The general rule for those who live in condominiums rather than houses is that the insurance will need to be tailored to take into account the differing circumstances. Usually all external pathways and structures (including common entertainment areas) are covered by the Condominium Association’s insurance. However the Association’s insurance generally stops at the exterior walls of the apartment and will not cover any damage or loss inside. It is therefore vital to obtain a Florida condominium insurance policy to give coverage for damage, loss or liability.
It is important to obtain the right condominium insurance for your needs and this may depend on the provisions of your association’s coverage. Usually a condo unit owner’s insurance will resemble that of a renter. Both will require financial protection for loss of possessions through such an event as a burglary or fire. However before purchasing separate condominium insurance, examine carefully the coverage provided in the association’s insurance. In some cases you may need to cover fixtures and fittings with your insurance.
You may also find that your association’s insurance will not give financial coverage for someone injuring themselves while in your apartment. A Florida condominium insurance policy should include insurance against this eventuality by providing coverage for liability. For more about how to obtain the right type of condo insurance to suit your needs, please don’t hesitate to contact one of our agents.