In Florida, it is possible that a hurricane or serious thunderstorm could lead to damage. Your condo, when caught in the storm, may have lost siding or had significant damage from falling debris.
As a part of a condo association, you want to make sure you won’t pay for any of the damage that you don’t need to pay for. You’re not sure, though, if you’re the one who is on the hook for the damage to your property or if the condo association has insurance to cover it.
In most cases, it will come down to your condo association agreement and your personal mortgage requirements. Many mortgage lenders in Florida require homeowners to have wind insurance, which would kick in and help with this kind of damage. Florida also requires condo associations to “use their best efforts” in obtaining windstorm insurance.
So, in this case, you may have your own personal insurance coverage as well as coverage through your condo association if you own your property.
Not necessarily. However, if damage is caused by a casualty (insurable) event, then the Florida Condominium Act does require the insurer to cover all damage. It requires the repairs to be of like kind and quality to the original specifications and plans of the property, as well.
Unit owners are responsible for covering anything within the unit. So, if there is damage outside of the property as well as damage inside, your own insurance may need to cover the damage inside your home while the condo association covers outside damage.
Like with homeowner’s insurance, remember that condo insurance only covers certain causes of damage. Sudden, accidental damage is typically covered, but you will need to look at the details of the policy to determine if the event is covered after your property is damaged.
If you have questions about the policy or aren’t sure why your claim was denied, it’s important to look closer into the law to determine if you have been treated unfairly by the insurance provider.