Condo Insurance in Boca Raton

Condos are a popular choice in Boca Raton, Florida – a city known for its beautiful beaches, upscale communities, and vibrant lifestyle. 

Owning a condo in Boca gives you the benefit of homeownership without the burden of maintaining an entire property. However, while your condo association’s master policy covers the building and common areas, it doesn’t protect everything inside your unit.

And that’s where condo (HO-6) insurance in Boca Raton, Florida comes in. If you own a condo in Boca Raton, this insurance coverage may help you manage certain costs when unexpected losses occur.

Key takeaways

• In Boca Raton, condo insurance typically covers your personal belongings, interior fixtures, and liability, while the condo association’s policy covers shared areas.
• While not required by Florida law, lenders and condo associations typically mandate condo insurance.
• Standard coverage excludes floods, sewer backups, and normal wear and tear. Condo owners should consider including add-ons to address additional risks.
• You may be able to manage costs by increasing your deductible, bundling policies, improving home security, and shopping around.

Is condo insurance mandatory in Boca Raton?

Florida law does not require condo owners to carry their own insurance. However, in Boca Raton, most condo associations require unit owners to have insurance that covers the interior of the unit and personal property.

If you financed your condo purchase with a mortgage, your lender will typically require you to carry condo insurance (HO-6 policy). This helps protect both your financial investment and the lender’s stake in the property.

So, while not legally mandatory statewide (in practical terms), condo insurance is often required if you dwell in Boca Raton.

How is condo insurance different from home insurance?

Condo insurance is different from traditional homeowners insurance (HO-3 policy). Here’s how:

• Ownership responsibility: Condo owners only own the interior of their unit. The building’s exterior, common areas, and structural components are owned collectively by the condo association. On the other hand, homeowners are typically responsible for both the interior and exterior of their homes.
• Master policy vs. personal policy: Boca Raton condo associations carry a “master policy” that covers the building, roof, hallways, and shared amenities such as pools or gyms. Your condo insurance covers what the master policy doesn’t – like your flooring, cabinets, appliances, personal belongings, and personal liability.
• Cost difference: Since condos have shared coverage through the association’s policy, individual condo insurance premiums are generally structured differently than homeowners insurance for a single-family house.

How much is condo insurance in Boca Raton, Florida?

On average, condo insurance in Boca Raton is about $2,105 [1] per year. Your premium, however, will depend on several factors, including:

• Location: Condos closer to the beach or in flood-prone areas could have higher premiums.
• Building structure and age: Older condos often require more coverage due to aging infrastructure.
• Coverage limits: The more personal property and structural coverage you need, the higher the cost.
• Deductibles: Higher deductibles could lower your annual premium.
• Security features: Gated communities, security systems, and hurricane shutters may be considered favorably by some insurers.

Compared to single-family home insurance in South Florida, condo insurance can be priced differently. However, since Boca Raton is in a hurricane-prone region, insurance costs are still higher than the national average.

With that in mind, here’s how condo insurance costs could vary across the city:

• Coastal & beachfront condos (East Boca Raton): Properties near the ocean or Intracoastal Waterway usually face higher premiums because of the increased risk of hurricanes and flooding. In many cases, waterfront condos are also required to carry separate flood insurance.
• Urban & inland areas (Central or West Boca Raton): Condos farther from the coastline often see lower insurance costs. While these properties are still exposed to strong winds during storms, they typically face less direct risk from flooding or storm surge.
• High-risk zones: Condos located in designated flood zones or areas especially vulnerable to hurricanes often face the highest premiums. 

What does condo insurance cover in Boca Raton?

A typical Boca Raton HO-6 policy includes several types of coverage, such as:

• Dwelling (interior unit coverage): This protects the inside of your condo unit, including items like floors, built-in cabinets, countertops, and any upgrades or improvements you’ve added. If a storm, fire, or other covered event damages these areas, your policy helps pay for repairs.
• Personal property: Your belongings – furniture, clothing, electronics, and appliances – are covered under this part of the policy. If they’re stolen or destroyed in a covered event, you may be reimbursed for replacements.
• Loss of use (additional living expenses): If your condo becomes unlivable due to a covered incident, this coverage pays for temporary housing, meals, or other extra expenses while repairs are being made.
• Personal liability insurance: This insurance policy protects you if someone gets hurt inside your condo and decides to sue. It helps cover legal costs, settlements, or damages.
• Medical payments to others: Even if no one sues, this part of your policy pays for minor medical expenses if a guest is accidentally injured in your condo.

Boca Raton condo insurance coverage exclusions

While condo insurance in Boca Raton provides valuable protection, it doesn’t cover everything. Understanding what’s excluded is just as important as knowing what’s included. If you assume your policy covers all risks, you could face unpleasant surprises when disaster strikes. 

Below are some of the most common exclusions you should keep in mind:

• Flood damage: Standard condo insurance does not cover damage caused by flooding, whether from heavy rain, rising water, or coastal storm surge. Since Boca Raton is a coastal city that experiences tropical storms and hurricanes, flood insurance is commonly purchased separately in higher-risk areas. You could purchase it separately through the National Flood Insurance Program (NFIP) or private insurers.
• Hurricane storm surge: Many Florida insurance policies cover wind damage from hurricanes but exclude storm surge, which falls under flood insurance. This is a critical detail for Boca Raton residents, as storm surge is one of the biggest threats during hurricanes.
• Earthquakes and sinkholes: Florida isn’t known for earthquakes, but sinkholes are a risk in certain areas. Standard condo insurance doesn’t cover either, though you could buy separate riders if needed.
• Wear and tear or maintenance issues: Insurance is designed for sudden, unexpected damage – not gradual deterioration. If your A/C unit fails due to age, your policy won’t cover repairs.
• High-value items: While personal property coverage protects belongings, it often comes with limits. Expensive items such as jewelry, fine art, or collectibles are not fully covered unless you add special endorsements or schedule them separately.

Add-on coverage options

To fill the gaps in a standard insurance policy, many Boca Raton condo owners choose optional coverage options:

• Flood insurance: Often considered by owners near the beach, canals, or other flood-prone areas. It protects against water damage that regular policies exclude.
• Water backup coverage: Pays for damage caused by water backing up through sewers or drains, which could be costly and unpleasant.
• Umbrella insurance: This coverage provides an extra layer of liability protection beyond your condo policy’s limits, which some owners consider when they want higher liability limits.
• Loss assessment coverage: This helps cover your share of special assessments if your condo association needs to repair common areas after a major loss.

Tips on how to reduce the costs of condo insurance in Boca Raton, Florida 

Condo insurance is a common component of owning a condo, but it can feel expensive in Boca Raton; especially in South Florida, where weather-related risks drive premiums higher. Luckily, there are several smart strategies you could use to keep costs manageable, such as:

• Bundle policies: You may be able to manage overall costs if you bundle your condo insurance with other policies, such as auto or life insurance. Many insurers in Florida may offer multi-policy discounts.
• Raise your deductible: By agreeing to pay more out-of-pocket if you file a claim, you may reduce your annual premium. Just make sure the deductible you choose is an amount you could comfortably afford in an emergency.
• Install safety features: Insurance companies may take risk-reducing features into account. Adding features such as security alarms, reinforced doors, hurricane shutters, or impact-resistant windows not only protects your condo but may help lower your premium.
• Shop around: Rates vary widely among insurers, especially in a high-risk area like Boca Raton. Getting quotes from multiple companies can help you compare available options. Consider working with an independent insurance agent who understands the local market.
• Ask about discounts: Many insurers may offer discounts that are not always obvious. For example, you could qualify for discounts if you’re a senior, a non-smoker, a long-term policyholder, or part of a gated community. For accurate information about what discounts you qualify for, please contact your insurance agent.
• Maintain good credit: In Florida, insurance companies often use credit scores to help determine premiums. Paying bills on time and reducing debt could improve your score and may positively affect your insurance premium.
• Avoid over-insuring: It’s important to buy enough coverage, but not more than you need. Carefully assess the value of your personal belongings and the improvements in your condo so you’re not selecting limits that don’t match your needs.

Still have questions?

Here are answers to common questions about condos and condo insurance in Boca Raton, Florida.

Does condo insurance cover water damage?

Yes, but only for certain types of water damage. For example, if a pipe bursts in your unit, your condo insurance may cover the repairs and any damaged belongings. However, water damage caused by flooding, storm surge, or sewer backups requires additional coverage.

Do condominiums in Boca Raton, FL, hold their value?

Boca Raton’s real estate market has generally remained strong due to its desirable location, luxury lifestyle, and demand for coastal properties. Condominiums in prime areas, such as near the beach or downtown can perform well over time, especially in well-managed associations.

Is it better to own a condo or a house in Boca Raton, Florida?

This often depends on your lifestyle. Condos are ideal for those who prefer low-maintenance living, shared amenities, and central locations. Houses provide more privacy and land but require more upkeep. Both hold value in Boca Raton; however, condos typically offer a more budget-friendly entry point into the market.

Are condos in Boca Raton, FL, more expensive to insure?

Not necessarily. Condo insurance can sometimes cost less than single-family home insurance because the condo association’s master policy covers the building structure. However, because Boca Raton is a coastal city in a hurricane zone, premiums for both condos and houses are higher than the national average.

How much should you save before buying a condo in Boca Raton, Florida?

Many experts recommend saving at least 20% [2] of the condo price for a down payment. Plus, prospective buyers should also save enough for closing costs, moving expenses, and an emergency fund for insurance, HOA fees, and maintenance.

Sources:

1. Information from NerdWallet. 

2. Information from Central Florida Property Management.

Figures reflect averages from publicly available sources as of December 2025. 

This article is for informational purposes only and was compiled from sources not affiliated with Hippo. While we believe this information to be reliable, we do not guarantee its accuracy or completeness. For any insurance-related decision, please consult your licensed insurance producer.