Condo Insurance in Ocala, FL

Under Florida law (section 718.111(11), Florida Statutes), the association's property policy covers the condominium property as originally installed or replaced with like kind and quality, plus approved alterations. It must exclude your personal property and certain items inside your unit, such as floor, wall and ceiling coverings, electrical fixtures, appliances, water heaters, built-in cabinets and countertops, and window treatments. Those are your responsibility to insure.

A condo (unit owner) policy typically covers the items you're responsible for inside your unit, your belongings, personal liability, loss of use and loss assessment coverage. Exact coverage depends on your policy and your association's documents, so bring us a copy of both.

If the association has a covered loss and charges owners a share, loss assessment coverage can help pay your portion, up to your limit. Florida law (section 627.714) requires unit owner policies to include at least $2,000 of property loss assessment coverage for assessments from the same covered direct loss, subject to a deductible of no more than $250. Many owners choose a higher limit, so ask us what makes sense for your building.

Not by itself. The Florida Office of Insurance Regulation says most home policies don't cover flood, and that flood coverage is available for condo unit owners. An association may carry flood insurance on common elements, so ask what it covers and what it doesn't. Flood policies often have a waiting period, so plan ahead of storm season.

Many lenders require a unit owner policy. Check your loan paperwork or ask your lender, and send us the requirements so we can match them.

Yes. We focus on Ocala, Marion County and nearby towns, including The Villages, Lady Lake, Belleview, Summerfield and Dunnellon. Eligibility depends on your property (or vehicle) and the carrier. We'll review your options with you.