UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549


                                FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934

For the quarterly period ended         September 30, 2000

                                                 OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934

For the transition period from                   to


                       Commission file number          0-15815


                     Krupp Insured Plus Limited Partnership


       Massachusetts                                     04-2915281
(State or other jurisdiction                 (IRS employer identification no.)
of incorporation or organization)


One Beacon Street, Boston, Massachusetts                    02108
(Address of principal executive offices)                  (Zip Code)

                                 (617) 523-0066
              (Registrant's telephone number, including area code)



Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

Yes   X    No



                              PART I.  FINANCIAL INFORMATION

Item 1.  FINANCIAL STATEMENTS

This Form 10-Q contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934.  Actual  results could differ  materially  from those  projected in the
forward-looking  statements as a result of a number of factors,  including those
identified herein.

                            KRUPP INSURED PLUS LIMITED PARTNERSHIP

                                        BALANCE SHEETS


                                            ASSETS





                                                                          September 30,           December 31,
                                                                               2000                    1999

Participating Insured Mortgages ("PIMs")
                                                                                        
   (Note 2)                                                           $      18,898,092       $      19,032,999
Mortgage-Backed Securities and
   insured mortgage("MBS") (Note 3)                                          18,930,343              21,918,397

   Total mortgage investments                                                37,828,435              40,951,396

Cash and cash equivalents                                                     4,260,548              13,002,087
Interest receivable and other assets                                            192,500                 319,994
Prepaid acquisition fees and expenses, net of
 accumulated amortization of $705,143 and
 $657,985 respectively                                                          139,109                 186,267
Prepaid participation servicing fees, net of
 accumulated amortization of $252,760 and
 $226,219, respectively                                                          78,292                 104,833

   Total assets                                                       $      42,498,884       $      54,564,577


                                              LIABILITIES AND PARTNERS' EQUITY


Liabilities                                                           $          15,003       $          19,550

Partners' equity

  Limited Partners
   (7,500,099 Limited Partner interests
        outstanding)                                                         42,533,980              54,522,528

  General Partners                                                             (251,329)               (241,347)

  Accumulated Comprehensive Income                                              201,230                 263,846

   Total Partners' equity                                                    42,483,881              54,545,027

   Total liabilities and Partners' equity                             $      42,498,884       $      54,564,577




                              The accompanying notes are an integral
                                 part of the financial statements.




                             KRUPP INSURED PLUS LIMITED PARTNERSHIP

                          STATEMENTS OF INCOME AND COMPREHENSIVE INCOME






                                                          For the Three Months               For the Nine Months
                                                           Ended September 30,                Ended September 30,

                                                         2000             1999              2000               1999
Revenues:
Interest income - PIMs
                                                                                              
Basic interest                                      $   348,558     $      534,946    $   1,067,804       $  1,608,194
Participation interest                                     -                 -               10,000                -
   Interest income - MBS                                382,188            469,560        1,302,183          1,437,736
   Other interest income                                 40,551             46,343          146,322            136,131

         Total revenues                                 771,297          1,050,849        2,526,309          3,182,061

Expenses:
 Asset management fee to an affiliate                    73,998             96,135          224,516            287,540

   Expense reimbursements to affiliates                  14,853             13,512           41,163             28,770
   Amortization of prepaid fees and expenses             24,951             25,263           73,699             75,793
   General and administrative                            34,246             28,251           87,304             67,557

         Total expenses                                 148,048            163,161          426,682            459,660

Net income                                              623,249            887,688        2,099,627          2,722,401

Other comprehensive income:

Net change in unrealized gain on MBS                     47,042           (102,487)         (62,616)          (300,532)


Total comprehensive income                          $   670,291        $   785,201     $  2,037,011      $   2,421,869


Allocation of net income (Note 4):

   Limited Partners                                 $   604,551        $   861,057     $  2,036,638      $   2,640,729

   Average net income per Limited
      Partner interest
    (7,500,099 Limited Partner
         interests outstanding)                     $       .08        $       .11     $        .27      $         .35

    General Partners                                $    18,698        $    26,631     $     62,989      $      81,672






                     The accompanying notes are an integral
                        part of the financial statements.




                     KRUPP INSURED PLUS LIMITED PARTNERSHIP

                            STATEMENTS OF CASH FLOWS




                                                                                        For the Nine Months
                                                                                         Ended September 30,

                                                                                      2000                1999
Operating activities:
                                                                                               
   Net income                                                                     $  2,099,627       $   2,722,401
   Adjustments to reconcile net income to net cash
    provided by operating activities:
      Amortization of prepaid fees and expenses                                         73,699              75,793

      Shared Appreciation Interest                                                     (10,000)             -
      Premium amortization                                                              53,923               3,022
      Changes in assets and liabilities:
         Decrease in interest receivable
          and other assets                                                             127,494              19,959
         Decrease in liabilities                                                        (4,547)             (6,697)

               Net cash provided by operating activities                             2,340,196           2,814,478

Investing activities:
    Principal collections on MBS                                                     2,871,515           1,064,155
           Principal collections on PIMs including Shared Appreciation
         Interest of $10,000 in 2000                                                   144,907             246,172

               Net cash provided by investing activities                             3,016,422           1,310,327

Financing activities:
   Quarterly distributions                                                          (4,348,028)         (4,360,204)
    Special distribution                                                            (9,750,129)             -

               Net cash used for financing activities                              (14,098,157)         (4,360,204)

Net decrease in cash and cash equivalents                                           (8,741,539)           (235,399)

Cash and cash equivalents, beginning of period                                      13,002,087           3,653,130

Cash and cash equivalents, end of period                                          $  4,260,548       $   3,417,731

Non cash activities:
   Decrease in Fair Value of MBS                                                  $    (62,616)      $    (300,532)








                      The accompanying notes are an integral
                         part of the financial statements.





                     KRUPP INSURED PLUS LIMITED PARTNERSHIP

                          NOTES TO FINANCIAL STATEMENTS


1.    Accounting Policies

Certain  information  and footnote  disclosures  normally  included in financial
statements prepared in accordance with generally accepted accounting  principles
have been condensed or omitted in this report on Form 10-Q pursuant to the Rules
and  Regulations  of the  Securities and Exchange  Commission.  However,  in the
opinion of the general  partners,  The Krupp  Corporation  and The Krupp Company
Limited Partnership-IV  (collectively the "General Partners"),  of Krupp Insured
Plus Limited Partnership (the  "Partnership") the disclosures  contained in this
report are adequate to make the information presented not misleading.  See Notes
to Financial  Statements  included in the  Partnership's  Form 10-K for the year
ended  December  31, 1999 for  additional  information  relevant to  significant
accounting policies followed by the Partnership.

In the opinion of the  General  Partners of the  Partnership,  the  accompanying
unaudited  financial  statements  reflect all  adjustments  (consisting  of only
normal  recurring  accruals)  necessary  to  present  fairly  the  Partnership's
financial  position as of September 30, 2000,  its results of operations for the
three and nine months ended  September  30, 2000 and 1999 and its cash flows for
the nine months ended September 30, 2000 and 1999.

The results of operations for the three and nine months ended September 30, 2000
are not  necessarily  indicative  of the results,  which may be expected for the
full year. See Management's  Discussion and Analysis of Financial  Condition and
Results of Operations included in this report.

2.       PIMs

At  September  30,  2000,  the  Partnership's  PIMs have a fair market  value of
$18,639,790  and gross  unrealized  gains and losses of  $41,726,  and  $300,028
respectively. The PIMs have maturities ranging from 2006 to 2034.

On  January  11,  2000,  the  Partnership  paid a  special  distribution  to the
investors of $1.30 per Limited  Partner  interest  from the  principal  proceeds
received  from the payoff of the La Costa PIM in the amount of  $9,746,923.  The
Borrower  defaulted on the first  mortgage  loan  underlying  the PIM in June of
1999. The Partnership continued to receive its full principal and basic interest
payments until the default was resolved,  because GNMA guaranteed those payments
to the Partnership.  Subsequent to the payoff, the Partnership  received $10,000
to release the subordinated promissory note. This payment has been classified as
Shared Appreciation Interest.

3.    MBS

At September 30, 2000, the  Partnership's MBS portfolio has an amortized cost of
$9,648,683  and gross  unrealized  gains  and  losses of  $207,994  and  $6,764,
respectively.  The  Partnership's  insured  mortgage  has an  amortized  cost of
$9,080,430. The portfolio has maturities ranging from 2006 to 2032.

The  Partnership  received a payoff from the Chateau  Bijou MBS on September 19,
2000 for  $2,266,064.  During October The  Partnership  received a 9% prepayment
premium  of  $203,946  from  this  payoff.  The  Partnership  will pay a special
distribution in November of $.33 per Limited Partner  interest from the proceeds
received.





                                      Continued




                         KRUPP INSURED PLUS LIMITED PARTNERSHIP

                             NOTES TO FINANCIAL STATEMENTS






4.    Changes in Partners' Equity

      A summary of changes in Partners' Equity for the nine months ended
      September 30, 2000 is as follows:




                                                                                    Accumulated         Total
                                                     Limited         General       Comprehensive       Partners'
                                                    Partners         Partners          Income           Equity

                                                                                         
Balance at December 31, 1999                     $ 54,522,528      $  (241,347)      $  263,846      $   54,545,027

Net income                                          2,036,638           62,989              -             2,099,627

Quarterly distributions                            (4,275,057)         (72,971)             -            (4,348,028)

Special distribution                               (9,750,129)           -                  -            (9,750,129)

Change in unrealized gain
 on MBS                                               -              -                  (62,616)            (62,616)

Balance at September 30, 2000                    $ 42,533,980      $  (251,329)      $  201,230      $   42,483,881










Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

Management's  Discussion  and  Analysis of  Financial  Condition  and Results of
Operations contains  forward-looking   statements  including  those  concerning
Management's  expectations regarding the future financial performance and future
events.   These   forward-looking   statements  involve   significant  risk  and
uncertainties,  including  those  described  herein.  Actual  results may differ
materially from those anticipated by such forward-looking statements.

Liquidity and Capital Resources

At September 30, 2000 the Partnership had liquidity  consisting of cash and cash
equivalents of  approximately  $4.3 million as well as the cash flow provided by
its investments in PIMs and MBS. The Partnership  anticipates that these sources
will be adequate to provide the Partnership  with  sufficient  liquidity to meet
its obligations as well as to provide distributions to its investors.

The  most  significant  demand  on  the  Partnership's  liquidity  is  quarterly
distributions paid to investors of approximately $1.4 million each quarter.  The
Partnership  currently  has a  distribution  rate of $.19  per  Limited  Partner
interest  per  quarter.  Funds  for the  quarterly  distributions  come from the
monthly  principal  and  interest  payments  received  on the PIMs and MBS,  the
principal  prepayments of the PIMs and MBS, interest earned on the Partnership's
cash and cash  equivalents,  and cash  reserves.  The  portion of  distributions
attributable to the principal  collections and cash reserves reduces the capital
resources  of the  Partnership.  As the  capital  resources  of the  Partnership
decrease,  the total cash flows to the  Partnership  also will decrease and over
time will result in periodic adjustments to the distributions paid to investors.
The General  Partners  periodically  review the  distribution  rate to determine
whether an  adjustment  is necessary  based on projected  future cash flows.  In
general,  the General Partners try to set a distribution  rate that provides for
level  quarterly  distributions.  Based  on  current  projections,  the  General
Partners  have  determined   that  the  Partnership   will  adjust  the  current
distribution  rate beginning with the  distribution  payable in February 2001 to
 .10 per Limited Partner interest per quarter.

In addition to  providing  insured or  guaranteed  monthly  principal  and basic
interest  payments,  the Partnership's  investments in the PIMs also may provide
additional income through a participation interest in the underlying properties.
However,  this  payment is neither  guaranteed  nor  insured  and depends on the
successful operations of the underlying properties.

On  January  11,  2000,  the  Partnership  paid a  special  distribution  to the
investors of $1.30 per Limited  Partner  interest  from the  principal  proceeds
received  from the payoff of the La Costa PIM in the amount of  $9,746,923.  The
Borrower  defaulted on the first  mortgage  loan  underlying  the PIM in June of
1999. The Partnership continued to receive its full principal and basic interest
payments until the default was resolved,  because GNMA guaranteed those payments
to the Partnership.  Subsequent to the payoff, the Partnership  received $10,000
to release the subordinated promissory note. This payment has been classified as
Shared Appreciation Interest.

The  Partnership  received a payoff from the Chateau  Bijou MBS on September 19,
2000 for  $2,266,064.  During October the  Partnership  received a 9% prepayment
premium  of  $203,946  from  this  payoff.  The  Partnership  will pay a special
distribution in November of $.33 per Limited Partner  interest from the proceeds
received.

The General Partners  currently do not expect either of the remaining PIMs still
held in the Partnership's portfolio to pay off during 2000. Royal Palm Place and
Vista Montana operate under long-term restructure programs. As an ongoing result
of the  Partnership's  1995  agreement to modify the payment  terms of the Royal
Palm Place PIM, the Partnership will receive basic interest-only payments on the
Fannie  Mae MBS at the rate of 7.875% per annum  during  2000.  Thereafter,  the
interest rate will range from 7.875% to 8.775% per annum through the maturity of
the first mortgage loan in 2006. The Partnership  also received its share of the
scheduled  $250,000  principal  payment in January 2000.  Although  occupancy at
Royal Palm  averaged in the low 90% range  through  1999,  it faces  significant
competition  from  neighboring   properties  that  have  changed  ownership  and
benefited from new capital investment in exterior and interior renovations.  The
Partnership  agreed in 1993 to change the  original  participation  terms and to
permanently  reduce the rate on the Vista Montana first  mortgage loan to 7.375%
per annum when construction was significantly  delayed. The borrower also raised
additional  equity at the time of the  modification  by selling  investment  tax
credits, which have been held in escrow and are used to fund operating deficits.
Although the property,  located in a suburb of Phoenix,  maintains  occupancy in
the low to mid 90% range,  revenues  generally  do not cover all  operating  and
capital costs, and the shortfalls are covered by the escrow.

The Partnership has the option to call certain PIMs by accelerating the maturity
date of the loans if they are not  prepaid  by the tenth  year  after  permanent
funding. The Partnership will determine the merits of exercising the call option
for each PIM as economic  conditions  warrant.  Such factors as the condition of
the asset, local market conditions,  interest rates and available financing will
have an impact on these decisions.





Results of Operations

The following  discussion relates to the operation of the Partnership during the
three and nine months ended September 30, 2000 and 1999.

Net Income  decreased by $264,000  during the three months ended  September  30,
2000  compared to the same period in 1999.  The decrease is primarily due to the
decrease in PIM basic  interest which resulted from the Lacosta PIM payoff and a
decrease in MBS interest income due to the principal collections received on the
Single Family MBS.

Net income decreased by $623,000 during the nine months ended September 30, 2000
compared to the same period in 1999.  The decrease is primarily  due to the same
reasons discussed above.

Item 3.           QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Assessment of Credit Risk

The  Partnership's  investments  in mortgages  are  guaranteed or insured by the
Government National Mortgage Association ("GNMA"),  Fannie Mae, the Federal Home
Loan Mortgage  Corporation  ("FHLMC") or the United States Department of Housing
and Urban  Development  ("HUD") and  therefore the certainty of their cash flows
and  the  risk  of  material  loss  of  the  amounts  invested  depends  on  the
creditworthiness of these entities.

Fannie  Mae  is  a  federally  chartered  private  corporation  that  guarantees
obligations  originated  under  its  programs.  FHLMC is a  federally  chartered
corporation  that guarantees  obligations  originated  under its programs and is
wholly-owned  by the twelve Federal Home Loan Banks.  These  obligations are not
guaranteed  by the U.S.  Government  or the Federal  Home Loan Bank Board.  GNMA
guarantees  the full and timely  payment of principal and basic  interest on the
securities it issues,  which represents  interest in pooled mortgages insured by
HUD. Obligations insured by HUD, an agency of the U.S. Government, are backed by
the full faith and credit of the U.S. Government.

The Partnership includes in cash and cash equivalents approximately $4.0 million
of commercial  paper,  which is issued by entities with a credit rating equal to
one of the top two rating  categories  of a  nationally  recognized  statistical
rating organization.

Interest Rate Risk

The  Partnership's  primary market risk exposure is to interest rate risk, which
can be defined as the exposure of the  Partnership's  net income,  comprehensive
income or  financial  condition  to adverse  movements  in  interest  rates.  At
September 30, 2000, the Partnership's  PIMs and MBS comprise the majority of the
Partnership's  assets.  As such,  decreases in interest rates may accelerate the
prepayment of the  Partnership's  investments.  The Partnership does not utilize
any  derivatives  or other  instruments  to manage this risk as the  Partnership
plans to hold all of its investments to expected maturity.

The Partnership monitors prepayments and considers prepayment trends, as well as
distribution requirements of the Partnership,  when setting regular distribution
policy.  For MBS,  the fund  forecasts  prepayments  based on trends in  similar
securities as reported by statistical reporting entities such as Bloomberg.  For
PIMs the  Partnership  incorporates  prepayment  assumptions  into  planning  as
individual  properties notify the Partnership of the intent to prepay or as they
mature.






                   KRUPP INSURED PLUS LIMITED PARTNERSHIP

                         PART II - OTHER INFORMATION





         Item 1.  Legal Proceedings
                  Response:  None

         Item 2.  Changes in Securities
                  Response:  None

         Item 3.  Defaults upon Senior Securities
                  Response:  None

         Item 4.  Submission of Matters to a Vote of  Security Holders
                  Response:  None

         Item 5.  Other Information
                  Response:  None

         Item 6.  Exhibits and Reports on Form 8-K
                  Response:  None





                               SIGNATURE



Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.



                Krupp Insured Plus Limited Partnership
                              (Registrant)



                BY:    / s / Robert A. Barrows
                       Robert A. Barrows
                       Vice-President  (Chief Accounting Officer) of
                       The Krupp Corporation,
                       a General Partner of the Registrant.



DATE:  November 3, 2000