When speaking with clients, there is often times confusion on the difference between a Homeowners Insurance Policy and a Condo Policy. If you are in the market for a new condo, or looking to review your current policy, know that there are differences between condo insurance and homeowner’s insurance. Let’s break it down.

Technical, But Important

In insurance terms, a Homeowners policy is called an HO-3 policy and a Condo insurance policy is called a HO-6 policy.


With a HO-3 policy, we are concerned about the dwelling value itself for replacement. This has nothing to do with market value or sales price. There are six main coverages including the deductibles for Hurricane and AOP (all other perils).  The main coverages are A, B, C, D, E & F plus the deductible options.

These coverages are generally based on %’s of the dwelling amount. For example, let’s take a dwelling coverage amount of $200k. Your coverages would look something like this.

  1. Dwelling                 $200k
  2. Other structures   $  20K  10%
  3. Personal Property $100k  50% always ask for Replacement Cost
  4. Loss of use              $ 60K   30%
  5. Personal Liability   $300k
  6. Med Payments      $     5K

AOP Deductible     $1,000

Hurricane Deductible   2% of coverage A. Dwelling amount which would be $4K


With a HO-6, Condo Policy it is similar but you need to know where to start. When you insure the Condo your dwelling amount is from the walls in and concrete floors. The Master Condo Association policy will build back the structure to that (i.e. Drywall and Concrete floors). You will need to cover it for paint, flooring, cabinets, appliances etc. Basically, you are covering anything permanently attached.

Generally speaking, you want to start out somewhere between $35-$50 per square foot for replacement on the condo dwelling. For example, if you have a 1,500 square foot condo x $35 that would give you $52,500 coverage on the dwelling.

On top of the dwelling, you need to consider your Personal Property. This would include furnishings, clothes, electronics, pots and pans, everything. This is where you would need to do an evaluation and let you agent know what you need. Your other coverages would fall into place like the HO-3 homeowner’s policy for Liability and Med Pay. The same would apply to the deductibles that you can choose to your comfort level.

Hopefully this clears up the basic differences between Homeowners and Condo Insurance. Yes, there are a lot of variables that go into insurance policy selection and pricing. Being one of Florida’s top homeowners insurance agents over the last 11 years has given us plenty of experience and expertise to ensure you have the right coverage at the right price. Contact us today to discuss your needs.

Pablo Beach Insurance

The BEST Insurance Agency in Jacksonville!

For over 13 years, PBIG has been helping Florida Homeowners by getting them the right coverage at the right price. We are locally owned, have a casual approach, and deliver professional results. Click the image below to get a no-hassle, free quote from one of our home insurance experts.

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