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Condo Insurance

If your condo is damaged, or a visitor is injured inside, you could face steep repair estimates, legal bills, and medical costs. You are also liable for damage to other units caused by accidents or faults with your condo. With so much potential for problems, high-quality condo insurance is a must-have. Protect your investment and your financial future with a low-cost condo policy from GreatFlorida Insurance.

What Does Condo Insurance in Florida Cover?

Condo coverage is what's known as a "walls in" policy. It covers the inside of your condo, but not the structure of the building. A robust condo policy is vital as you never know what can happen when you share a building with others.

Some of the most common parts of a condo policy include:

Interior Structure

Your flooring, walls, cabinets, and permanent fixtures are all covered from accidents and damage.

Personal Property

Your belongings are worth more than you realize. And it can be very costly to replace them. Protect your furniture, appliances, clothing, and collections with a policy that covers your personal propety.

Liability

Condo owners often know their neighbors. If someone is injured in your condo, you are liable for potential medical bills and legal costs. Liability coverage protects you from these unexpected bills and legal battles. It also ensures your injured guests get the medical care they need.

Loss of Use

If your condo is damaged, you may need to move out while repair are completed. An unexpected move can be expensive and traumatic for the whole family. Loss of use coverage offsets the cost of from living away from home during a claim when you can't live in your condo.

Loss Assessment

A valuable add-on for condo owners who share spaces, gardens, and elevators with others. Loss assessment protects against claims on shared property, covering you against unexpected expenses.

Water Damage

Failed plumbing and burst pipes are a common cause of disaster in older condo buildings. Water damage coverage helps you pay for the massive unexpected costs from water damage. Flood insurance is treated differently in Florida. Due to hurricane risks and heavy rainfall, condos are placed into flood zones according to risk. Ask your GreatFlorida agent about flood insurance requirements and federally backed policies to protect your Florida condo from flood waters.

Hurricane & Windstorm

The most feared season among Florida residents. Hurricane season spans half the year. Hurricane and windstorm coverage gives you peace of mind when summer rolls around.

A damaged condo balcony after a storm, illustrating hurricane damage coverage for condos.

Is Hurricane Damage Covered by Condo Insurance?

Damage to the exterior of your building during a hurricane should be covered by the condo association's policy. Hurricane related damage is often included in condo insurance policies, but talk to your agent to make sure you know what is covered.

A hand with coins on a scale, illustrating how a deductible works for condo insurance.

How Does a Deductible Work?

A deductible is the amount of money you agree to pay toward your loss or repairs before your insurance kicks in. The greater the amount of your deductible, the lower your premiums will be. Talk to a GreatFlorida agent about finding the right balance between low-cost premiums and your ability to pay a high deductible.

For some condo owners, a high deductible is not the best step as they won't be able to afford it in the event of a claim.

What Affects Condo Insurance Premiums?

Insurance rates are affected by a number of things, including:

An old condo building, illustrating age of building as a premium factor.

Age of the building

An older building is a potential hotspot for problems with plumbing and electrical issues.

Location

If your area has a high crime rate or suffers from natural disaster damage regularly, your premiums will be affected.

Personal circumstances

Your age, gender, and marital status all affect your insurance rates. Female residents and older married couples enjoy lower premiums for condo insurance.

Claims history

If you haven't made a claim before, you will benefit from better insurance rates.

A calculator with money, illustrating deductibles as a premium factor.

Your chosen deductible

The higher your chosen deductible, the lower your premiums will be. It is vital to find a balance between deductible and premium affordability.

Credit score

Your credit history affects your insurance rates. Owners with higher credit scores enjoy lower insurance costs. While you can't do anything about your age or marital status immediately, you can always take steps to improve your credit score.

Hero image of a luxury condo building, symbolizing personalized condo insurance in Florida.

Build Your Own Personalized Condo Insurance Policy in Florida

Get Prepared. Get GreatFlorida. Our agents make it simple to create a condo insurance policy tailored to your needs, protecting your unit and belongings from Florida’s hurricane risks. Enjoy cost-effective coverage with customized options from our trusted partners to safeguard your coastal or urban condo lifestyle.

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About GreatFlorida Insurance

GreatFlorida Insurance is a network of independent, franchised insurance agents located throughout Florida. With 142 locations state-wide, it is easy to find a GreatFlorida Agency in your neighborhood.

We provide 24-hour service, 7 days a week, 365 days a year, through our partnered insurance companies.

Our Independent, GreatFlorida Insurance Agents will help you find affordable Insurance in Florida for you and your family.

Florida's Condo Insurance Agency