Florida Condo Insurance
Condominium ownership is a popular choice for experiencing the best of the Central Florida lifestyle. While a condo association is usually responsible for maintaining and insuring the buildings’ exterior and shared spaces, condo insurance helps you protect what your association’s insurance doesn’t cover – such as your unit and personal belongings. Many lenders require a condo insurance policy – known as “walls-in” or HO-6 insurance – that covers the interior walls, fixtures and personal property within your condo. Our Strassman Insurance Group agents are experienced in providing dependable coverage for condos and townhomes so you can enjoy all the amenities your community offers – without the maintenance and worry.
Protection on Several Levels
The articles of the condominium association and state law determine what’s covered under the association’s master insurance policy. The association’s insurance may cover the buildings themselves, commonly owned property and liability insurance for the association.
Florida condo owners needs an insurance policy that covers the following:
Personal property – Helps pay to repair or replace personal belongings, such as clothes, furniture, electronics and appliances if they are stolen or damaged/destroyed by a covered peril – such as fire, smoke, vandalism or accidental discharge of water (as from a burst pipe).
Building property – Provides protection for property in your unit other than personal possessions. This may include cabinetry, fixed appliances, interior walls and other fixtures. Property inside your unit that is considered yours (and your responsibility) is usually named in the condo association’s bylaws and/or master policy.
Liability – May help with costs if you are found liable for injury to another person or damage to their property while in your unit; or if you or another member of your household damages someone else’s property (such as a child accidentally breaking a neighbor’s window). Because of the prevalence of lawsuits in today’s society, the additional coverage that an umbrella insurance policy offers can provide valuable protection of your assets. Your Strassman Insurance Group agent will be glad to discuss this type of coverage with you.
Guest medical coverage – Covers the expenses of radiographs, ambulance transportation and other reasonable and necessary medical expenses if someone is injured in your unit.
Reimbursed living expenses – Reimburses you for additional living costs – such as temporary housing and food – if a covered loss makes your unit uninhabitable.
A few words about flood insurance: Flooding is becoming increasingly prevalent in Florida. Even areas that had never before experienced flood waters are now susceptible. If your condo is on the first floor, you may want to consider adding this protection. Your Strassman Insurance Group agent can discuss the risk with you, and help determine if flood insurance is a good precaution.