The only way you can protect your belongings from accidents is by obtaining a condo insurance policy. We can help you choose the plan that meets your needs here at Reinas Insurance Agency in Florida. If something were to occur and you do not have the proper protection or coverage, you could suffer a great financial loss since you will be stuck paying for replacements out of your own pocket.
Condo Insurance Laws
Times have greatly changed because some time ago, Florida condo owners had to purchase condo insurance by law. Now, this is not the case anymore. However, the condo association that you purchase your condo under can require you to purchase coverage and may even have you show proof that the coverage you chose meets their limits. Make sure that you talk with your condo association prior to shopping for a policy so you know what to get.
Condo Insurance Coverage
Every condo owner will have different insurance needs. Some owners may need two different policies to meet and protect their investment. The first protection is given by the association. This is why it is important that you check with them to see what is covered and what is not. There is no one size fits all policy but here are some of the most common insurance coverage options:
- Replacement cost coverage for dwelling and contents
- Maximum limits up to $1,000,000 for contents and $1,000,000 for dwelling protection
- Liability and property coverage (if you decide to rent the condo)
- Increased loss assessment (with limits up to $5,000)
- Animal liability protection
- Hurricane deductibles
Condo insurance will cover the flooring, appliances, cabinets, interior, and even your personal belongings. The condo association’s policy will typically cover the exterior of the building such as the courtyards, walkways, laws, and common areas.
If you are in need of a quote, make sure that you visit our Reinas Insurance Agency website. We serve all residents of Florida.