Condominium Insurance

No matter what kind of home you live in, chances are you need some kind of insurance. Homeowners have homeowners insurance, renters have renters insurance, but what do condo owners have? Bruening Insurance Agency is here to answer that question! 

What Is Condo Insurance? 
Condo owners need condo insurance—but what is it and how does it differ from homeowners insurance? Condo insurance is a policy that covers what your condo association’s master policy doesn’t. This could include theft, property damage inside your unit or someone being injured in your home. 

What Is HO-6 Insurance? 
HO-6 insurance is another name for condo insurance. HO-6 refers to the type of insurance policy form used to insure condos. For example, most homeowners have HO-3 policies and renters have HO-4 policies. 

What Does Condo Insurance (HO-6) Cover? 
Condo insurance policies typically include the following coverages: 

• Personal property coverage may help pay to replace furniture and other belongings if they are stolen or damaged due to an event listed in your policy.
• Additional living expenses or loss of use coverage can help cover the costs of hotel bills and other expenses if your condo becomes uninhabitable due to a covered event.
• Liability and medical coverage can help if you are sued for negligence or damaging someone else’s property. It may also help pay for medical costs associated with someone getting injured in your home.
• Dwelling or building property coverage can help cover your unit’s interior. 

Be sure to ask your property manager or condo board member for a copy of your association’s master policy. This will help you and your insurance provider decide what individual coverage you need. 

Condo insurance usually helps covers the following incidents: 

• Fire and smoke
• Explosions
• Wind
• Hail
• Theft
• Vandalism
• Lightning 

Is Condo Insurance Required? 
Condo insurance is not legally required, but your mortgage lender and/or condo association will most likely require it to protect their investments. 

Condo Insurance Quote in Fort Lauderdale and Miami, FL 

If you want to learn more about condo insurance, contact Bruening Insurance Agency. We have been providing first-class insurance for Florida residents since 1964.