Downsizing Your Homeowners Insurance in Florida

Are you downsizing from a single family home to a condo? If so, among the many changes you are probably experiencing are paring down your belongings and deciding what level of condo insurance is best for you and your new, smaller home. There are several factors that will determine what level of coverage you need compared to your previous homeowners insurance policy.

Your licensed public adjuster can review your plan with you and help you decide which level of coverage is best for you in your new home.

Here are 3 things to keep in mind when deciding on new coverage for your condo:

  • What You Own – Did you have a house that resembled a museum? Did you host parties? Was yours the home everybody gathered in? Often, when people downsize, they give valuables to family members, including antiques, jewelry, heirlooms and artwork. If you have done this, it can affect your insurance premium.
  • What you’re responsible for – When you own a single family home, you’re responsible for everything that happens in your home and on your property. When you’re in a condo, you’re typically responsible for your physical condo only. Check with your condo association’s Master Policy to verify where your responsibility ends.
  • Four Legged Friends – If you have a dog that qualifies as a ‘dangerous breed’, you probably paid a higher premium on your home owner’s insurance policy to cover the dog in case it bit or attacked. Check your condo policy to see if the same rules apply.

The tips above are among the many things you’ll want to consider as you transition from life as a home owner to life as a condo owners. Review your condo policy with your license public adjuster to get their recommendations.

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 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 insurance claim process and what we can do to help.

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