What does co-op apartment insurance cost?
Insurers wrote HO-6 policies for condo and co-op unit owners at an average of $658 a year in 2023. By state it ran from $522 to $1,146 in the states below.
Average HO-6 premium in selected states
| State | Average a year |
|---|---|
| Florida | $1,146 |
| Texas | $999 |
| New York | $781 |
| California | $722 |
| Massachusetts | $537 |
| Illinois | $522 |
| United States | $658 |
Source: NAIC, Homeowners Insurance Report: Data for 2023 (July 2026), Table 5. Average written premium per policy-year for HO-6 policies, which the NAIC reports for condominium and cooperative unit owners together. Your own price depends on your coverage amount, deductible, building and insurer.
What an HO-6 policy covers
The NAIC describes HO-6 as broad named-perils cover for the personal property of a condominium or cooperative unit owner, plus certain building items in which the owner may have an insurable interest. It gives no cover for the building itself beyond that interest. The building's master policy covers the structure and common areas, so the two policies sit side by side.
Your proprietary lease or the board decides the minimum cover you must carry and what the master policy leaves to you. Ask the managing agent for both before you buy.