Condominium Insurance Claims

Florida is the condominium capital of the United States and condos present unique problems when property damage occurs.  Although the Association often owns the common elements such as the buildings, the walkways, swimming pools, clubhouses, lobbies, community rooms, and playgrounds, the Condominium Association's Master Property Insurance Policy will usually cover those items.  They sometimes even cover some interior unit-owner property such as drywall, flooring and kitchen and bathroom appliances.

However, the Unit Owner is often responsible to purchase a “Condo Unit-Owner's Insurance Policy” designed to cover any interior fixture not covered by the Association Master policy, in addition to covering the unit owner's furniture, clothing, appliances, TVs, and other personal property. Therefore, it is important to know what items the Association has taken responsibility for covering under their Master Insurance plan by reviewing the Declaration of Condominium and its bylaws, and matching that information to what the Master Policy covers.

Most Florida Condominium Insurance Policies will not cover routine maintenance, so the Association should build a sinking fund to have money on deposit that will pay for the cost of a new roof, new railings, along with providing funds for the maintenance of the grounds, parking areas and swimming pools. Unexpected, large un-insured expenses may result in each unit owner participating in a special assessment to cover their part of those costs.