Florida Condo Insurance: What You Need to Know
Florida is home to hundreds of thousands of condominium units, from beachfront high-rises in Miami to Gulf-view properties in St. Pete. If you own a condo in Florida — whether as a primary residence or a vacation/investment property — a personal HO-6 condo insurance policy is essential.
Many condo owners mistakenly believe their HOA's master policy fully covers them. In reality, the association's policy typically covers only the building shell and common areas. Everything inside your unit — including your flooring, cabinetry, appliances, personal property, and your personal liability — is your responsibility.
What Does HO-6 Condo Insurance Cover?
A Florida HO-6 policy is designed specifically for condo unit owners. Standard coverage includes:
- Interior Unit Coverage (Walls-In): Covers the interior structure of your unit — flooring, walls, ceilings, built-in fixtures, and improvements you've made.
- Personal Property: Protects your furniture, electronics, clothing, appliances, and other belongings against covered perils like fire, theft, and certain water damage.
- Personal Liability: If a guest is injured in your unit or you accidentally damage a neighbor's property, this coverage handles legal fees and settlements.
- Medical Payments: Covers medical expenses for guests injured in your unit, regardless of fault.
- Loss of Use: If your unit becomes uninhabitable due to a covered loss, this pays for temporary housing and living expenses.
- Loss Assessment Coverage: This is critical — if your condo association levies a special assessment to cover a loss (e.g., hurricane damage to common areas), your policy can cover your share up to your policy limit.
Understanding Your Condo Association's Master Policy
Florida condo associations are required by law to carry a master insurance policy, but not all master policies are the same. There are two main types:
- "Bare Walls In" (Most Common): The master policy covers only the basic structure — concrete, framing, and building systems. Everything from the drywall inward is your responsibility.
- "All-In" or "All-Inclusive": Some associations carry broader coverage that includes fixtures and original finishes. Even then, your personal property and liability are not covered.
We recommend reviewing your condo association's declaration of covenants (the "Condo Docs") before selecting coverage levels. Our agents can help you interpret these documents so you're not over- or under-insured.
Florida Condo Insurance: Special Considerations
- Hurricane Deductible: Like homeowners policies, many Florida condo policies carry a separate hurricane deductible — typically 2–5% of your dwelling coverage.
- Water Damage: Pipe bursts and plumbing leaks are among the most common condo claims. Make sure your policy covers sudden and accidental water damage.
- Flood Insurance: HO-6 policies do not cover flooding. If your condo is near the coast or a flood zone, consider adding a separate flood policy.
- Short-Term Rental Use: If you rent your condo on Airbnb or VRBO, you may need additional coverage or an endorsement. Tell us how you use your property and we'll find the right fit.
- Loss Assessment Limits: Standard loss assessment coverage is often $1,000. We recommend increasing this to $25,000–$50,000 given Florida's hurricane exposure.
How Much Does Florida Condo Insurance Cost?
Condo insurance in Florida is generally more affordable than homeowners insurance because you're insuring less square footage and not the building structure. However, costs vary based on:
- Location (coastal properties cost more)
- Floor of the building
- Amount of personal property
- Coverage levels and deductibles
- Claims history
- Building age and construction type
A typical Florida condo policy starts around $100–$300 per year for inland units, with coastal and high-value units running higher. Contact us for an accurate quote based on your specific unit.