What Is Walls-In Insurance Coverage for a Condo?

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  • What Is Walls-In Insurance Coverage for a Condo?

Anyone who owns a condo or is thinking about buying a condo should get familiar with walls-in insurance. Confusingly, there are two different definitions for this term, but they both revolve around condo insurance. This article will walk you through both types of walls-in insurance so you can easily figure out what insurance documents mean when they use this phrase. 

What Is Walls-In Insurance Coverage?

When you see the term walls-in insurance, it can mean one of two things depending on the context: 

  • HO-6 condo insurance: Walls-in insurance is another term for the type of insurance you, the condo owner, purchase to cover your belongings and your liability inside your individual condo unit.
  • A type of HOA master policy: In addition to your personal condo insurance, your HOA or condo association has a master policy that covers the exterior structure of the condo building and common areas shared by all members of the HOA. Walls-in coverage is one type of HOA master policy. 

You can use context clues to figure out which type of walls-in insurance an agent, policy document, or website is referring to. If you’re talking about insurance that you yourself are looking to buy, that’s the first definition. If you’re talking about which parts of the property your HOA insures, it’s the second definition. 

What Does Walls-In Insurance Cover?

Each type of walls-in insurance covers different parts of your condo. Here are the explanations of what exactly is covered in each type. 

HO-6 Walls-In Insurance for Condo Owners

An HO-6 insurance policy, aka walls-in insurance, covers everything in your individual condo unit from the walls inward. That includes all your personal property – your furniture, clothes, electronics, etc – and may or may not include appliances such as your dishwasher, fridge, and washer/dryer. 

HO-6 insurance also includes liability coverage, which means it pays for medical and legal expenses should a guest get injured inside your condo. It doesn’t cover liability for injuries that take place in common spaces, such as a parking lot or swimming pool. Those areas are the HOA’s responsibility to insure. 

Walls-In HOA Master Policy

There are three different types of master policy for condo associations: bare walls-in, walls-in, and all-in. Bare walls-in covers the least, all-in covers the most, and walls-in is somewhere in the middle. 

  • Bare walls-in: Covers property and liability in the common areas of your condo building (such as the pool or parking lot) and the structure of the building itself, only up to the drywall inside the individual condo units 
  • Walls-in: Aka single-entity coverage or studs-in coverage; covers everything that bare walls-in covers, plus attached fixtures such as flooring, lighting, cabinets, and countertops inside each condo unit (unless these fixtures have been altered or upgraded by the condo owner) 
  • All-in: Aka all-inclusive coverage; covers everything that walls-in covers, plus appliances inside each condo unit; may also cover fixtures that have been added by the unit owner, such as upgraded flooring or countertops 

You as a condo owner have no control over which type of master policy your HOA purchases, but it’s still important information for you to know. When you know what your HOA covers and doesn’t cover, you can adjust your own HO-6 insurance to fill in the gaps. If you don’t already have a copy of your HOA’s insurance policy documents, you should be able to get one easily by contacting your association’s administration. 

What Type of Insurance Do I Need for a Condo?

If you’re purchasing a single condo unit, you’ll want to take out an HO-6 insurance policy, which is a type of homeowners insurance designed specifically for condos. An HO-6 policy insures your property inside your condo and your personal liability but doesn’t cover the structure of the building, such as the framing or roof. The building itself falls under your HOA’s insurance. 

How Much Does Walls-In Insurance Cost?

Walls-in insurance for condo owners costs around $300 to $1,000 per year or $25 to $85 per month on average in the United States. That gives you a ballpark range, but the actual cost of condo insurance varies widely in different states and for different individuals. 

Your condo insurance rates will be based on lots of factors specific to you, such as where you live, the size of your condo, the value of your belongings, your insurance history, your credit score, and more. 

As a general rule, the more coverage you need, the more expensive your insurance will be. So, if you own a lot of expensive items that require additional coverage or if you need a high liability coverage limit because you have a dog who might bite someone, you can expect your condo insurance to cost more than average.

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The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.

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