Homeowners Insurance (HO-3) vs Condo Insurance (HO-6)
Home & Property Insurance Types comparison: specs, VersusAnything Score, key differences and a clear recommendation.
General information to help you compare options; not financial, legal or insurance advice. Rules, prices and coverage vary by country, state and provider.
Homeowners Insurance (HO-3) and Condo Insurance (HO-6) are two of the most cross-shopped home and property insurance types right now, and the gap between them is narrower in some rows and wider in others than the marketing suggests. Homeowners insurance (HO-3 in the US) is the standard policy for owner-occupied houses, covering the structure on an open-perils basis plus belongings, liability and temporary housing. Condo insurance (HO-6) fills the gap between the building's master policy and your unit, covering interior fixtures, belongings, liability and loss assessments from the association.
Quick verdict
On the VersusAnything Score, Condo Insurance (HO-6) finishes ahead, 67 to 17. It is the better buy for owners of condominiums and apartments governed by an owners' association; for anyone who owns and lives in a detached or semi-detached house, homeowners insurance still makes more sense.
VersusAnything Score
Scores are calculated from measurable specifications normalised within the home & property insurance types category and weighted by the factors above. Text-only rows (such as chipset or operating system) are explained but not scored. How the score works.
Side-by-side overview
Homeowners Insurance (HO-3)
Homeowners insurance (HO-3 in the US) is the standard policy for owner-occupied houses, covering the structure on an open-perils basis plus belongings, liability and temporary housing.
Best for anyone who owns and lives in a detached or semi-detached house
Condo Insurance (HO-6)
Condo insurance (HO-6) fills the gap between the building's master policy and your unit, covering interior fixtures, belongings, liability and loss assessments from the association.
Best for owners of condominiums and apartments governed by an owners' association
Key differences
- Who it is for: homeowners insurance Owner-occupiers of houses vs condo insurance Condo and apartment unit owners — a preference, not a scored win
- Covers the building: homeowners insurance Yes, open perils (anything not excluded) vs condo insurance Interior only (walls-in); master policy covers the rest — a preference, not a scored win
- Covers your belongings: homeowners insurance Yes, named perils vs condo insurance Yes — a preference, not a scored win
- Typical annual cost (US, approx.): homeowners insurance Roughly $2,000-$2,600 per year vs condo insurance Roughly $450-$650 per year — a preference, not a scored win
- Who requires it: homeowners insurance Mortgage lenders vs condo insurance Mortgage lenders and many associations — a preference, not a scored win
Specification comparison table
| Specification | homeowners insurance | condo insurance |
|---|---|---|
| Who it is for | Owner-occupiers of houses | Condo and apartment unit owners |
| Covers the building | Yes, open perils (anything not excluded) | Interior only (walls-in); master policy covers the rest |
| Covers your belongings | Yes, named perils | Yes |
| Personal liability included | Yes | Yes |
| Typical annual cost (US, approx.) | Roughly $2,000-$2,600 per year | Roughly $450-$650 per year |
| Cost tier (1 = cheapest) | 4 | 2 |
| Who requires it | Mortgage lenders | Mortgage lenders and many associations |
| Loss of use / temporary housing | Yes | Yes |
| Common exclusions | Flood, earthquake, wear and tear, high-value items above sub-limits | Flood, earthquake, common areas, items above sub-limits |
Overall: homeowners insurance vs condo insurance Score: homeowners insurance 17 · condo insurance 67
homeowners insurance: Owner-occupiers of houses. condo insurance: Condo and apartment unit owners. Neither is scored, but the policy form must match how you occupy the property. homeowners insurance: Yes, open perils (anything not excluded). condo insurance: Interior only (walls-in); master policy covers the rest. Neither is scored, but building cover is the biggest and most expensive part of any property policy. The two differ on covers your belongings (Yes, named perils against Yes), and contents cover replaces furniture, electronics and clothing. Personal liability included is identical at Yes. For typical annual cost (US, approx.), homeowners insurance uses Roughly $2,000-$2,600 per year whereas condo insurance goes with Roughly $450-$650 per year. This is a preference rather than a scored win: typical cost shows scale; real quotes depend on location, value and claims history.
On cost tier (1 = cheapest), condo insurance keeps it to 2 while homeowners insurance lists 4. That 2 edge counts since lower cost reflects lower insured value, not lower importance. For who requires it, homeowners insurance uses Mortgage lenders whereas condo insurance goes with Mortgage lenders and many associations. This is a preference rather than a scored win: mortgage lenders and landlords often make the policy mandatory. On loss of use / temporary housing the two match exactly (Yes). The two differ on common exclusions (Flood, earthquake, wear and tear, high-value items above sub-limits against Flood, earthquake, common areas, items above sub-limits), and floods and earthquakes are almost always separate policies.
Pros and cons
homeowners insurance
Pros
- Covers the building on open perils
- Belongings and liability included
- Required by mortgage lenders
Cons
- Weaker cost tier (1 = cheapest) (4)
condo insurance
Pros
- Covers interior walls and fixtures
- Loss assessment cover
- Cheaper than homeowners
Cons
- Weaker cost tier (1 = cheapest) (2)
Which one should you buy?
Choose Homeowners Insurance (HO-3) for…
Anyone who owns and lives in a detached or semi-detached house. It stands out for covers the building on open perils, belongings and liability included, required by mortgage lenders.
Choose Condo Insurance (HO-6) for…
Owners of condominiums and apartments governed by an owners' association. It stands out for covers interior walls and fixtures, loss assessment cover, cheaper than homeowners.
Final verdict
condo insurance scores 67 to homeowners insurance's 17 on our category weighting, making it the stronger overall pick for owners of condominiums and apartments governed by an owners' association. homeowners insurance remains the right call for anyone who owns and lives in a detached or semi-detached house. The VersusAnything Score is a transparent starting point, not a command; weight the rows you care about and the right answer for you may differ.
Compare with another property insurance policy
Frequently asked questions
Is homeowners insurance better than condo insurance?
On the VersusAnything Score, condo insurance finishes ahead 67 to 17. That makes condo insurance the better overall pick for owners of condominiums and apartments governed by an owners' association, while homeowners insurance is still the right choice for anyone who owns and lives in a detached or semi-detached house.
What is the biggest difference between homeowners insurance and condo insurance?
The largest gap is who it is for: homeowners insurance lists Owner-occupiers of houses while condo insurance lists Condo and apartment unit owners. The policy form must match how you occupy the property.
Which is cheaper, homeowners insurance or condo insurance?
condo insurance is cheaper on cost tier (1 = cheapest): 2 against 4 for homeowners insurance. Street prices vary by country and retailer, so check current offers.
Who should choose condo insurance over homeowners insurance?
condo insurance is the better fit for owners of condominiums and apartments governed by an owners' association. Its strongest points are covers interior walls and fixtures, loss assessment cover, cheaper than homeowners.
Sources
- homeowners insurance: Policy type official (manufacturer)
- condo insurance: Policy type official (manufacturer)
Specifications last verified: 2026-10-01. Prices are launch or official list prices in US dollars unless stated. See our sources and data policy.