When considering condo insurance, Tampa residents should keep in mind that insurance for a condo is a different type of homeowners insurance. When moving into a new condominium or townhouse, one of the most confusing aspects of the move is what kind of insurance coverage is needed.
Dwelling: This covers the condo from the “walls in,” as well as any built-ins. Be sure to have your agent review how much of the structure is covered by your association, so they can tailor a policy protecting what you need while not covering things that are already insured by the association.
Personal Property: Like a homeowners or renters insurance policy, this covers the possessions inside your dwelling, like your furniture, clothes, electronics, appliances, and personal belongings.
Liability: Also similar to a renters or homeowners policy, this covers injuries sustained by visitors on your premises, or damage done by you, a family member or pet off your premises.
Please Note: For the liability portion of the condo insurance, Tampa residents should choose limits that are equal to or greater than their savings and other financial assets. If you need additional liability coverage, consider an umbrella policy.
Because condo insurance can be confusing and it can often be difficult to determine exactly what kinds of coverage you need, it is important to choose a licensed agency with the experience and resources to make sure you are getting exactly what you need at the best possible rates.
Cornerstone Insurance is an independent Florida insurance agency specializing in finding the right coverage for each individual client. Because we represent multiple insurance carriers, we have the ability to find you a condo owners policy that can be tailored around your specific condo association’s insurance requirements and save you money in the process. Since different associations have different insurance requirements from their members, we can review the master policy from your association and determine exactly how much coverage you are expected to carry.