California Condo Insurance

Experts break down condominium insurance costs, coverages, companies, and more.

Written by Meg Stefanac
Written by Meg Stefanac

Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to

Condos in the La Jolla neighborhood of San Diego, CA. Find California condo insurance.

Condominiums enable people to enjoy the benefits of homeownership without the hassles associated with maintaining a yard or the building structure. These homes often offer residents a community living experience that includes perks like swimming pools, fitness centers, and clubhouses.

California ranks second only to Florida in the number of condominiums in the state. If you are among the proud condominium owners in the Golden State, you will need to cover your property with condo insurance.

Independent agents can help you find the best policy to meet your coverage and budgetary needs. These agents can work with some of the best condo insurance companies in California to ensure that you are getting a suitable policy at a competitive price. Find an insurance agent near you to get started.

What Is Condo Insurance?

Condo insurance is a form of homeowners insurance that has been customized to meet the coverage needs of condominium owners. It is designed primarily to provide you with personal property coverage, liability coverage, and loss of use coverage.

When you own a condominium, you are required to pay monthly dues to a homeowners association (HOA). Your HOA uses this money to pay for the following.

  • Management of upkeep in the buildings and common areas like pools, gyms, and outdoor spaces.
  • Keeping the community safe and livable, usually with hired security
  • Funding the condo association’s master insurance policy

This master insurance policy insurance policy is very important. It is designed to cover damage to the structure of your building and common areas. This means that you only need to purchase coverage for everything walls-in in your unit.

A good condo insurance policy will complement your HOA’s master insurance so that it provides you with all the home coverage you need without doubling down on coverage you already have.

How Much Does Condo Insurance Cost in California?

Condo insurance is much more affordable than traditional homeowners insurance. This is because it does not need to cover the structure of the building you live in or any of the common areas you may use. You will have already paid for your share of that coverage through your HOA fees.

Let’s compare the average cost of homeowners insurance to the average cost of condo insurance in California:

  • CA average home insurance cost: $1,008 per year
  • CA average condo insurance cost: $501 per year

If you want to be sure that you are getting your condominium coverage at a reasonable price, you will need to compare customized quotes from a few competing insurance providers before making a selection. Independent insurance agents make comparison shopping easy.

How Does California Condo Insurance Cover Your Personal Property?

Condo insurance is designed to cover the property you own inside your condominium. This is called contents coverage. It can pay to repair or replace your personal belongings if they are damaged or lost due to a covered event.

Here are examples of covered events that can affect California condo owners.

  • Property crimes like theft and vandalism
  • Fires, whether they started in your own unit, a neighboring unit, or because of a firestorm or wildfire
  • Severe storms like thunderstorms, tropical storms, windstorms, dust storms, and even, sometimes, winter storms

You will want to be certain that your coverage limits are high enough to fully cover your belongings if you lose everything in a major disaster like a structure fire. If you own any particularly valuable property, you might need to purchase special endorsements in order for it to be fully covered.

How Does California Condo Insurance Shield You from Liability Lawsuits?

All condo insurance policies also include personal liability coverage. This can provide coverage if you or anyone in your household (including your pets) are unintentionally responsible for another person experiencing an injury, property damage, or financial loss.

If you are sued for a covered event like a dog bite, accidental infliction of injury, or an accusation of libel or slander, your condo liability insurance can cover your associated expenses including things like legal fees, court costs, mediation costs, settlement, and judgements.


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What Is Loss of Use Insurance?

If your condominium building sustains significant damage due to a covered event like a windstorm or a fire, your unit may be rendered uninhabitable until the building is repaired or rebuilt.

Fortunately, all condo insurance policies also include loss of use insurance. This coverage can help by compensating you for the miscellaneous expenses you may accrue due to the need to acquire temporary housing. It can include coverage for things like the following.

  • Accommodation costs
  • Moving costs
  • Storage fees
  • Pet boarding fees, if applicable
  • Meals, if your accommodations do not have a kitchen

Your loss of use coverage can continue until your building is brought back up to code or you have acquired new permanent housing.

What Is Not Covered by California Condo Insurance?

As with any insurance policy, condo insurance has some limitations on what it will cover. For instance, you can expect your policy to exclude coverage for the following.

  • Flood damage
  • Earthquake damage
  • Anything that is already covered by your HOA’s master policy

Flood damage

Many parts of California have a high risk of sustaining flood damage. If your condominium unit is above the first floor, you probably don’t have to worry about your personal property being damaged.

However, if your home, or a portion of your home, is at ground level, you may benefit from supplementing your condo insurance with a contents-only flood insurance policy. Affordable policies are available through the National Flood Insurance Program (NFIP).

Earthquake damage

Earthquakes pose a significant risk in many parts of California. In most cases the most serious damage will be to the structure of your building, so you will want to be sure that your HOA has purchased suitable coverage against this risk with a good earthquake insurance policy.

Unless the earthquake is severe, you are not likely to experience a lot of expensive property damage inside your home. You can purchase an earthquake insurance policy to cover your personal property, but these policies are usually very expensive and have very high deductibles.

For most condominium owners, a personal earthquake insurance policy is not a good investment.

Damage covered by your HOA’s Master Policy

The master insurance policy maintained by your HOA is designed to cover the following.

  • Damage to your building’s structure including its roof, walls, siding, stairwells, and elevator
  • Damage to all common areas and facilities, like fitness centers and swimming pools
  • Liability lawsuits related to injuries or property damage sustained in common areas, parking lots, garages, walkways and the lawn.

Not all HOA master policies are the same. For instance, some may cover built-in appliances in your unit while others will not, so it is important that you are aware of exactly what your particular master policy covers. You can then purchase a condo insurance policy that will work in conjunction with it.

How Can a Local Independent Insurance Agent Help You Find the Best Policy?

When you are shopping for a good condo insurance policy, you can ask a local independent insurance agent for help. These agents live and work in your community, so they are familiar with the specific risks you face as a resident of your particular city.

Because they are independent, these agents are free to request customized quotes from some of the best condo insurance companies in California. This enables you to compare coverage and rates so you can select the policy that offers the best value for your money.

Arrange an obligation-free consultation with an experienced insurance agent near you to learn more about condo insurance.

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