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Condo Insurance

Condo Insurance: The Basics of Coverage

If you live in a condo, your Condo Association probably provides some level of rudimentary insurance coverage. Typically, such coverage is limited to one of the following three types of policy:

  • Coverage for the complex’s primary building and common areas
  • Coverage for each building and for items within each unit considered to be property of the condominium complex
  • Coverage for each building, each individual unit, and for any fixtures or improvements to the unit made by the occupant
Modern condos around the harbor of Port Everglades in Fort Lauderdale Florida

Condo Insurance Liability Coverage

Condo association coverage also typically features a small level of personal liability coverage. For most occupants, however, this coverage won’t offer sufficient coverage against every possible liability.

For example, if a guest suffers an injury or property damage while in your condo, association coverage may not be sufficient to cover the damages—especially if you get sued. Additionally, condo occupants themselves get no coverage at all for injury or property damage.

Condo Insurance Protects Your Investment

For most people, buying a condo represents one of the largest investments they’ll ever make. You wouldn’t dream of carrying insufficient coverage on your house, and sufficient condo coverage is just as important. Without it, you stand to lose almost everything in a disaster. Like solid home insurance, a comprehensive condo policy protects your assets, allowing you to more-easily recover and get back to a normal life when disaster strikes.

What Does Condo Insurance Cover?

With sufficient condo coverage, you can protect your condo from fires, wind and hailstorms, lightning strikes, theft, and other events not covered by association coverage.

Condo Insurance: The Basics of Coverage

As with home insurance policies, condo insurance doesn’t cover specific types of events:

  • Floods
  • Earthquakes and mudslides
  • Settling
  • Natural deterioration and neglect
  • Birds, rodents, insects, and domesticated animals

Know Your Condo Insurance Coverages

If you’re a condo owner, it’s crucial to know the types and amounts of courtesy coverages provided by your condo association. Understanding those built-in coverages will help you make informed choices regarding condo insurance and the coverages you need to gain maximum protection

Discounted Condo Insurance with Multiple Policies

If you purchase condo insurance through a Space Coast carrier, you may be eligible for discounts if you’re an existing Space Coast policyholder. Whether you’re an existing Space Coast customer or not, ask us about multi-policy discounts when you bundle condo insurance with other policies.

Contact Space Coast Insurance Agency, LLC, for a Free Condo Insurance Quote

If you’re shopping for condo insurance in Brevard county, we’d like to hear from you. As an independent Florida insurance agency, we partner with numerous insurance carriers, enabling us to do the shopping around on your behalf! This saves you time and money.

We’ll answer all your questions about condo insurance and help you make informed decisions regarding your coverage needs. For a free online condo insurance quote, click here, or call Space Coast Insurance today at 321-799-2929!