only the structure and common areas, not the inside of your unit or your personal belongings. Condo or co-op unit owner insurance ensures that your furniture, electronics, clothing, and interior finishes are protected against fire, theft, water damage, and other covered risks.

  • A condo or co-op insurance policy generally includes:

    • Interior walls, floors, and ceilings (if not covered by the master policy)

    • Personal belongings such as furniture, electronics, and clothing

    • Liability protection in case someone is injured inside your unit

    • Additional living expenses if your unit becomes uninhabitable after a covered loss

    • Upgrades or improvements you’ve made to your unit

  • The amount of coverage you need depends on:

    • The master policy of your condo association or co-op board

    • The value of your personal property

    • Any upgrades or renovations made inside your unit

    • Your liability risk tolerance

    At Blue Rock Insurance Services, we will examine your building’s master policy. Our team will assist you in customizing the appropriate level of coverage for your condo or co-op unit.

  • While not legally required, most mortgage lenders and co-op boards mandate that owners carry their own insurance. Even if it’s not required, having the right coverage protects your investment and peace of mind.

  • As licensed insurance brokers, Blue Rock works for you. We gather quotes from various carriers to find tailored, competitive solutions that meet your business needs. Brokers also assist with risk assessments, claims support, and regulatory updates.

  • The cost depends on factors like:

    • Location of the building

    • The type of master policy in place

    • The value of your belongings

    • Your deductible and coverage limits

    On average, condo and co-op insurance costs less than homeowners insurance. It provides essential protection for your unit.

  • Some policies offer loss assessment coverage. This coverage assists in paying for your portion of damages. It applies to common areas or building repairs. These are costs that the association’s master policy does not completely cover.

  • Yes! Many insurance companies provide discounts when you bundle condo or co-op insurance with auto or umbrella insurance. This helps you save money while maximizing your coverage.