If you own a Florida condominium, then your condo will probably need to be covered by 2 separate insurance policies. The first policy is called an association master policy, which will cover the common elements of the building. This includes the roof, floors, elevators, parking lots, and everything else that you share with the other residents.
The association’s master policy may also cover certain items within your unit, such as fixtures and improvements, but that depends on the provisions which are written into each policy. To know what your association’s master policy covers, you can contact your insurance company.
The second policy which you must have is a unit owner’s policy. This will cover the items that are not included in the association’s master policy. This may include your furniture, unit improvements and upgrades, and other personal belongings.
Some policies also cover the need for additional living expenses. If your condo has been damaged and rendered unlivable, then you may be compensated for a hotel or rental home. Policies may also compensate for debris removal, and bringing your condo up to code.
Again, to fully understand your policy, you can contact a representative from your insurance company. Or you can consult an experienced Florida insurance claims attorney to have them review and interpret your policies’ fine print.
If you have recently suffered damage to your Florida condominium, you may need to file an insurance claim. To know exactly what is covered, and what actions to take, read our article, Florida Condominium Unit Owner Insurance Claims.
The Florida insurance claims attorneys at Falk & Falk know how important it is to you and your family to get the settlement you need in order to move on with your lives. Our Florida insurance claims attorneys have experience in helping victims of natural disasters—and other homeowners’ nightmares—recover from their loss.
One of our skilled Florida insurance claims attorneys can help you navigate the complex process of homeowners and hurricane insurance claims. Contact us today – 1-(305) 742-0878.