Condo Insurance Facts

Before getting into what condo homeowners insurance covers, it’s important to understand what is covered by the association’s insurance policy. The condo association should have a basic insurance policy that covers liability for people injured on the condo grounds, provides coverage for the building or buildings and covers the general condo property (coverage varies by policy).

You have many choices in Florida for condo insurance coverage.  If you don’t know about how the different companies rate or what discounts they offer, we can help. We represent some of best condo insurance companies in the Sarasota, Bradenton, Venice and the surrounding areas.

Condo association insurance does not cover the interior unit (from the walls in), nor does it provide coverage for personal property damage inside the unit and it also does not provide liability coverage if someone is injured inside the condo unit.

Condo Homeowners Insurance Policy Coverages
Condo insurance provides coverage for damages that occur inside the unit (from the walls in) as well as any personal property inside the condo unit and liability coverage in case someone is injured inside the condo unit.

Condo insurance companies often excludes floods and any business use for a home office or for professional consulting services and personal injury while on the property from the policy.

Additional Coverages Available for the Condo Policy
You may also be able to purchase additional coverages for the condo homeowner’s insurance policy.

  • Purchase replacement cost to cover personal belongings. Replacement cost coverage is more costly but it doesn’t depreciate the items in your home. A policy may also allow items to be scheduled such as collectibles, jewelry,  electronics if increased limits of coverage for valuables is required.
  • There are a range of deductible options and discounts that can help policyholders save money on insurance. Most of the condo owner insurance policy discounts are the same as the standard homeowner’s policy, including discounts for alarms, smoke detectors, and multi-policy discounts. Condo homeowner’s insurance companies also offer some discounts specific to the condo owner, like having a doorman on duty in your building.
  • Flood and earthquake coverage maybe available to most condo owner insurance policies for an additional premium as well.


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