Condo Insurance

Condo insurance helps protect against repair costs and losses for a condominium. Condos have their own unique insurance needs that differ slightly from home insurance.

Why Should You Have Condo Insurance in Florida?

Even though your condo association has its own coverage, condo insurance can still be useful and may even be required by your lender. There are many things that your condo association won’t cover, such as water damage or someone getting injured at your property. Condo policies also help protect the interior of your unit and your personal property. Since each association‘s coverage is different an agent at A+ Insurance of Sarasota Inc can help you determine what your association policy covers and what you need for your own personal coverage.

What Does a Condo Insurance Policy Cover in Florida?

In many cases, your association policy will stop coverage after the exterior walls so you will be need coverage for the fixtures and interior walls, as well as your liability and personal property. Many policies include coverage for losses, including damage caused by a windstorm, smoke, vandalism, lightning, or fire. Your policy can also cover loss of use if you are forced to temporarily relocate while your condo is being repaired. It can also cover medical payments to pay for expenses for guests who have small injuries in your home. Policies may also cover loss assessments to help pay for the HOA’s assessment for a shared loss. This coverage comes in when there are losses caused by incidents your condo policy covers to save you money on what would otherwise be out-of-pocket expenses.

How Much Condo Insurance Do You Need?

Working with an agent can be the best way to determine how much you need. There is no right answer and the coverage you need will depend on the value of your belongings and your lifestyle. If you have a condo that is full of high-ticket items, then you are going to need more coverage.

Contact A+ Insurance of Sarasota Inc to get a quote on condo insurance.