Condominium associations typically insure the building and common elements, and Florida law and the association’s documents set requirements.
What it generally covers
- The building and common elements
- General liability
- Directors and officers
- Crime
- Flood, where required or chosen
Where gaps often hide
- Hurricane deductibles that are a percentage of the insured value
- The line between association and unit owner responsibility
- Valuations that are out of date
Questions worth asking
- What is the hurricane deductible in dollars?
- When was the last insurance valuation?
- What are owners responsible for insuring?
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General information only. Actual coverage depends on your policy, and coverage is not in force until confirmed in writing by the agency.