Can Florida Condo Insurance Exclude Water Damage?

  • Water damage to the outside of the condo is usually covered by your condominium company’s main policy.
  • You are responsible for obtaining coverage for the interior of your unit and your personal effects.
  • Condo insurance does not cover water damage from flooding and lack of maintenance.

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Like home contents insurance, condominium insurance protects your home from water damage, fire, lightning, and storms. But if you’re a condo owner, you’re usually required to cover damage to your unit’s interior such as built-in appliances, personal property, liability claims, and additional living expenses that you may incur if your condo is temporarily uninhabitable.

The apartment owner is responsible for the outer shell of the building as part of the apartment cover. Your HOA’s outline policy will cover some water damage, but you may be responsible for other water damage depending on the situation.

Does condo insurance cover water damage?


Homeowners Insurance

The policy covers damage to your home if you are a homeowner. So you need

condominium insurance

if you live in a condo or coop, also known as HO-6. Condominiums are owned and managed by the condominium community. That being said, the HOA will have a master policy covering the building and common areas like the lobby or gym.

A standard homeowner’s insurance policy covers what your HOA doesn’t cover; for example your unit itself and your belongings. Your HOA framework policy can have “all-in” coverage that protects the entire home, including your indoor unit. It’s a good idea to check your condo’s joint insurance statement page to see if you need to purchase home insurance for the inside of your unit.

When does household contents insurance pay for water damage?

Water damage is usually covered if the damage is sudden and accidental. “Your condo insurance coverage can cover water damage caused by plumbing, appliances, water heaters and HVAC systems,” Progressive said.

Here are some of the instances when homeowner insurance will cover your water damage

  • Burst pipe: Homeowner insurance usually covers a burst pipe as long as the damage is covered in your policy. Routine maintenance by a home technician can help contain water damage.
  • Water is leaking out: Condo insurance can cover damage if water seeps through the roof and into your unit.
  • Mold: If the mold was caused by insured water damage, your homeowner’s insurance will reimburse you for it.

When does household contents insurance exclude water damage?

  • Flooding: Like home insurance, condo insurance does not cover water damage from flooding. You may need to purchase additional flood insurance to recover your condo from flood damage.
  • Lack of maintenance: Water damage caused by negligence will not be covered. Before damage occurs, take out a home warranty to cover repairs related to wear and tear.

Quick tip: According to Carolyn Boris, vice president of product development at Chubb Insurance, you can get flood insurance through the National Flood Insurance Program (NFIP) or from private insurers.

Does Florida’s Condo Insurance Cover Water Damage?

Major hurricanes and floods occur in Florida every season. As a Florida condo owner, you may be wondering if HOA covers water damage to your condo. Like policies in every other state, Florida homeowner insurance covers water damage as long as it’s a peril listed in your policy. And remember, condo insurance doesn’t cover damage due to flooding and lack of maintenance.

According to a 2019 report by the NAIC, Florida Condo Insurance’s annual premium is about $997 per year, which is nearly double the average statewide premium of $512. Weather-related risks and an increased claims frequency contribute to high insurance costs for Florida condominiums.

Quick tip: Installing an automatic water shut-off device can help prevent damage to your device, according to Boris. If you share water lines with neighboring apartment owners, consider installing individual water sensors around washing machines, sinks, toilets, and other water sources to alert you to water leaks.

How to report water damage to home insurance

If you do need to make a claim, says Stacey Giulianti, co-founder of Florida Peninsula Insurance, make sure you get photos and video of the damaged property. You should also note the date and time of the incident and any other information available.

“Each carrier has a listed phone number to call condo insurance claims,” ​​says Giulianti. Upon discovering the water damage, contact the insurance company immediately. The service provider should assist you in finding a professional in-house technician for water mitigation and dehydration services.

You should also contact your insurance company to inform them of the incident. They will hire a claims adjuster to inspect the damage and coordinate with the condominium company’s insurance company to work out coverage. You will then receive a claim number from the insurer to track the progress of your claim.

“Water damage is the leading cause of property damage in non-weather damage, says Boris. It is important to take steps to prevent this common event from damaging your condominium.

Alani Asis |

Fellow for Personal Finance Reviews

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