Florida Condo Insurance
In Florida, condo living is all the rage! Both inland and on Florida’s extensive coastlines, condominium properties are abundant and are the logical choice for many Sunshine State residents. Available in a variety of sizes and with an abundance of amenities, condos are suitable for single young professionals, couples just beginning their lives together, retirees, and those looking for a wise and often affordable investment.
Just like any home, condominiums need to be insured, and Olympus offers Florida condo insurance suitable for a wide variety of properties. However, condo insurance is a bit different from traditional homeowner’s policies. That’s because condominium associations usually carry master insurance policies of their own that cover building exteriors, common areas (walkways, lawns, parks), and sometimes items inside each unit that are not the owner’s personal property. Therefore, those shopping for FL condo insurance need to secure a policy that covers the portions of the unit that the association’s policy does not insure. In addition, a suitable condo insurance policy should protect all personal property (clothing, jewelry, furniture) from loss.
In some instances, an association’s Florida condo insurance policy does not insure the overall structure and, as a result, the condominium owner will need to purchase a traditional homeowner’s policy. Hence, it’s important for new owners to secure all the details of their insurance needs from their association upon signing an agreement of sale and to present them to an Olympus Insurance agent, who will be able to design an appropriate Florida condo insurance policy that meets the owner’s needs.
In most cases, proof of condominium insurance must be presented at time of settlement. This is because condo insurance protects not only the owner/inhabitants of the unit but also others in the building in the event of fire, flood, or other catastrophe. Most Florida condo insurance also contains a liability clause, which protects the customer against a lawsuit or claim filed by someone who may be injured while inside the condo or whose property may be damaged while they are on the condo premises. Ask your Olympus agent about liability coverage when obtaining a Florida condo insurance quote.
Because Olympus Insurance specializes in the Florida market, agents are well-versed in the particulars of Florida condo insurance and can custom design a policy to meet the needs of the homeowner, whether the condominium is a small unit in an inland residential area or a sizeable luxury penthouse condo with an ocean view.
Thanks to an abundance of experience and a keen knowledge of the condo market in the Sunshine State, Olympus agents can provide customers with comprehensive policies at competitive prices, providing condo owners with the coverage they’ll need for all their priceless possessions. Claims are handled quickly and efficiently with the goal of getting things back to normal as soon as possible. And for condo owners, that means peace of mind and the ability to carry on with everyday tasks without worry.