Condo Insurance in Vermont

Experts break down Vermont H-06 insurance costs, coverages, and companies

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

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Residential Condominium Buildings on Snowy Winter Day. Find Vermont condo insurance.

Condominiums are a popular housing choice for many residents of the Green Mountain State, particularly those who are located near ski slopes and resorts. If you are among the many condominium owners in Vermont, a good condo insurance policy can cover your property and protect your finances.

Local independent agents can help you find the right condo insurance to meet your coverage and budgetary needs. These agents work for you, not for a specific insurance provider, so they can shop around to find you an ideal policy. Talk to an independent insurance agent near you to get more information.

What Is Condo Insurance?

Condo insurance, which is also frequently referred to as H-06 insurance, is a specialized type of homeowners insurance. It is designed to meet the specific needs of condominium owners who are also covered by an HOA master policy.

A good condo insurance policy will work in conjunction with your HOA master policy to provide you with all the protection you need while ensuring that you are not overpaying by purchasing redundant coverage.

Do You Need Insurance for Your Condo in Vermont?

Condo insurance is not required by law. However, there are cases where you may need to have it. It is important that you first understand the difference between condo insurance and your HOA’s master policy.

  • Condo insurance: This is purchased by you. It is a specialized form of homeowners insurance that covers property loss and damage, displacement, and liability lawsuits. Most policies will provide walls-in coverage for your unit and personal property.
  • HOA master policy: This is purchased by your homeowners' association (HOA). It is designed to cover the structure of your condo’s building as well as common areas like lobbies, outdoor spaces, fitness centers, tennis courts, clubhouses, and other amenities.

As the owner of a condominium, you will be required to pay dues to your homeowners' association, a portion of which pays for the HOA master policy. Also, if you have a mortgage on your condo or are paying on a home equity loan, you will be required by your lender to carry condo insurance.

Whether or not it is required, condo insurance is a good idea because it can protect you from loss or damage caused by severe weather events and other hazards. Some of the most common severe weather events in Vermont are heavy snow, thunderstorms, windstorms, and prolonged freezing temperatures.

How Much Does Condo Insurance Cost in Vermont?

Because condo insurance does not need to cover the structure of your building or its outdoor and common areas, it is much more affordable than a traditional homeowners insurance policy.

Let’s compare the average cost of homeowners insurance vs. the average cost of condo insurance in Vermont:

  • Vermont average home insurance cost: $918 a year
  • Vermont average condo insurance cost: $339 a year

Your actual cost will be based on factors such as:

  • The size of your condo in square feet
  • The crime rate and weather risks where your condo is located
  • The estimated value of your personal property
  • Your claims history and credit score
  • Whether you have any pets, and if so, what kind

A good rule of thumb, if you want to save money on your insurance, is that you can earn valuable discounts by bundling your condo insurance with another policy like car insurance or snowmobile insurance. Be sure to ask about this and any other potential condo insurance discounts when requesting rates and information from insurers.

Every insurance company has its way of computing costs. This means that every company you contact for a price may quote you a different rate.

By taking the time to compare a few customized quotes from competing insurers, you can rest assured that the policy you are purchasing is being offered to you at a competitive price. Independent insurance agents make comparison shopping easy.

What Does Condo Insurance Cover in Vermont?

Your condo insurance policy is designed to protect your finances in three important ways:

  • By covering loss or damage to your personal property
  • By shielding you from losses related to liability lawsuits
  • By paying for your additional living expenses if you are displaced from your home due to a covered event

You will be really glad you have this affordable coverage if disaster strikes and your home is damaged.

How Does Vermont H-06 Insurance Cover Your Personal Property?

Contents insurance is included in every condo insurance policy. It is designed to cover repair or replacement costs if your personal belongings are lost or damaged because of a covered event. Some of the covered events that may affect Vermont condominium owners include:

  • Property crimes like theft and vandalism
  • Fire, smoke, and damage caused by firefighting efforts
  • Severe weather events like storms and high wind
  • Falling objects like hail and uprooted trees

You can opt to purchase replacement cost or actual cash value coverage. While replacement cost coverage costs more, it can enable you to replace lost or damaged items with new, comparable items instead of reimbursing you for your property’s actual depreciated value.

Either way, your coverage limits should be high enough to enable you to fully replace all your belongings if they are destroyed in a major disaster like a fire. If you own any particularly valuable property, you might need to purchase a special contents endorsement for it to be fully covered.

How Does Vermont H-06 Insurance Cover You against Liability Lawsuits?

Condo liability insurance is also included in every condo insurance policy. This personal liability coverage can protect your finances if you or someone in your household unintentionally cause another person to experience an injury, property damage, financial loss, or other harm.

Examples of some things your condo liability insurance can cover include:

  • If a visitor is injured in an accident in your home and it can be attributed to negligence on your part
  • If your dog gets loose and bites someone
  • If you are accused of libel or slander
  • If you accidentally injure someone while you are away from home

Your condo liability insurance can pay for expenses like legal counsel and defense, court fees, mediation costs, settlements, and judgments.

How Does Vermont H-06 Insurance Cover against Displacement?

Loss of use insurance is another part of every condo insurance policy. It is designed to protect your finances if your home is rendered uninhabitable because of significant damage caused by a covered event.

It can provide coverage for your additional living expenses if you must seek alternate shelter while repairs are made to your condo. It includes coverage for things like:

  • The cost of a hotel or a temporary rental home
  • A meal allowance if your accommodations do not include a kitchen
  • Moving costs and storage fees
  • Pet boarding fees, if needed
  • Mileage reimbursement if you must drive further to get to work

Your loss of use coverage can continue until your building is brought back up to code and you can return home, or until you have secured a new primary residence.

What Other Coverage Might You Need for Your Vermont Condo?

  • Vacant condo insurance: If you use your condo as a vacation home and it sits unoccupied for months at a time, you may need to purchase vacant home coverage. This is an inexpensive way to protect your vacant condo from the costs associated with break-ins, fires, and other incidents while you are away.
  • Landlord insurance: If you rent out your condo to others, whether part-time or full-time, you are likely to be required by your insurer to carry landlord insurance or to purchase a special endorsement on your condo insurance policy. This extra coverage will protect you against the risks that go along with having tenants.
  • Flood insurance: Condo insurance does not cover floods, which can cause a lot of expensive damage. If your condo is a ground floor unit and is in an area with a moderate to high flood risk, you may want to also purchase flood insurance. Affordable contents-only policies are available through the National Flood Insurance Program (NFIP).

What Are the Best Condo Insurance Companies in Vermont?

Many insurance companies provide coverage for condominium owners in this New England state. The most highly rated are the ones that have a long-standing track record of reliability, affordability, and excellent customer service.

Local independent agents have teamed up with some of the best condo insurance companies in Vermont, so you can be sure that any policies your agent recommends to you are offered by trustworthy insurance providers.

Why Shop Condo Insurance with a Vermont Independent Insurance Agent?

Local independent insurance agents understand the risks you face as a resident of Vermont because they live and work in your community. These experienced agents can help you be sure that you are getting a competitively priced policy that includes all the coverage you need to keep your finances secure.

Arrange an obligation-free consultation with an independent insurance agent near you to learn more. You and your agent can soon be reviewing customized condo insurance quotes from a variety of Vermont’s most highly rated insurers.

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