Condominium insurance coverage is essential when you own property in Highland Beach, Florida, or any other part of the state.
When you first purchase a condominium unit, you are provided with a set of “condo documents” at closing. Those documents include the Declarations of the Condominium, Articles of Incorporation, Amendments, Rules & Regulations, etc. The documents will also explain the parts of the unit and building that are the responsibility of the unit owner and the condo association. In the event that you need to file a property damage insurance claim, it’s important to understand your insurance coverage. What Does Condo Unit Owner Insurance Cover? As a unit owner, your insurance policy typically covers your personal property and floor, wall, and ceiling coverings. Also, electrical fixtures, appliances, water heaters, water filters, plumbing fixtures, built-in cabinets, countertops, and window treatments. Coverage Usually Excluded In A Unit Owner Policy A unit owner’s policy does not cover drywall, plumbing, and electrical fixtures inside the walls or above the ceiling. Also excluded from a unit owner’s policy are roof coverings, windows, and exterior doors, as well as any common elements that are the responsibility of the association. Although your condominium documents may state the unit owner is responsible for some of these items, the Florida Statute says otherwise. Read your condo documents to ensure you have the right coverage in your policy. Who Should File An Insurance Claim Depending on what portion of the building is damaged and what caused the damage will determine if you or the association should file an insurance claim. When there is damage to the portions of the building owned by the association, the association should file a claim with their insurance company. If a unit owner sustains property damage to the interior of their unit, depending on what caused the loss, will determine if the unit owner should file a claim with their insurance company. Reliant Insurance Adjusters has the knowledge and experience to understand the complexities of insurance policies and condo documents. We handle new, underpaid, and denied claims. Contact us today to help you with your claim or for a free insurance policy review.
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AuthorKaren Schiffmiller Archives
November 2024
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