Carefully review your association’s master policy and have your Florida Home insurance agent go through it as well, explaining anything that you’re not sure of. Typically the association’s policy will cover the common areas such as the pool, clubhouse, and common walkways. If you live in a mid-rise or high-rise building, the policy also covers the roof, elevator and hallways, but if your condo is detached, a townhouse, or duplex, the policy may or may not cover your roof or siding. The association may also have insurance that covers sewage backups, water damage from leaks from faulty plumbing and water heaters. But generally the coverage is only for the bare walls and you’re responsible for the interior fixtures and structure of your unit. It’s vital to find out what you’re responsible for.

Your individual insurance coverage should cover your personal belongings from fire flood and other natural disasters and provide liability protection in the event someone is injured inside your home. Your policy should also cover the actual structure of the building if the master policy doesn’t cover it. You may be able to receive a discount if your unit has an alarm or sprinkler system. There are maximum limits to the amount of what your insurance company will pay for loss. Limits vary and depend on your policy. Additional coverage or higher limits for certain types of property might be needed.

Take the time to examine your individual Florida Home insurance coverage and ask your agent about exclusions to your policy and what additional coverage you need to supplement your basic homeowner’s policy. For example, a personal property rider may be needed to cover items such as valuable jewelry, furs, antiques and artwork. Or if you happen to live in an area that’s prone to floods or earthquakes, you may need to add that coverage to your policy. A standard condo homeowner’s policy doesn’t generally cover replacement cost which reimburses you for the full cost of replacing your personal belongings in the event of damage or theft.

Other damage and loss from certain occurrences that are not covered in a standard homeowner’s insurance policy are listed below:

Deterioration or contamination Land settling Nuclear hazard Infestation from insects and rodents Damage from domestic animals Loss of use of your home in the event of an explosion or fire Major damage to the building that is not covered under the association’s master policy Medical payments for individuals that are injured in your home If you rent out your property and damage, theft or injury occurs