Category: Condo Insurance

Are you a condo owner in Florida? Protect it with condo insurance provided by Americas Insurance Associates.

Benefits of Condo Insurance

Condo insurance is a blend of coverage that protects your investment against perils such as theft, fire, accidental injuries to visitors, and living expenses if you are temporarily displaced from your home due to a covered peril. Your condo insurance policy covers you for things that are not covered by a master homeowners association policy.

As the owner of a condo, you do not own the building or land your home sits on, but you still need good insurance for your condo and personal possessions. You cannot depend on the homeowners association (HOA) master policy.

Each condo owner requires their own insurance policy to be protected properly.  

A condo insurance policy covers:

• ALE or additional living expenses, commonly known as “loss of use”, will help pay for extra living expenses such as meals, lodging, pet boarding, and laundry if you are unable to live in your condo due to a problem covered by your policy.
• Interior walls – this helps pay for repairs to the inside walls of your condo. Other inside items such as cabinets and built-in bookshelves are damaged by a problem covered by the policy.
• Liability coverage is for accidental injuries and damage to others’ property. Things such as a dog bite or your child kicking a ball through a neighbor’s window will be covered.
• Medical payments to others will cover medical expenses for minor injuries that occur in your condo, like a visitor who slips and falls on a wet kitchen floor.
• The personal property portion of the policy covers items such as furniture, electronics, clothing, kitchen utensils and appliances, jewelry, artwork, and musical instruments.

Reach Out To Us

If you own a condo in Florida or are thinking of purchasing one, contact the professionals at Americas Insurance Associates to obtain the coverage you need.

If you are a homeowner, it’s important to have homeowners insurance. But what if you live in a condominium? Do you need a different type of insurance? The answer is yes – condominium owners need condominium insurance. This type of insurance protects your belongings and covers damage to the building. Americas Insurance Associates in Florida can help you navigate this important coverage.

Here are some of the unique features of condo insurance:

It’s Sometimes Called "HO- six" Insurance

If you live in a condominium in Florida, you may have heard your insurance agent refer to your policy as "HO- six" insurance. This is just another way of saying that it’s a type of homeowners insurance specifically designed for people who live in condos.

HO- six insurance policies differ from standard homeowners insurance policies in a few key ways. For one thing, they typically cover things like your unit’s walls, floors, and ceilings – as well as any fixtures or appliances that are permanently attached to the unit. They also cover any common areas that the condo association owns.

Loss Assessment Coverage Is Important

One of the most important features of condominium insurance is something called "loss assessment coverage." This helps protect you in the event that you are held liable for damages to common areas or any special assessments levied by the condo association. Talk to an agent from Americas Insurance Associates to find out more about this policy.

Guest Medical Coverage

This feature helps pay for medical bills if a guest is injured while on your property. For example, let’s say your child has a friend over to play, and the friend falls down the stairs. If you have guest medical coverage, your insurance policy will help pay for any resulting medical bills – up to the limit of your coverage.

Personal Property Coverage

This feature helps protect your personal belongings in the event of a covered loss, such as a fire or theft. For example, let’s say your condo is burglarized and your laptop, TV, and jewelry are stolen. If you have personal property coverage, your insurance policy will help pay to replace these items – up to the limit of your coverage.

Contact Us Today

As you can see, condominium insurance is a unique and important type of insurance. If you own a condo in Florida, talk to your Americas Insurance Associates agent about getting the right coverage for your needs.