Common Florida Condo Insurance Questions

If, like many senior citizens, you have considered spending mild winters in Florida and summers up north, you are most likely considering the ease of living that condos offer. Before purchasing a condo, make sure that you are aware of the insurance coverage differences as well as how you would have one of your residences prepared for a storm while you are not there.

Condo insurance is different from the standard homeowner’s insurance because as a condo owner, you are normally required to carry insurance only on your unit. The yard, as well as surrounding and common areas, are normally covered by the condo company or the homeowner’s association that maintains it. Insurance requirements differ from complex to complex so it’s important to ask your association and your public adjuster about your condo insurance policy requirements and coverage.

Here are some of the more common insurance questions that condo owners have:

• Does my association’s policy cover my condo and belongings? Your association’s insurance covers parts of the building structure but generally does not cover your personal belongings (e.g. furniture, clothing and electronics). Your condo insurance policy will help with repair or replacement of your property should you suffer damage covered by theft, fire or smoke, among other claims.
• What is not covered by my condo insurance? Most condo insurance policies cover your contents up to a certain value. Expensive items such as jewelry, silverware, and electronics may require additional insurance to cover replacement in case of a loss.
• How do I file a condo insurance claim? Call your public adjuster. Gather as much information as possible regarding your loss. Even if you do not have all of the details, calling as soon as possible can speed up the process and you can always call back to add details to your open claim. Your public adjuster can guide you in the right direction and will tell you what information they need to properly notify your Insurance Company of your claim and complete your condo insurance claim.
• What can I do to speed up my condo insurance claim? Take an inventory of your belongings now. Include sizes of items (48”TV, for example), Model and Serial numbers, brands, colors, and any other information you have. Advocate Claims recommends taking a high degree of photographs, and/or a video walk through of your home as your describe your belongings. With digital recording devices and the Cloud, you no longer need to utilize a bank safety deposit box and rolls of film to do this. Simply use a free cloud based service, such as box.com, or www.dropbox.com to store your inventory details, preventing any potential damage or loss of the information. This inventory will be useful in verifying what you have and what it is worth should you ever suffer a loss. KnowYourStuff.org is a free home inventory software that can help with the basics of typing in your items and having a record of your belongings.

For over 10 years, Advocate Claims public adjusters have been helping condominium owners and associations get the condo insurance claim settlements they deserve. If your condo or condo building has recently suffered damages, Advocate Claims can help. Contact our Public Adjusters today at 954-369-0573 to speak with a licensed public adjuster about the condo insurance claim process and what we can do to help.