Condo Insurance

Condo Insurance Coverage & Endorsements – HO6

While not a comprehensive list, here are some of the basics of Condo Insurance, also known as an HO6 Policy. 

Dwelling Coverage A – This would more accurately be described as “interior dwelling coverage” for your unit. Where the association’s coverage stops, this coverage starts. Think of the entire build out of the interior of your unit, which can include plumbing, electrical, kitchen, bathrooms, light fixutres, etc. Imagine walking into your unit and seeing nothing but concrete or drywall and a completely blank slate. Our agents can help you determine the cost per square foot for your interior Dwelling Coverage A, which has skyrocketed in recent years due to rising building costs.

Contents/Personal Property Coverage C – If you moved to another house, everything you could take with you would be your Contents. Whether you cherish every last fork and picture and need the best coverage for your prized possessions, or you live a spartan lifestyle with few personal items, we will help you decide the appropriate type and amount of Coverage for your Contents. Replacement Cost or Actual Cash Value/Depreciation endorsements are both available. 

Loss of Use Coverage D – When claims happen, often a home is unlivable during repair and renovation. If this occurs, Loss of Use can pay to rent you another similar home, and continue your lifestyle without additional expense. Things like hotels, rentals, restaurants, etc. can be paid for out of this coverage until you are able to move back into your home.

Personal Liability E/Medical Payments F – We are no stranger to lawsuits in Florida, having the most litigious State in the nation when it comes to attorney/insurance litigation. Liability Coverage and Medical Coverages protect you and your hard earned assets. A Personal Umbrella Policy may also be necessary to add additional liability. Our experts can help you identify the level of coverage needed to protect all you’ve worked hard for.

Deductibles – Condo Insurance Deductibles are typically $500 or $1,000, though higher Deductibles may be available for reduced premium. 

Flood – It is important to note that Flood, defined as natural rising water, is NOT COVERED by Condo Insurance. Master Policies and associations MAY cover Flood, but in many cases the interior of your unit is NOT covered, and your contents are never covered by the Association!  We have multiple Flood Insurance options available under separate coverage.