Florida Condo Insurance For Unit Owners

What Is Condo Insurance?

Condo insurance, also called HO-6 insurance, protects your condominium unit and personal property. Unlike traditional homeowners insurance, condo coverage is designed specifically for condominium ownership, where the building exterior and common areas are covered by the association's master policy. Your condo policy covers everything inside your unit's walls, your personal belongings, improvements you've made, and your liability exposure. This coverage fills the gaps left by your condo association's insurance.

Why You Need Condo Insurance

• The association's master policy doesn't cover your personal belongings
• Protects improvements and upgrades you've made to your unit
• Covers liability if someone is injured in your condo
• Pays your portion of the association's deductible after a claim
• Provides additional living expenses if your unit becomes uninhabitable
• Required by mortgage lenders and often by condo associations

Common Coverages in Your Condo Policy

Dwelling coverage protects the interior of your unit, including walls, floors, ceilings, built-in appliances, and fixtures. Personal property coverage protects your belongings like furniture, electronics, clothing, and appliances. Loss assessment coverage pays your share of the association's deductible or assessments after damage to common areas. Liability coverage protects you if someone is injured in your unit or you damage someone else's property. Additional living expenses coverage pays for temporary housing if your condo is damaged and uninhabitable.

Understanding Your Association's Master Policy

Your condo association carries a master policy that covers the building structure and common areas, but understanding what it covers is crucial to avoiding gaps. Some associations have "bare walls" coverage that only protects the basic structure, while others have "all-in" coverage that includes fixtures and some improvements. You need to know what your association's policy covers to determine how much additional coverage you need. The Gordon Agency can review your association's master policy and ensure your personal policy provides comprehensive protection without unnecessary overlap.

What Special Considerations Apply in Florida?

Florida condo owners face unique risks, particularly from hurricanes and water damage. Many condo associations have high deductibles for hurricane claims, meaning you could be assessed a substantial amount after a storm. Flood damage isn't covered by standard condo policies or most master policies, so separate flood insurance may be necessary. Our experienced agents understand these Florida-specific challenges and can help you build complete protection for your condominium investment.