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B & G Insurance

5600 SW 135 Ave, Suite 100
Miami, FL 33183

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Florida Condo insurance coverage
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Condo Insurance in Florida

Condo insurance refers to a policy taken by a condo unit owner in Florida to pay for general repairs around the condo and protect their belongings if vandalized or stolen. Taking condo insurance is not mandatory but considering one has invested in the condo and the belongings in it, they should strongly consider getting condo insurance.

Below are a few things covered by condo insurance:

Condo liability insurance

This insurance coverage will not only cover the holder or the owner of the condo, but it will cover his or her family members and even pets. Condo liability insurance is essential because accidents can happen at any time. If a family member or a friend is in your condo, and they accidentally get injured, they can file a lawsuit against you and sue for damages. With condo liability insurance, you do not have to worry about the medical costs or the damages because you do not have to pay them straight from your pocket.

Personal property and condo contents insurance

Your personal belongings in the condo are quite an investment. If they were stolen or vandalized, with condo insurance, you do not have to worry about replacement costs. The insurance company will replace them but only up to the limit of the policy. Items that can be replaced include clothing, jewelry, and furniture, among others. A long list of perils is covered including storms, fire, theft, vandalism, and lightning.

Loss of use coverage

This is one of the least known coverage options among condo owners in Miami, FL but it can be very valuable when one needs it. Some professionals also refer to it as additional living expenses. It comes into play when the condo is no longer habitable, and the policy owner has to seek another place to live. It covers the additional living expenses whether you are in Miami, FL or elsewhere in the state.

Condo insurance might not be compulsory according to the law, but it is very beneficial. If you have any questions about condo insurance, please visit B & G Insurance in Florida and talk to the experts.