Condo Insurance in Miami, FL

Your condo association's master policy covers the building's structure and common areas. It does not cover the inside of your unit, your belongings, or your personal liability. A condo unit owner policy, called an HO-6, fills that gap.

Miami has one of the largest condo markets in the country. We quote HO-6 policies daily and know how to read the association's declarations to make sure your coverage lines up with what the master policy leaves out.

What condo insurance covers

• Interior building items: flooring, cabinets, fixtures, drywall, and improvements
• Personal property: furniture, electronics, clothing
• Loss assessment: your share of a deductible or uncovered loss the association bills to owners
• Loss of use: living expenses if your unit is uninhabitable after a covered loss
• Personal liability and medical payments to others

What Florida owners should know

Florida law sets a specific split between the association's master policy and the unit owner's policy. In general, the association covers the building as originally built, and the unit owner covers floor, wall, and ceiling coverings, cabinets, countertops, appliances, and built in fixtures inside the unit. Loss assessment coverage matters more in Florida than most places because association deductibles for hurricane claims can be large, and owners get billed for the shortfall.

Water damage from a unit above or a common pipe is the most frequent condo claim in South Florida. Make sure your policy has adequate water damage limits and understand what your association's deductible is.

Common questions

How much loss assessment coverage should I carry?

Look at the association's master policy hurricane deductible and the number of units. Many Miami owners carry $25,000 to $50,000 or more. We can help you size it.

Does my mortgage lender require HO-6 coverage?

Most do, and many also require flood coverage for units in flood zones, even on upper floors.