Your condominium association caries liability and property insurance on your building and its common areas to fully protect the unit owners, the association and its employees. It is your responsibility, however, to carry property and liability insurance covering the interior of your residence. This coverage is normally provided by a homeowner’s form of insurance policy. The management also suggests that your coverage include water damage insurance which would protect you from any claim damage from a unit owner below.
We would like to bring to your attention some important Information regarding the coverage provided by the Condominium Association’s Property Insurance Policy. The statues and laws in the state of Florida that govern Condominiums and Insurance, are very specific as to what the unit owner's responsibilities are and what the Condominium's responsibility are. It is standard practice and highly recommended that unit owners purchase Insurance for the contents and interiors of their units, This Is not something that Is Included in your closing or your mortgage; it is something that needs to be purchased by the unit owner to protect everything inside your apartment. The condominium insurance policy only covers the common areas; and inside of the units from the sheet rock back. The best way to understand what the responsibility of the Association is; Is to know what is NOT covered by the Association's property policy.
According to Florida Law (F,S 718.111 (11)(f)3) the Association's policy must exclude:
- All personal property within the unit (clothes, computers, electronics etc.)
- Floor, wall and ceiling coverings
- Light fixtures
- Electrical fixtures, appliances, water heaters, water filters, built-in cabinets and counter tops and window treatments
- Curtains, drapes, blinds, hardware, and similar window treatments
Such property and any insurance thereupon is the responsibility of the unit owner. You are not required to purchase Insurance by law, and by not having Insurance you choose to self-insure (meaning paying out of your own pocket).
There are personal insurance policies available to cover the above mentioned property. Also these policies provide liability coverage to provide payment for negligent acts against a Third Party's property or bodily injuries.
These personal Insurance policies come in handy especially when "Water arise from bursting pipes or backed up toilets. Sometimes when these events occur It's very difficult to determine who Is ultimately responsible for the damage, and in many cases each Unit Owner has to take care of their damages on their own.
Example: Toilet backs up causing damage to the unit where it occurred and two units below. The units have wood floor damage, carpet, furniture, cabinets. These items are not covered by the Condominium Association's property policy and if nobody Is found negligent each unit is responsible for their own damaged property.
Other scenarios in which Water Damage can occur and nobody be found negligent:
Pipe Burst, Sprinkler Discharge, Fire Fighters response and action.
Having a personal Insurance policy can alleviate the headache of not knowing what to do. The Insurance company can coordinate payment with all the other parties or other Insurance companies involved or simply pay the claim to the Insured unit regardless of who Is at fault.
We recommend that you to contact an Insurance Agent if you currently don't carry a personal policy to protect the property NOT covered by the Association's policy.