Condominium Insurance

Accidents can occur inside dwellings anytime, and condos are no exception. An insurance policy for your condo is essential to limit the financial burden of covering significant out-of-pocket expenses after an accident. 

What Is Condo Insurance? 
Condo insurance, commonly known as HO-6 insurance, involves a policyholder paying a premium to their insurance provider in exchange for financial assistance following an approved insurance claim. You will often be required to pay a deductible after an accident, which is an out-of-pocket cost you cover before your HO-6 policy assists you. Condo insurance is not legally required in Florida, but your lender may require you to maintain a policy if you’ve financed your condo. Your condo’s homeowners association may also require it. 

What Does Condo Insurance Cover? 
Coverages vary among policyholders, but standard condo insurance commonly includes policy options such as the following: 

• Dwelling coverage helps cover damage to the interior of your condo, including expenses related to weather damage and fires.
• Personal property coverage generally assists in covering expenses related to damaged or lost personal belongings, including clothing and furniture, that you keep inside your condo.
• Personal liability coverage can assist in covering medical bills or legal expenses if someone gets injured inside your condo.
• Additional living expenses covers living expenses, such as a hotel room, if damage occurs to your condo and you cannot live there while it’s being repaired or rebuilt.