Florida Condo Insurance

We know that designing an effective Florida condo insurance package, that matches your individual needs, takes time and effort—not to mention someone who actually understands both the real estate and insurance industries.

It just so happens that we at Bob Lindsay Agency are one of Florida’s leading insurance specialists, and we pride ourselves in the ability to help condo owners access the coverage they both need and deserve.

Florida condominium insurance is a specific insurance policy designed to fit the unique needs of condo owners. Many confuse Florida condo insurance with a renter’s policy, because in fact both can provide personal property and liability protection; however, condo owners need to take into consideration the additional coverage that may be needed for the building based on their condominium association's overall master policy.

Typically your condo association will insure the building based on one of two approaches: bare walls or single entity. A "bare walls" approach means that the association will insure only the building including walls, the roof, floors, elevators, etc. The association is not responsible for insuring anything inside your unit such as appliances, cabinets, carpeting, wallpaper, plumbing, electrical wiring, etc. In comparison a “single entity" coverage plan means that your condo association will insure the building as well as particular fixtures inside of your unique unit including carpeting, cabinets and appliances. However, it’s important to remember that in both scenarios you are still left responsible for your own personal belongings and possessions.

So how do you determine how much coverage you need from your Florida condo insurance?

Keep in mind that you’ve worked hard to create a safe, inviting home—and you’ve also worked hard for what’s inside. Whether it’s your new high-definition T.V. or a family heirloom passed down among generations, your possessions are valuable.

When considering the level of security you want to get from your Florida condominium insurance, ask yourself:

• What is the association's responsible for insuring?
• What am I responsible for insuring?
• How much coverage do I need for my possessions?
• Do I have replacement cost or actual cash value coverage for my possessions?
• Are there policy limits for my valuables? Should I purchase more coverage for those items?
• Do I need earthquake or flood coverage for my unit or possessions?

Thankfully, Bob Lindsay Agency is here to help. We all these questions and varying degrees of liability and responsibility, it’s easy to feel a bit overwhelmed. At Bob Lindsay Agency we’ll take the time to help you determine exactly the amount of coverage you need, and will help to secure it at the most competitive rates available.

Give us a call, we’d love to help. Contact Bob Lindsay Agency today for more information on your Florida condo insurance options.