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First Florida Underwriters Insurance blog

Will My Condo Association’s Property Insurance Cover Me Too?

Condo association insurance is mandatory for your building’s common areas and amenities. But what if you need to make repairs or improvements to your unit? Will your association’s insurance cover you too? What are the condo insurance regulations in Orange Park, FL? First Florida Underwriters Inc is here to help answer your condo insurance questions.

Doesn’t my condo association have insurance?

By Florida law, your condo association must have insurance that covers the common areas and amenities in your building. This does include everything "as originally installed" or "as originally constructed." That means the insurance policy must cover features included in the original plans for the building. The structure of the building and public areas is the association’s responsibility.

However, things you have added to your unit, from furniture and appliances to remodeling and fixtures, are all your responsibility.

What kind of insurance does a condo owner need?

Our state has a specific type of homeowners insurance for condo owners. It is called HO-6 coverage. This type of insurance typically covers the following perils:

  • Dwelling – This covers damage to parts of your unit’s structure, including walls, floors, and ceilings. It is also the section that covers remodeling.
  • Personal property – This covers damage to your personal belongings.
  • Loss assessment – This covers the cost of repairs to the building and common areas where it’s determined you’re partially responsible.
  • Personal liability – This covers liability claims against you if someone is injured on your property.
  • Loss of use – This covers the cost of renting a place to live while your unit is being repaired or rebuilt.

Am I required to have this coverage?

While it is not mandated by law in Orange Park, FL, many condo associations require this coverage as a condition of membership. Furthermore, most banks and mortgage companies need this coverage to issue a loan.

Have more questions? Reach out to First Florida Underwriters Inc today!