If you own a condo in Florida, your insurance needs differ from traditional homeowners. Understanding the relationship between your personal policy and your association master policy is essential for proper protection.
What the Association Covers
Your condo association carries a master policy that typically covers:
- Building exterior and common areas
- Shared amenities (pool, gym, lobby)
- Roofing and exterior walls
- Basic structure of your unit (studs out)
However, association policies vary significantly. Some cover everything up to bare walls, while others include fixtures and flooring. Request a copy of your association certificate of insurance to understand exactly what is covered.
What You Need to Cover
An HO-6 condo policy typically includes:
Dwelling Coverage
Covers improvements and alterations you have made:
- Flooring, cabinets, and countertops
- Built-in appliances
- Bathroom fixtures
- Interior walls and paint
Personal Property
Covers your belongings:
- Furniture and electronics
- Clothing and personal items
- Kitchen items and appliances
Liability Protection
Covers you if someone is injured in your unit or you damage someone else property.
Loss Assessment Coverage
Critical for condo owners. If the association master policy does not fully cover a loss and they assess unit owners, this coverage pays your share.
The Gap Between Policies
The most common issue for condo owners is the gap between what the association covers and what you assume they cover. For example:
- Water damage from a unit above you
- Hurricane damage to improvements you made
- Theft of personal property
- Special assessments after a major loss
Your personal HO-6 policy fills these gaps.
Florida-Specific Concerns
Hurricane Deductibles
Both your association policy and personal policy may have hurricane deductibles. Understand both to know your total exposure.
Flood Insurance
Association flood policies typically cover common areas and the building structure. Your personal contents and improvements need separate flood coverage.
Loss Assessment Limits
Florida condos are especially vulnerable to hurricane damage. Consider higher loss assessment limits than the standard $1,000-2,000.
Tips for Condo Insurance
- Request and review your association insurance certificate annually
- Match your dwelling coverage to actual improvements and upgrades
- Consider water backup coverage (common in condos)
- Increase loss assessment coverage for hurricane-prone areas
- Create a home inventory with photos
Own a Florida condo? Learn more about condo insurance or get a personalized quote.
