Condo Insurance: What are the Coverage Fundamentals?
Wherever your condo may be in Florida, be it along the Gulf Coast or near Miami, it's important to make sure you have the right coverage. If you live in a condominium, your Condo Association probably provides some level of rudimentary insurance coverage. Typically, condo association coverage is limited to one of the following three types of policy:
This usually and basically means the building's exterior is covered by the Condo's Association, but you are still responsible for the contents inside. This is where WhitCo Insurance Agency comes in.
What Does Condo Association Insurance Cover?
Condo Association coverage in Florida typically does features a small level of personal liability coverage. For most occupants, however, this coverage won’t offer sufficient protection against every possible liability.
For example, if one of your guests suffers an injury or property damage while in your condo, association condo coverage may not be sufficient to cover the damages—especially if you get sued and end up having to pay costly medical bills. Additionally, condo occupants themselves get no coverage at all for injury or property damage.
Know Your Condo Association Coverages
If you’re a condo owner in Florida, 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 the condo insurance and coverage from WhitCo Insurance you will need to gain maximum protection.
Condo Insurance Protects Your Assets
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 condominium from fires, wind and hailstorms, lightning strikes, theft, and other events not covered by the condo association coverage. Without the proper insurance policy from WhitCo Insurance can you afford to rebuild the interior of your condo from scratch while paying medical bills for anyone injured? Your policy through WhitCo Insurance will help assure you can cover the cost of repairing or replacing items following a covered incident. It could be the financial lifesaver you need.
What Are Condo Insurance Exclusions?
As with home insurance policies, condominium insurance doesn’t cover specific peril types: