TL;DR
Original analysis
Community-association insurance is governed at three levels: the lender's warrantability standard, the state statute, and the association's governing documents. Boards and managers often treat the state minimum as the finish line. It is not. We classified the statutory property-insurance floor in every state and the District of Columbia against the standard Fannie Mae and Freddie Mac require for a warrantable condominium, which is 100 percent replacement cost with no coinsurance.
The result: only 11 jurisdictions have a statute that reaches that bar. 22 set a floor below it, most at 80 percent of value or actual cash value, and the District of Columbia at 90 percent. 18 set no statutory percentage at all. So in 40 of 51 jurisdictions, a master policy can satisfy the state code and still fall short of a lender review, which is the gap that quietly stalls unit sales and refinances.
11
jurisdictions meet the 100% replacement-cost lender standard
22
set a floor below it (80% of value, actual cash value, or 90%)
18
set no statutory replacement-cost percentage at all
| State | Vs. lender standard | Statutory property-insurance floor | Primary statute |
|---|---|---|---|
| Alabama | Below | 80% of ACV, condos (35-8A-313) | Ala. Code 35-8A-313 |
| Alaska | Below | 100% of ACV (AS 34.08.440) | Alaska Stat. 34.08.440 |
| Arizona | Below | 80% of ACV, condos only (ARS 33-1253) | Ariz. Rev. Stat. 33-1253 |
| Arkansas | No statutory % | No statutory percentage, coverage permissive (Ark. Code 18-13-117) | Ark. Code 18-13-117 |
| California | No statutory % | No statutory percentage | Cal. Civil Code 5806 |
| Colorado | Meets | Full insurable replacement cost less deductibles (CRS 38-33.3-313) | Colo. Rev. Stat. 38-33.3-313 |
| Connecticut | Below | 80% of ACV (Conn. Gen. Stat. 47-255) | Conn. Gen. Stat. 47-255 |
| Delaware | Below | 80% of ACV (25 Del. C. 81-313) | 25 Del. C. 81-313 |
| District of Columbia | Below | 90% of replacement cost (DC Code 42-1903.10) | DC Code 42-1903.10 |
| Florida | Meets | 100% replacement cost, appraisal every 36 months (718.111(11)) | Fla. Stat. 718.111(11) |
| Georgia | Meets | Full insurable replacement cost, condos (O.C.G.A. 44-3-107); non-condo HOAs have no statutory floor (opt-in POAA) | O.C.G.A. 44-3-107 |
| Hawaii | Meets | Full insurable replacement cost, incl. code-upgrade cost (HRS 514B-143) | Haw. Rev. Stat. 514B-143 |
| Idaho | No statutory % | No statutory percentage (Idaho Code 55-1517) | Idaho Code 55-1517 |
| Illinois | Meets | Full insurable replacement cost, incl. code-upgrade cost (765 ILCS 605/12) | 765 ILCS 605/12 |
| Indiana | Meets | Full replacement value, condos (IC 32-25-8-9); planned communities have no statutory floor (Homeowners Associations Act) | Ind. Code 32-25-8-9 |
| Iowa | No statutory % | No statutory percentage (Horizontal Property Act, Iowa Code ch. 499B) | Iowa Code ch. 499B |
| Kansas | No statutory % | No statutory percentage (K.S.A. 58-4601 et seq.; K.S.A. 58-3125) | K.S.A. 58-4601 |
| Kentucky | Below | 100% of ACV (KRS 381.9187) | KRS 381.9187 |
| Louisiana | Below | 80% of ACV (La. R.S. 9:1123.112) | La. R.S. 9:1123.112 |
| Maine | Below | 80% of ACV (33 M.R.S. 1603-113) | 33 M.R.S. 1603-113 |
| Maryland | No statutory % | No statutory percentage, set by declaration (Md. Real Prop. 11-114) | Md. Real Prop. 11-114 |
| Massachusetts | No statutory % | No statutory percentage (Mass. Gen. Laws ch. 183A, Sec. 10) | Mass. Gen. Laws ch. 183A Sec. 10 |
| Michigan | No statutory % | No statutory percentage (MCL 559.156; Mich. Admin. Code R 559.508) | MCL 559.156 |
| Minnesota | Meets | Full insurable replacement cost less deductibles (Minn. Stat. 515B.3-113(a)(1)) | Minn. Stat. 515B.3-113 |
| Mississippi | No statutory % | No statutory percentage, coverage permissive (Miss. Code 89-9-17) | Miss. Code 89-9-17 |
| Missouri | Below | 80% of ACV, condos (RSMo 448.3-113) | RSMo 448.3-113 |
| Montana | No statutory % | No statutory percentage (MCA 70-23-612) | MCA 70-23-612 |
| Nebraska | Below | 80% of ACV, condos (Neb. Rev. Stat. 76-871) | Neb. Rev. Stat. 76-871 |
| Nevada | Below | 80% of ACV (NRS 116.3113) | Nev. Rev. Stat. 116.3113 |
| New Hampshire | Meets | Full replacement value (RSA 356-B:43) | RSA 356-B:43 |
| New Jersey | No statutory % | No statutory percentage, coverage type named but not amount (N.J.S.A. 46:8B-14(d)) | N.J.S.A. 46:8B-14 |
| New Mexico | Below | 80% of ACV, condos only (NMSA 1978 47-7C-13) | NMSA 1978 47-7C-13 |
| New York | No statutory % | No statutory percentage for standard condos; qualified leasehold condos require full replacement cost (RPL 339-bb) | N.Y. Real Prop. Law 339-bb |
| North Carolina | Below | 80% of replacement cost (47C-3-113 condos / 47F-3-113 planned communities) | N.C. Gen. Stat. 47C-3-113 |
| North Dakota | No statutory % | No statutory percentage or replacement-cost standard (NDCC ch. 47-04.1) | N.D. Cent. Code ch. 47-04.1 |
| Ohio | Below | 90% of replacement cost, condos, raised from 80% of fair market value by SB 61 in 2022 (ORC 5311.16) | Ohio Rev. Code 5311.16 |
| Oklahoma | No statutory % | No statutory percentage, insurance permissive (Title 60, Section 526) | Okla. Stat. tit. 60, Section 526 |
| Oregon | No statutory % | No statutory percentage for condos (ORS 100.435); full replacement cost for planned communities, if reasonably available (ORS 94.675) | Or. Rev. Stat. 100.435 |
| Pennsylvania | Below | 80% of ACV (68 Pa.C.S. 3312, condos; 68 Pa.C.S. 5312, planned communities) | 68 Pa.C.S. 3312 |
| Rhode Island | Below | 80% of ACV (R.I. Gen. Laws 34-36.1-3.13) | R.I. Gen. Laws 34-36.1-3.13 |
| South Carolina | No statutory % | No statutory percentage (S.C. Code 27-31-240) | S.C. Code 27-31-240 |
| South Dakota | No statutory % | No statutory percentage (SDCL 43-15A-4) | SDCL 43-15A-4 |
| Tennessee | Below | 80% of replacement cost (Tenn. Code Ann. 66-27-413) | Tenn. Code Ann. 66-27-413 |
| Texas | Below | 80% of replacement cost or ACV (Prop. Code 82.111) | Tex. Prop. Code 82.111 |
| Utah | Meets | 100% of full replacement cost (Utah Code 57-8-43; 57-8a-405) | Utah Code 57-8-43 |
| Vermont | Below | 80% of ACV (27A V.S.A. 3-113) | Vt. Stat. Ann. tit. 27A, 3-113 |
| Virginia | Meets | Full replacement value (Va. Code 55.1-1963) | Va. Code 55.1-1963 |
| Washington | Below | 80% of ACV (RCW 64.90.470 post-2018; RCW 64.34.352 for 1990-2018 condos) | RCW 64.90.470 |
| West Virginia | Below | 80% of ACV (W. Va. Code 36B-3-113) | W. Va. Code 36B-3-113 |
| Wisconsin | Meets | Full replacement value, no percentage set (Wis. Stat. 703.17) | Wis. Stat. 703.17 |
| Wyoming | No statutory % | No statutory percentage (Wyo. Stat. 34-20-101 to 34-20-104) | Wyo. Stat. 34-20-101 to 34-20-104 |
51 jurisdictions (50 states and the District of Columbia). Every floor is drawn from the cited statute on that state's full page. Georgia and Indiana reach the full-replacement standard for condominiums specifically; Wisconsin requires full replacement value without a stated percentage. Educational reference only, not legal or insurance advice. Statutes are revised across legislative sessions, so confirm your building's obligation against the current statute.
See the full statutory picture on the HOA and condo insurance requirements by state table, or the source-cited fact corpus at /data.
Common questions
Not on its own. In 40 of 51 jurisdictions the statutory floor sits below the 100 percent replacement-cost, no-coinsurance standard that Fannie Mae and Freddie Mac require for a warrantable condominium. A master policy can satisfy the state code and still fail a lender warrantability review, which is what stalls unit sales and refinances. The state minimum is a floor, not a lender-readiness test.
Many states do not fix a replacement-cost percentage in the code. The required amount is set instead by the association's declaration and bylaws, and in practice by the lender warrantability standard. In those states the governing documents and the lender requirement, not the statute, define the number. This study counts those states honestly as having no statutory percentage rather than assigning them a figure.
Each jurisdiction was classified from the statute-cited property-insurance requirement on our state-by-state reference table. A state is counted as meeting the lender standard when its statute requires full or 100 percent replacement cost, below when it sets a percentage under 100 percent or permits actual cash value, and as no statutory percentage when the code sets none. Georgia and Indiana reach the full-replacement standard for condominiums specifically; Wisconsin requires full replacement value without stating a percentage and is counted as meeting the standard.
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