Content Insurance Coverage

Condo Homeowner’s Insurance in Fl?

“Coverage A (Dwelling) applies to the structure you inhabit. This would cover the dwelling, attached structures (such as a garage) and permanently installed property (such as wall-to-wall carpeting).”

“Coverage C (Personal property) applies to the content of the dwelling. There are dollar limits on specific items that you should be aware of because if your property exceeds these amounts, or no amount is specified, you should cover them for an agreed amount.”

I’m getting condo HO insurance quotes from different companies but i dont understand one thing: does HOA master policy cover bathroom vanities, appliances, and kitchen cabinets? If not, then does Coverage A Or Coverage C cover it? Because im not going to insure the condo for dwelling for $40k if the HOA master policy is going to cover it, that would be a waste of $$$, right?

Most of the time, you have to refer to the condo bylaws to see which parts are the unit owner’s responsibility. But if the cabinets, vanities, and major appliances ARE the unit owners responsiblity, the cabinets, vanities, and any built-ins would be under A, dwelling. C, contents, is only for things that you would, for example, take with you when you move.

Wallpaper, paint, wall to wall carpet, blinds, lightbulbs, light fixtures, built in refrigerators, stoves, microwaves, etc. are all dwelling.

Keep in mind, the MASTER policy likely has a deductible of $25,000 or even more – so even if there was a problem with YOUR UNIT that would be “covered” by the master policy, it could well be under the deductible – then you go back to the bylaws to see if everyone gets assessed to pay for it, or if you the unit owner are on the hook for it.

In other words, you need to sit down with an agent, and a copy of your bylaws, so they can go over everything with you, and the two of you can figure out what’s your responsibility.

John Lewis: Buying Home Insurance