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Daytona Beach Lawyers > Blog > Property Damage / Insurance > Dos And Don’ts Of Condo Owners Property Insurance

Dos And Don’ts Of Condo Owners Property Insurance


Whether you choose to live in your condominium full time or rent it out either on a short or long-term basis, it is important to ensure you are adequately covered in regards to property damage insurance. Find out some of the dos and don’ts concerning these policies, which could impact your rights when filing a property damage claim.

Protect Your Rights In The Event Of A Condominium Property Damage Claim

Condominium homeowner’s insurance, otherwise known as an HO6 policy, helps to protect you when unexpected events happen, reimbursing you for losses you suffer. Insurance.com advises the following tips when purchasing a policy, which help protect your rights in the event of a claim:

  • Find out what your condo association master insurance policy covers. This generally protects the exterior of your unit as well as common areas. You pay for this coverage through condo association fees and can obtain a copy of your policy through building management or the condo board.
  • Determine the total amount of coverage you will need. You will want a policy that covers interior features, including carpeting, hardwood or tile floors, major appliances, and household fixtures. Your property damage policy should also cover personal belongings, including your furniture, home decor, clothing, electronics, and any potentially valuable antiques, artwork, or other collectibles you possess.
  • Look for a policy that pays replacement costs, rather than cash values. It is important to pay close attention to how the insurer will pay for your losses. Rather than selecting a cash value policy, which is based on the original cost of the item minus depreciation, look for a policy that will pay you what it will cost to repair or replace the item.
  • Get quotes from several insurance companies. Condo insurance can vary widely based on the insurer. As with any major purchase, shop around before making an investment.

What NOT To Do When Purchasing Condominium Insurance

Property damage insurance provides peace of mind and assurance that you will be covered in case of adverse events. The following are important don’ts, which can protect you in future claim:

  • Do not fail to research the company. Florida’s Chief Financial Officer provides a list of insurance rating services.
  • Do not downplay your risks: Before selecting an amount of coverage or deductibles, consider the likelihood of having to file a claim.
  • Do not overlook personal liability coverage. Personal injuries that happen in your condo can leave you paying out thousands in out of pocket expenses. Make sure your property damage policy includes personal injury protection.
  • Do not skim through policy documents. Carefully read and review your policy, so that there are no surprises in the event of a claim.

Let Us Help You Today 

If you are involved in a dispute over condo insurance coverage or need help in filing a claim, request a consultation with Bundza & Rodriguez. Give us a call or contact our Daytona Beach property damage attorney online today.



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