Condo Insurance 101
ALEXANDRIA Property Coverage:
The Alexandria Condominium has both property and flood insurance policies to cover all common elements, building structures, liabilities, etc. If you need a copy of the Association insurance policy, please contact Elim Services.
What You Need for YOUR Coverage:
Home Owner Insurance for a condominium in Florida is specific as to what your policy should cover. Of note, Florida Statute 718.111(f) sets forth the requirements of a condominium’s insurance coverage for the purpose of protecting the condominium. The Alexandria Condominium Association must provide primary coverage for:
All portions of the condominium property as originally installed or replacement of like kind and quality, in accordance with the original plans and specifications.
All alterations or additions made to the condominium property or association property pursuant to s. 718.113(2).
The coverage must EXCLUDE all personal property within the unit or limited common elements, and floor, wall, and ceiling coverings, electrical fixtures, appliances, water heaters, water filters, built-in cabinets and counter-tops, and window treatments, including curtains, drapes, blinds, hardware, and similar window treatment components, or replacements of any of the foregoing which are located within the boundaries of the unit and serve only such unit. Such property and any insurance thereupon is the responsibility of the unit owner.
This information was submitted by Harden Insurance, The Alexandria’s insurance agent, to help you and your insurance agent determine what you need to adequately insure your Alexandria home.
The Alexandria carries flood insurance for the common property. Your responsibility is from the paint into the interior. This chart, copyrighted by Bruce/GAB Robins, shows you what Association’s and owner’s insurance cover.
You may also find helpful information from these articles from FAIA, Florida Association of Insurance Agents, about insuring your condo with a personal flood policy.