Damage to Your Condo? Which Insurance is Responsible for Your Claim: Your Unit Insurance or the Condo Association Insurance?

FORT LAUDERDALE, Florida. If you own a condo, there are typically two types of insurance claims you might find yourself negotiating: your condo association’s insurance policy, also known as an HO6 and your individual unit insurance. According to SFGate, your association’s policy will generally cover common areas in your building and the building’s external walls. Any damages that occur inside your unit should be covered by your unit insurance policy.

Like homeowner’s insurance, most condo association policies don’t automatically cover the building for flood damage. If you are in a flood zone, your condo association will also be required to have a flood policy if your building is located in a flood area. Federal lending requirements also require condo associations to have coverage for bodily injury damages and property damage claims.

So, how do you know which claim you should be making? First, the association will generally make claims against the HO6, so individual condo owners won’t generally make these claims. However, if an association finds itself facing difficulties seeking a settlement from its insurance policy, it may seek out the assistance of an insurance claims lawyer like Leader & Leader, P.A. in Fort Lauderdale, Florida.

Your individual condo unit insurance protects you against damages to your condo’s interior and protects you against property loss and damage. So, if there’s a fire in your unit and your kitchen gets destroyed, your personal policy can repair the damages.

However, there are certain cases where the claims process might not be so clear. For example, if your condo’s floors are damaged due to flood waters, you’ll likely make a claim against your condo’s interior policy to repair the floors (depending on the source of water), while the HO6 will be responsible for repairing any problems with the building foundation that may be related to the flood damage (if your building has a flood policy). However, in the case of a flooded first-floor unit, there can sometimes arise disputes about which insurance policy is responsible. If there are damaged pipes, leaks and water damage stemming from leaks might be covered by the condo’s HO6, by your personal policy, and by the policy held by the owner of another unit. According to Value Penguin, in these cases, both the HO6 and your personal policy may cover damages.

It is also important to remember that condo association insurance has limits. While the limits tend to be high, buildings can suffer serious and costly damage that can sometimes exceed these limits. When these limits are reached, individual condo unit owners may be required to make up the difference in damages. Understanding your condo association’s HO6 insurance limits can help you understand what your personal liability might be should there be major damage to your building.

When it comes to these complex cases, it may be helpful to have an insurance claims lawyer like Leader & Leader, P.A. in Fort Lauderdale, Florida by your side as you negotiate the claims process.

Leader & Leader, P.A.
633 South Andrews Ave.
Suite 201
Fort Lauderdale, FL33301
Phone: 954-523-2020


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