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If you’re shopping for condo insurance in Alabama, you can expect to pay $655 a year on average. However, you can save by shopping around.
Our rate comparison for a condo insurance policy with $60,000 in personal property coverage, $300,000 in liability and a $1,000 deductible found that Alfa Corporation has the cheapest condo insurance in Alabama, with an average rate of $317.
Below, we’ll explore the cost of condo insurance in Alabama by company, coverage level and more.
Key Takeaways
- Condo insurance in Alabama costs an average of $655 annually or $55 a month.
- The cheapest company for condo insurance in Alabama is Alfa Corporation at $317 annually.
- Shop around and compare your options to find the best condo insurance in Alabama for your needs.
Average cost of condo insurance in Alabama
Our analysis of rates for a condo insurance policy in Alabama found that the average rate is $655 a year, which is $55 a month. That’s based on a sample policy with $60,000 in personal property coverage, $300,000 of personal liability coverage and a $1,000 deductible.
Condo insurance in Alabama costs $1 less than the national average rate of $656.
| Average annual premium | Average monthly premium |
|---|---|
| $655 | $55 |
Compare condo insurance rates in Alabama by coverage level
“Condo insurance provides a comprehensive and standardized package of coverages for the condominium owner. The insured gets coverage for both property and liability exposures, and even assessment coverages. Assessments can result after a neighborhood association suffers damage to a piece of commonly-owned property, such as the pool house or the leasing office,” says Brenda Wells, chair of the Department of Finance and Insurance at East Carolina University.
How much condo insurance coverage you need will impact what you pay for your policy. Below, we’ve gathered rates for condo insurance in Alabama at various coverage levels for comparison.
| Coverage level | Average annual rates | Average monthly rates |
|---|---|---|
| 40000 with 1000 Deductible and 100000 Liability and None Hurricane | $545 | $45 |
| 40000 with 1000 Deductible and 300000 Liability and None Hurricane | $554 | $46 |
| 60000 with 1000 Deductible and 100000 Liability and None Hurricane | $646 | $54 |
| 60000 with 1000 Deductible and 300000 Liability and None Hurricane | $655 | $55 |
| 80000 with 1000 Deductible and 100000 Liability and None Hurricane | $742 | $62 |
| 80000 with 1000 Deductible and 300000 Liability and None Hurricane | $751 | $63 |
| 100000 with 1000 Deductible and 100000 Liability and None Hurricane | $834 | $70 |
| 100000 with 1000 Deductible and 300000 Liability and None Hurricane | $844 | $70 |
Average condo insurance cost from top companies in Alabama
Condo insurance rates vary by company. We gathered rates from the top condo insurance companies in Alabama for comparison.
| Company | Average annual rates | Average monthly rates |
|---|---|---|
| Alfa Corporation | $317 | $26 |
| State Farm | $475 | $40 |
| Country Financial | $568 | $47 |
| Nationwide | $580 | $48 |
| Allstate | $607 | $51 |
| Auto-Owners | $783 | $65 |
| Farmers | $998 | $83 |
| USAA | $652 | $54 |
Note: USAA only offers coverage to military members, veterans and their families.
Condo insurance cost by city in Alabama
Where you live in Alabama also affects what you pay for condo insurance. Below are the average condo insurance rates for major cities in Alabama. The cheapest city for condo insurance in Alabama is Auburn at an average rate of $602 .
| City | Average annual rates | Average monthly rates |
|---|---|---|
| Auburn | $602 | $50 |
| Dothan | $605 | $50 |
| Tuscaloosa | $622 | $52 |
| Montgomery | $632 | $53 |
| Hoover | $640 | $53 |
| Birmingham | $662 | $55 |
| Decatur | $669 | $56 |
| Madison | $702 | $59 |
| Huntsville | $703 | $59 |
| Mobile | $783 | $65 |
Best condo insurance companies in Alabama
Rates aren’t everything; you want a condo insurance company with a good reputation for taking care of its customers, too. We analyzed rates, customer service ratings and financial stability scores to find the best condo insurance companies in Alabama.
| Company group | Annual premium | AM Best | NAIC rating | Insure.com rating |
|---|---|---|---|---|
| State Farm | $475 | A++ | 0.95 | 5 |
| Allstate | $607 | A+ | 0.9 | 4.52 |
| Nationwide | $580 | A+ | 0.87 | 4.52 |
| Country Financial | $568 | A+ | 0.26 | 3.25 |
| Auto-Owners | $783 | A++ | 0.33 | 3.04 |
| Farmers | $998 | A | 0.54 | 2.84 |
Frequently asked questions
Is condo insurance required in Alabama?
There is no state law that requires condo insurance. However, if you have a mortgage on your condo, your lender will require that you have a condo insurance policy.
What affects condo insurance costs in Alabama?
Condo insurance rates are affected by several factors, including where the condo is located, your credit history, how much coverage you need and claims history (both yours and the unit’s).
“A condominium is an individual unit inside a structure filled with adjoining residential units. The same factors that affect the rates on any other residential structure affect the rates on condominiums. The main things we look at in setting insurance rates are the building’s construction and safety features, the geographic location and the occupancy or use of the property,” Wells says.
What our expert says
Q: What affects condo insurance rates?
Brenda WellsChair of the Department of Finance and Insurance at East Carolina University.
"The same factors that affect the rates on any other residential structure affect the rates on condominiums. The main things we look at in setting insurance rates are the buildings construction and safety features, the geographic location, and the occupancy or use of the property."
Methodology
Insure.com commissioned condo insurance rates from Quadrant Data Services for condo (HO-6) insurance policies in all 50 states and Washington, D.C. Rates were fielded for a condo insurance policy with coverage levels of $40,000, $60,000 and $100,000 for personal property and at $100,000 and $300,000, with a $1,000 deductible.
Rates were fielded from 34,588 ZIP codes and 145 companies and were based on a good credit tier where credit is used in calculating rates.
Condo insurance cost in other states
Alaska$930/Year
Arizona$892/Year
Arkansas$801/Year
California$767/Year
Colorado$883/Year
Connecticut$646/Year
Delaware$407/Year
Florida$962/Year
Georgia$872/Year
Idaho$499/Year
Illinois$614/Year
Indiana$590/Year
Iowa$435/Year
Kansas$482/Year
Kentucky$476/Year
Louisiana$1,093/Year
Maine$362/Year
Maryland$642/Year
Massachusetts$669/Year
Michigan$651/Year
Minnesota$423/Year
Mississippi$765/Year
Missouri$485/Year
Montana$486/Year
Nebraska$542/Year
Nevada$620/Year
New Hampshire$502/Year
New Jersey$484/Year
New Mexico$408/Year
New York$656/Year
North Carolina$882/Year
North Dakota$373/Year
Ohio$573/Year
Oklahoma$1,071/Year
Oregon$633/Year
Pennsylvania$657/Year
Rhode Island$581/Year
South Carolina$569/Year
South Dakota$389/Year
Tennessee$616/Year
Texas$1,007/Year
Utah$668/Year
Vermont$289/Year
Virginia$548/Year
Washington$616/Year
Washington, D.C.$503/Year
West Virginia$373/Year
Wisconsin$527/Year
Wyoming$272/Year
Show more
Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at Insurance.com.
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On this page
- Average cost of condo insurance in Alabama
- Compare condo insurance rates in Alabama by coverage level
- Average condo insurance cost from top companies in Alabama
- Condo insurance cost by city in Alabama
- Best condo insurance companies in Alabama
- Frequently asked questions
- What our expert says
- Methodology
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