Your condo association’s master policy covers the building — but not your unit’s interior, personal belongings, or personal liability. A condo insurance policy (HO-6) fills those critical gaps and protects everything the association policy leaves out.
What Does Condominium Insurance Cover?
- Dwelling coverage for interior walls, floors, ceilings, and built-in appliances you own
- Personal property for furniture, electronics, clothing, and valuables
- Personal liability if a guest is injured in your unit
- Loss assessment coverage when the association levies a special assessment after a claim
- Additional living expenses if your unit is uninhabitable after a covered loss
- Water damage from plumbing failures within your unit
- Medical payments for minor injuries to guests in your home
- Replacement cost coverage on personal property
What the Association Policy Does NOT Cover
The master condo policy typically covers the building exterior, common areas, and the structure only to the “bare walls.” Your unit’s drywall, flooring, cabinets, appliances, and personal belongings are NOT covered. If a pipe bursts and floods your kitchen, you need your own HO-6 policy to pay for the renovation.
Loss Assessment: The Hidden Risk
If the association files a large claim and the master policy falls short, the board may levy a “loss assessment” against all owners. These assessments can reach tens of thousands of dollars per unit. Loss assessment coverage on your HO-6 policy protects you from these unexpected charges — one of the most overlooked benefits of condo insurance.
Get Condominium Insurance in Orlando, Florida
Insure USA, Inc. is an independent agency serving Orlando and all of Florida. We compare Condominium Insurance options from multiple top-rated carriers to find the best combination of price and protection for your situation. Call us at (321) 235-7377 or request a free quote online.