Condo Insurance in Florida: HO-6 Coverage, Costs, and the New Reserve Rules

Condo insurance in Florida trips up a lot of buyers, because two policies are doing the work and the rules changed sharply after the 2021 Surfside collapse. Here's how unit-owner coverage fits with the building's master policy, why premiums are high, and what the new reserve laws mean for your budget.

Key Takeaways

• Your HO-6 policy covers your unit's interior, belongings, and liability; the association's master policy covers the building and common elements.
• Florida HO-6 policies must include loss assessment coverage (at least $2,000, deductible no more than $250).
• Florida condo premiums are among the nation's highest, driven by hurricane and wind risk and reinsurance costs.
• Since Surfside, SB 4-D requires milestone inspections and funded structural reserves, which affect your dues and special-assessment risk.

Two policies, two jobs

A condo is insured in layers. The association carries a master policy on the building structure and common elements. You carry an HO-6 unit-owner policy that covers your personal property, liability, and the interior of your unit (Florida CFO). Exactly where the master policy stops and yours begins, the so-called "walls-in" line, is set by your association's governing documents, so read the declaration rather than assuming.

What an HO-6 covers

An HO-6 typically covers your belongings, interior finishes and improvements, personal liability, and loss of use. In Florida it must also include loss assessment coverage of at least $2,000 with a deductible no greater than $250 (Florida CFO), which helps when the association levies an assessment for a covered loss to shared property. Many policies cover named perils by default, with an all-perils upgrade available.

Why it costs so much here

Florida is one of the most expensive states for condo insurance. The drivers are structural: hurricane and wind exposure, the high cost of reinsurance that carriers pass through, rising reconstruction costs, and litigation. Exact premiums vary widely by building, location, age, and roof, so treat any quote as building-specific rather than a statewide number.

What changed after Surfside

This is the part that hits your wallet beyond your own policy. After the 2021 Champlain Towers South collapse, Florida passed SB 4-D (2022). It requires milestone structural inspections for condo and co-op buildings of three or more habitable stories, generally at 30 years of age (earlier near the coast, as locally determined), then every 10 years (Fla. Stat. 553.899). It also requires a Structural Integrity Reserve Study (SIRS) at least every 10 years, and, importantly, associations can no longer vote to waive or underfund the structural reserves it identifies (Fla. Stat. 718.112). The practical result: higher association dues in many buildings, and special assessments where reserves were underfunded.

What buyers should ask

Before you buy a Florida condo, ask whether the building has completed its milestone inspection and SIRS, how reserves are funded, and whether any special assessments are planned. Those answers can matter as much as the unit itself. Pair this with what HOA and association fees cover and your closing math in who pays closing costs in Florida, and browse South Florida condos when you're ready.

Buying a condo in South Florida? Pure Equity Realty will help you read the association's reserves, inspections, and assessment history before you commit. Talk to us.

Frequently asked questions

What does condo insurance cover in Florida?

Your HO-6 covers your unit's interior, belongings, liability, and required loss assessment coverage; the association's master policy covers the building and common elements. The exact split is set by your association's documents.

Why is condo insurance so expensive in Florida?

Hurricane and wind risk, the cost of reinsurance, rising rebuilding costs, and litigation all push premiums up. Florida is among the most expensive states for condo coverage, and costs vary by building.

How do the new Florida condo laws affect me?

SB 4-D requires milestone inspections and funded structural reserves for buildings three or more stories. Associations can't waive those reserves, which can raise dues and trigger special assessments.

What is loss assessment coverage?

It's HO-6 coverage for your share when the association assesses owners for a covered loss to common property. Florida requires at least $2,000 with a deductible no greater than $250.

Sources

• Florida CFO (HO-6 and loss assessment); Florida Statutes 553.899 (milestone inspections) and 718.112 (SIRS / reserves); Florida DBPR (condominium inspections).

Published June 20, 2026. General information, not insurance or legal advice; coverage, costs, and reserve obligations vary by building, so confirm with a licensed Florida agent and the association's documents.