Minnesota has approximately ~150,000 condo units. Average HO-6 (condo) insurance premium is $415/yr, or $28-$48/month. The dominant HOA master policy type is "Bare walls-in", and we recommend at least $45,000 recommended in loss assessment coverage.
Avg HO-6 Premium
$415/yr
$28-$48/month
Master Policy Type
Bare walls-in
Determines what YOU need
Loss Assessment
$45,000 recommended
Recommended limit
| Topic | Detail | Notes |
|---|---|---|
| Condo unit inventory | ~150,000 condo units | Tracks the size of the local condo market |
| Master policy form prevalence | Bare walls-in | Bare walls-in needs more individual coverage |
| Top HO-6 carriers | State Farm, Farmers, Allstate, Auto-Owners, USAA | Premiums vary 30%+ between carriers |
| Loss assessment recommendation | $45,000 recommended | Default $1K is dangerously low |
HO-6 premiums vary by master policy type, building age, deductible, and personal property coverage. Loss assessment claims have spiked since the Surfside 2021 collapse drove tighter inspection requirements in many states.
Minnesota's condo market is heavily concentrated in the Minneapolis–Saint Paul metropolitan area, with notable inventory in Bloomington, Edina, Plymouth, and growing urban neighborhoods like North Loop, Uptown, and Downtown Minneapolis. The state's condominium act requires HOA insurance on common elements, but bare walls-in policies are the norm for the Twin Cities' extensive mid-century and early-2000s condo stock. Minnesota faces severe weather on both ends of the calendar — hail and tornado season in spring and summer, and polar vortex conditions with extreme cold, ice dams, and frozen pipe bursts in winter. Both perils generate significant HO-6 claims annually.
Minnesota condo owners should carry at least $45,000 in Loss Assessment coverage given the frequency of hail claims on HOA roofs, which can generate large assessments. Frozen pipe and ice dam coverage is standard on Minnesota HO-6 policies, but confirm the policy does not exclude damage resulting from negligent maintenance. For Minneapolis high-rises with expensive common amenities, consider $75,000 in Loss Assessment coverage. Verify your master policy type — bare walls-in is most common — and set Coverage A to reflect the full cost to rebuild your unit's interior, which in newer Edina or downtown Minneapolis developments can easily exceed $150,000.
Your HOA's master policy covers the building's structure and common areas. Your HO-6 covers everything not insured by the master — typically interior walls, floors, fixtures, personal property, liability, and loss assessments. The MASTER POLICY TYPE matters most: in a "bare walls-in" building, you're responsible for drywall inward.
If a covered loss exceeds the master policy limits or deductible, the HOA charges each unit owner a special assessment. Loss assessment coverage on your HO-6 reimburses you up to its limit. Default is usually $1,000 — but post-2021 Surfside collapse and Florida's SB-4D inspection law, $50,000+ is now recommended for older buildings.
Minnesota Condominium Act (Minnesota Statutes §515B) requires HOA insurance on common elements; bare walls-in is the predominant form in the Minneapolis-St. Paul metro.
💡 Minnesota Pro Tip
Minnesota HO-6 premiums average around $415 per year, or $28–$48 per month. Minneapolis and Saint Paul condos typically run $380–$500 annually. Edina and Bloomington suburban condos are in a similar range. Downtown high-rises with higher-end finishes may approach $550–$650 per year.
Minnesota HOAs predominantly use bare walls-in master policies covering the building shell. Your HO-6 covers all interior improvements — drywall, flooring, kitchen and bath finishes, appliances — as well as personal property, liability, and loss of use. Minnesota's Condominium Act requires HOA insurance but does not mandate the form, so request and confirm the policy type with your association before setting your coverage limits.
Standard Minnesota HO-6 policies cover frozen pipe bursts, ice dam damage, and wind/hail damage. Hail damage to common building areas (roof, siding) is handled by the HOA master policy, but you may face a loss assessment for your share of the deductible — Loss Assessment coverage on your HO-6 is critical. Flood damage from spring snowmelt is excluded and requires a separate flood policy for condos in floodplain areas.
Condo inventory and premium estimates from state insurance department filings and NAIC condo market data, May 2026. Always verify your HOA's master policy form before purchasing.
Michael Torres
Editorial Lead, Catastrophe & Commercial Property
This article was researched and written by the Cover Forge USA editorial team against federal sources (NAIC, CMS, FEMA, DOL, SSA, state DOIs) and standard policy forms. Bylines organize content by topic — they do not assert individual licensure. See our editorial-policy for details.
Reviewed May 2026
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This site provides general educational information only and is not a substitute for professional insurance advice. All rates, data, and coverage details are estimates and may not reflect your actual premiums. Insurance availability and pricing vary by state, insurer, and individual risk factors. Always consult a licensed insurance professional in your state before making coverage decisions.