What Does HO-6 Condo Insurance Cover in Florida?
As a condo unit owner, you’re partially protected by the condo association ’s master policy. But there’s a catch: it doesn’t cover your unit or personal property.
Because life is unpredictable, you need condo insurance. It provides coverage if a fire, a hurricane, or another disaster damages your condo or destroys your belongings.
Your Condo Unit
The condo association’s policy protects the building’s outside structure and common areas. But it doesn’t cover what’s inside your unit. Luckily, a condo insurance policy does.
Dwelling coverage, or Coverage A, generally includes:
Carpeting and flooring
Cabinets and countertops
The coverage you need depends on the master policy. Talk to your condo association to find out what their policy covers to ensure you get enough insurance for your unit.
Your Personal Property
Condo insurance policies include personal property coverage. It protects your clothing, furniture, appliances, electronics, and other belongings.
Keep in mind your policy will have a coverage limit. Consider how much it would cost to replace your valuables to make sure you have enough insurance coverage.
Personal Liability Protection and Medical Coverage
Accidents happen. If you’re found to be legally liable for bodily injury to another person, you need liability coverage. Personal liability insurance may help pay for legal fees and medical bills if you’re responsible for the damage.
Condo insurance can also include medical coverage. It can make medical payments for expenses if someone hurts themselves in your condo, even if it’s not your fault.
Additional Living Expenses
The most common natural disasters in Florida are floods, hurricanes, tornadoes, and wildfires. If destruction from those events or other covered perils makes your condo uninhabitable, additional living expenses (ALE) coverage can help.
ALE, sometimes called loss of use, can reimburse you for extra housing costs, restaurant meals, and more if you can’t live in your condo while it’s being repaired.
You share many common areas with other condo owners. Loss assessment coverage can help pay for claims if there’s an accident in one of the shared spaces, such as the pool, hallway, or fitness center.