Florida Condominium Insurance: What Extras Do You Need

If you have purchased a condo, you are likely to be required to ensure your home is fully protected by Florida Condominium Insurance. This will generally include a policy provided by your condo association, which insures common areas on the property. You’ll also purchase a private insurance policy to protect your home’s contents, its interior structure and the expenses associated with temporary accommodation in the event of a disaster. There are also a few extras you may wish to consider.

Unit assessment is an important component of your Florida Condominium Insurance. This provides financial coverage should you be charged with the cost of repairing a shared loss. If there is damage to the lobby or an elevator, for instance, all the condo owners within the complex might be charged with the cost of repairs. It’s important to check if this has been included in either of your policies. Another threat that is not always included in standard policies is water back-up. This is designed to cover you for damage caused by the back-up of drains and sewers. You may also wish to consider more liability coverage than that which is already provided in your condo association’s policy.