Who This Coverage Is For
Condo insurance is for owners of condo units in a shared community. It protects your personal property, the inside features of your unit, and personal liability that the association’s master policy does not cover.
This coverage is important for unit owners who want to ensure their personal investments and financial responsibilities are protected, even if the building itself is insured on a whole-building basis.
Understanding Condo Insurance Coverage
Condo insurance works with the association’s master policy instead of replacing it. The association usually insures the building’s exterior and shared spaces, but you are responsible for everything inside your unit.
Common condo insurance coverages include:
- Interior unit coverage may include structural elements such as walls, floors, cabinets, fixtures, and upgrades, depending on your association’s rules. In addition, this coverage often extends to your personal property, including furniture, electronics, clothing, and appliances.
- Personal liability coverage can help pay for injuries to others or damage to neighboring units that you might cause.
- Loss of use coverage, helping with temporary living expenses if the unit is rendered uninhabitable due to a covered loss
Why Condo Insurance Requires Special Attention
Condo insurance needs careful review because both you and the association share coverage responsibilities. Gaps can occur if you believe the master policy covers more than it actually does.
Knowing where the association’s coverage ends, how deductibles work, and how your personal liability can extend beyond your unit helps you avoid uncovered losses or unexpected expenses.
Florida-Relevant Considerations
Many people in Florida live in condos, and insurance needs often depend on factors such as coastal risk, building construction, and association insurance structures.
If you own a condo in Florida, you may need to think about hurricane and storm wind risks, high deductibles that could be passed on to you after big losses, special assessments after large claims, and getting separate flood insurance since standard condo policies do not cover flood damage.
Since association policies and requirements can be very different, working with a local agency like Right Choice Insurance can help make sure your condo insurance matches your community’s coverage.