California Condo Insurance
Get a full analysis of California condo insurance costs, coverage, and companies.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Find the Best Condo Insurance Options in California
Condominiums enable people to enjoy the benefits of home ownership without the hassles associated with maintaining a yard or the building structure. Condos in California often offer residents a community living experience that includes perks like swimming pools, fitness centers, and clubhouses.
If you are among the proud condominium owners in the Golden State, you will need to cover your property with condo insurance.
An independent insurance agent in California can help you understand condo insurance and find you the best coverage for your needs. A local agent can help you get quotes from multiple insurance companies so that you can make the best choice.
Best Condo Insurance Companies in California
We recommend several insurance companies that offer highly rated condo insurance in California. The following are some of the best condo insurance companies in California. These companies provide a mix of valuable coverage offerings and competitive pricing.
- Stillwater Insurance Group: Stillwater is a national personal and commercial lines carrier with rock-solid financial stability. The company can help you with your condo insurance needs in California.
- Safeco: Safeco has been protecting individuals and families since 1923. The company offers condo insurance in California, as well as a comprehensive range of other personal insurance policies. Working through independent agents, Safeco makes it easy to get the best mix of coverage and pricing.
- Progressive: Progressive is based in Ohio but offers condo insurance across all 50 states, including California. California residents can look to Progressive for most of their personal insurance needs.
- Travelers: Travelers offers highly-rated condo insurance in California. It can meet your additional personal insurance needs with a full line of products, including auto, boat, identity theft, umbrella, and other coverages.
- Nationwide: Nationwide provides condo insurance and other popular types of insurance coverage in California. The company is headquartered in Columbus, OH, and is represented by independent insurance agents in 50 states, including California.
An independent insurance agent in your area can help you learn more about these and other condo insurance companies in California. A local agent can help you get competitive quotes for the coverage that fits your needs.
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What Is Condo Insurance?
Condo insurance is similar to renters insurance and regular homeowners insurance, but it's designed for the specific coverage needs of condominium owners.
When you own a condominium, you will be required to pay monthly dues to a homeowners association (HOA). Your HOA uses some of these funds to pay for the condo association’s master insurance policy.
The association master policy covers the building(s) and the common elements of your condo complex. You only need to insure the portion of the building where you live (the dwelling) and your personal property. Typically, the association master policy covers 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 only the walls, roof, floors, and elevators — leaving the unit owner responsible for covering everything else. Others might cover built-in appliances, but not things like countertops, fixtures, and carpeting installed by the builder or the unit owner.
Association master policies can vary even further. You'll need condo insurance that covers what the condo association's policy does not. An independent insurance agent can help you determine how much coverage you need for your personal property and any structural elements you are responsible for insuring.
What Does Condo Insurance Cover in California?
The basic elements of a condo insurance policy in California are as follows:
- Dwelling coverage: Covers damage to any parts of the unit itself (walls, fixtures, etc.) that the unit owner must cover according to the association master policy.
- Personal property coverage: Covers damage to the condo owner’s personal property, including furniture, clothing, artwork, electronics, and more.
- Loss of use coverage: Provides certain temporary living expenses (e.g., lodging, meals) if your unit is uninhabitable after a covered loss (e.g., after a fire).
- Liability coverage: Covers medical expenses, repairs, and legal fees if someone is injured in your unit or if you damage someone else's property.
The property coverage in a condo insurance policy covers your property when it is lost, damaged, or destroyed by certain covered perils. Condo insurance typically covers damage caused by:
- Fire and smoke
- Wind and Hail
- Theft
- Explosions
- Vandalism
- Lightning
- Burst pipe
Your policy may specify additional covered perils. The association master policy that your condo association has will determine the types and amount of condo insurance that you need to protect your unit. An independent insurance agent in your area can help you get the coverage you need.
What's Not Covered by Condo Insurance in California?
Remember that condo insurance in California won’t cover everything. Like homeowners insurance, your condo insurance may help cover water damage caused by burst pipes, rain, and ice dams, but it may not cover sewer or drain backups or water damage caused by floods.
Your condo insurance also won't cover earthquake damage or anything already covered by your association master policy.
Some of these things can be covered if you purchase an additional policy or an endorsement for your condo policy. For example, you can purchase a sewer backup endorsement to your condo insurance policy if you need that type of coverage. Flood damage can be covered with a separate flood insurance policy purchased from the National Flood Insurance Program (NFIP), a program administered by the federal government.
Condo owners in California face a heightened risk of earthquakes. It's a good idea to find out how your association master policy covers earthquake damage and if it's necessary or feasible for you to purchase some earthquake insurance for your personal property.
It is important to be aware of what your policy does and does not cover so that you do not face any unfortunate surprises later. When you work with an independent insurance agent in your area, your agent can help you review your policy and understand when your coverage doesn’t apply.
How Much Does Condo Insurance Cost in California?
Condo insurance in the U.S. costs around $455 per year, on average. In California, the average annual cost of condo insurance is around $690.
Condo insurance in California costs significantly less than homeowners insurance because you're sharing the cost of coverage with your HOA. You can still expect your condo insurance premiums to be higher or lower than the average for your area, depending on certain risk factors that insurance companies use to calculate what to charge you.
Your condo insurance costs in California will vary depending on:
- The crime and weather risks in your zip code
- The construction materials used in your condo
- The value of your condo
- The coverage options, coverage limits, and deductibles that you choose
- How much coverage is provided by the association master policy, and how much coverage you need to fill the gaps
A local independent insurance agent can help you understand your condo insurance quotes and help you find the best condo insurance in California.
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Our independent agents shop around to find you the best coverage.
California Condo Insurance FAQs
Condo insurance in California provides several different types of coverage:
- Dwelling coverage: Covers damage to any parts of the unit itself (walls, fixtures, etc.) that the unit owner must cover according to the association master policy.
- Personal property coverage: Covers damage to the condo owner’s personal property, including furniture, clothing, artwork, electronics, and more.
- Loss of use coverage: Provides certain temporary living expenses (e.g., lodging, meals) if your unit is uninhabitable after a covered loss (e.g., after a fire).
- Liability coverage: Covers medical expenses, repairs, and legal fees if someone is injured in your unit or if you damage someone else's property.
Condo insurance is not required by law in California, but if you have a mortgage, your lender will require you to have this important coverage.
What's more, condo insurance is the best way to protect your investment in your condominium. While the condo association covers certain common elements of the complex with an association master policy, you'll need to fill in the gaps of your dwelling, personal property, loss of use, and liability coverage with an individual condo insurance policy.
The average annual cost of condo insurance in California is $690. The cost of your condo insurance policy in California depends on several factors, like the type of construction materials used in your condo, the value of your unit, the crime and weather risks in your area, and the amount of coverage you need.
Because everyone has different needs and levels of risk, the cost of your condo insurance policy may not be the same as your neighbor's.
We recommend several top condo insurance companies in California, including Safeco, Travelers, Progressive, Stillwater Insurance Group, and Nationwide.
If you own a condo, your condo owners association will have an association master policy, which covers the building(s) and the common elements of your condo complex. The coverage in an association master policy typically falls into one of the three following categories:
- Bare walls coverage covers the basic elements of a building's structure (walls, roof, floors, elevators, etc.).
- Single entity coverage insures the basic structure and specific items within individual units other than the owners' personal property.
- Modified single entity/all-in coverage protects fixtures, installations, or additions/improvements within the interior surfaces of individual units' perimeter walls, floors, and ceilings.
Individual condo unit owners should purchase condo insurance that covers what the association master policy does not.
No, condo insurance in California does not cover floods. You can purchase flood insurance designed for condo owners from the National Flood Insurance Program and some private carriers.
Instead of getting an online quote for California condo insurance, find an independent insurance agent now and get one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of options so you can make the best choice.
What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
Contact an agent today for a free, no-obligation consultation.
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