The ins and outs of Florida condominium insurance

While homeownersinsurance is an important consideration for anyone who owns their home or is paying off a mortgage, there are some situations in which standard homeowners insurance is not always applicable. If you have purchased a condo, for instance, it’s likely that you will need a couple of separate policies to ensure you are fully protected with Florida condominium insurance.

When purchasing a condo, you should be provided with some form of insurance by the condo association. This might be called the “master policy” and it covers shared areas in the dwelling such as the basement, elevators, lobby, halls and rooftop. The insurance should cover any damage to these areas and it’s likely to also include liability. Always ask your condo association for a copy of the policy if it has not been provided.

Secondly, you’ll want to purchase Florida condominium insurance to cover your personal possessions, any internal improvements you might make to the property and living expenses should your home be damaged by any of the events covered by the policy. 

To ensure that you have the correct type and amount of insurance, always read your policy very carefully. Don’t be shy when it comes to asking to speak to an insurance agent who understands insurance for condos. Seeking expert advice can help ensure that you’ll be able to get the best insurance coverage possible for your living situation.