We help NYC owners find HO-6 policies that aim to satisfy both mortgage lenders and your building's condo board / HOA bylaws—subject to underwriting and what each carrier can offer.
Insure NYC Brokerage compares condo insurance quotes from multiple insurers. Use the quote form on this page or call 212.799.7500 for dwelling, contents, loss assessment, and liability options that may fit your building's rules and your loan documentation.
Condo Insurance Information
Condo Insurance for personal possessions
Condo insurance provides coverage for your possessions. Your furniture, electronics including computers and cellphones, your wardrobe, household goods, and most of the personal possessions you have acquired are covered by the contents coverage part of your condo policy. Your policy will cover you for fire, water damage, theft, and many other perils that can damage your property. Theft coverage usually covers you for theft that occurs away from your premises. Certain types of property are subject to sub-limits, examples include jewelry, electronics, business property, etc., Possessions subject to sub-limits can be insured separately, jewelry/engagement rings are often insured separately, or you can increase the sub-limit. The best way to determine how much insurance is to ask yourself if you had to replace all of your possessions and furniture how much would it cost. We can help you determine the amount of personal property/contents insurance you should buy.
wardrobe insured
Condo Insurance for walls, floors, builtins, betterments and improvements
It is important to purchase enough insurance so that you can rebuild your condo should you have a covered total loss, for example, a fire. If a steam or plumbing pipe burst and damages your floor how much would it cost to replace it? The master policy that covers the common areas of the condominium will not be sufficient to provide coverage for the walls, floor, fixtures, built-in, etc. Renovations and upgrades made by you or a previous owner are not covered by the building's master policy. It's important to purchase enough insurance to be able to rebuild the entire unit if you suffer a total loss. Our agents use replacement cost calculators to help you determine the correct amount of condo insurance to purchase.
In New York, association bylaws and master policies vary. Some developments follow a "bare walls" approach—often meaning the unit owner may be responsible for most of the finished interior from the studs inward—while an "all-in"master policy may pick up more base building finishes. We review your building's requirements so your dwelling coverage (Coverage A on an HO-6) may be sized to rebuild your specific unit's interior, subject to policy terms.
furniture insured
Condo Liability insurance
Liability insurance provides coverage for lawsuits filed against you or resident family members for property damage or bodily injury that you may be liable for. If you let your tub overflow and damage the apartments below you the liability portion of your condo policy may be able to cover the cost of the damages. If a guest slips and falls in your apartment you may be liable, these types of mishaps are covered by the liability part of your condo policy. Liability insurance will pay for the cost of defending you in court and pay any court awards up to the limit of your policy. Liability insurance has limits, they usually start at $300,000 can go as high as $1,000,000 or more. It will not provide coverage for lawsuits related to business activity, the use of motor vehicles, and certain other types of losses. Generally, your liability limit should match the value of all your assets. We can help you choose the proper limit.
kitchen insured
Loss assessment coverage
NYC condo boards can levy assessments after building-wide damage, large master-policy deductibles, or liability suits that hit the association—and unit owners may be asked to fund their share. Loss assessment coverage on an HO-6 may help with certain assessed charges when covered by your policy form, up to the limit you select.
While many policies include a standard limit (often $1,000 on some forms), we often recommend higher optional limits when your building carries large deductibles or when special assessments for common-area losses are a concern. Exact coverage triggers and exclusions vary; our brokers can walk through your bylaws summary and association profile.
Additional Living Expense Coverage
If a covered loss damages your condo and you can't live in it while it is being repaired, additional living expense insurance pays the added expense of living away from home. It will pay for temporary living arrangements and/or hotels, the extra cost of meals, and other extra living expenses incurred while your condo is being rebuilt.
bedroom insured
Condo Insurance FAQ
What will condo insurance cover?
Condo insurance provides many coverages. The most basic coverages are for your personal possessions, the inside parts of your apartment, walls, floors, upgrades by you or a previous owner, builtins, floors, etc., and personal liability that will cover certain lawsuits brought against you, if your tub overflows and damages the units below you your condo policy will cover you if you're liable.
What types of losses am I covered for?
The property portion will pay for losses from fire, smoke, lightning, theft, vandalism/riot, wind & hail, damage from the freezing of plumbing and heating systems, water damage from rupture of water and steam pipes, and much more. The liability portion of your policy will pay for certain settlements that you are liable for and the defense costs.
How much does condo insurance cost?
Condo insurance costs vary based on factors such as the unit size, personal property coverage, liability limits, deductible selection, building requirements, location, and prior claims history. Many condo owners can often find affordable coverage options, but pricing varies depending on the coverage selected and the insurance company. Our agency can help compare quotes from multiple carriers to help you find coverage that fits your needs and budget.
What discounts are available to condo owners?
Insurance companies will offer you discounts if your building is fire resistant, has a doorman or full time security, or if you subscribe to a central station alarm service that monitors for fire and/or burglary.
Why do I need loss assessment coverage for my condo?
If your condominium association assesses a loss to each unit owner due to an insured loss, loss assessment coverage may help pay your share—including your portion of large building-wide deductibles after a common-area claim or special assessments tied to damage or liability that hits the association. Policies often include a modest default limit, with optional higher limits available. Coverage triggers and caps vary by form and carrier; this insurance is not a substitute for maintenance reserves or every type of association charge. Our agents can help you compare limits that may make sense for your building.
Does condo insurance provide liability for dogs?
Yes, in most cases the liability portion of your policy will cover you for suits brought against you for dog bites. Governor Hochul signed Bill 4254 that prohibits insurance companies from discriminating against dog breeds on homeowner policies. Insurance companies can no longer charge higher premiums or ban certain breeds. They can ask if the dog has a past history of violence and/or has vicious tendencies and can refuse to issue a policy based on those questions.
Does Condo insurance cover you if you rent out your apartment?
If you are planning to rent your condo your policy should be set up for that type of exposure. We offer policies for owners that rent their condo on a long term basis. Some policies will cover you for lost rents in certain conditions.
Does condo insurance cover me for Airbnb or short term rentals?
It depends on the insurance policy. We work with insurance companies that can insure you if you rent your apartment on a short term basis.
Will my insurance pay for temporary housing if something happens to my condo?
Our policies include coverage for loss of use or additional living expenses if you can not occupy your apartment due to a covered loss. Some of our carriers limit this coverage with a set dollar amount while others limit it by time.
My building requires me to buy insurance. Do your policies meet their requirements?
Yes, we work with several insurance companies that meet the requirements of condo boards, homeowners associations, and management companies.
My condo building has strict insurance requirements. Can your agency help me meet those requirements?
Yes. Many condo buildings have specific insurance requirements regarding liability coverage, deductibles, additional insured wording, and proof of insurance. Our agency regularly helps condo unit owners review building insurance requirements and secure coverage that satisfies those requirements while helping protect their unit and personal property.
Can you provide evidence of insurance or an insurance binder for my mortgage company?
Yes. We can prepare evidence of insurance, declarations, and binders and work with your lender’s checklist—including proper mortgagee clause and additional insured / loss payee wording when your loan documents require it. For NYC closings with tight timing, we often aim for same-business-day binders and certificates when coverage is in place and carrier systems allow (never guaranteed). Send your attorney or processor’s template so we can match names, loan numbers, and mortgagee language to what your bank expects.
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Insure NYC Brokerage Inc.
33 W 60th St 2nd FL
New York NY 10023
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