A Short Yet Informative Guide to Condo Association Insurance

Whether you believe it or not, many people out there find condominiums living an ideal solution to all their housing issues. The reason behind that is the benefit of ownership with the capability to rely on condo association insurance in Clewiston to maintain everything outside their home – including condo association insurance. 



More specifically, most homeowners associations or HOAs are solely responsible for procuring a master insurance policy that covers the whole property. While this sounds pretty straightforward to acquire, there is often confusion around where the insurance ends, and the unit owner’s condo insurance begins. Here in this post, we’ll discuss each crucial aspect you have to know, so hang on tight and keep on reading this post.

What Is Covered In Condo Insurance Policy?

Like any other building out there, condo buildings are vulnerable to property damage from unforeseen events like fires, storms, theft, and vandalism. A condo association insurance policy, also known as master insurance, provides property damage and liability coverage for the structure, the common areas, and the grounds. 

Here’s how it works: 

The structure 

There are three types of coverage that a condo association can choose from bare walls coverage, single entity coverage, and all-in coverage. In the bare wall coverage policy, the association will cover the structure of the condo unit up to the drywall. It also includes the exterior, framing, roofing, piping, insulation, and wiring. Single entity coverage includes all the items mentioned above, along with certain built-in properties, such as finishes and light fixtures. And the all-in policy coverage includes everything, including fixtures in individual units, appliances, and any possible improvements done by the owner.

The common areas 

If you haven’t guessed yet, let us tell you that condominium association insurance in Clewiston covers damage to shared spaces like hallways, exercise facilities, lobbies, pools, outdoor gathering spaces, and even parks. 

Tips To Get the Coverage Policy

Make sure to establish authority 

When making a decision, it is highly recommended that you designate a member or team of members of the association to come up with viable options for insurance providers. 

Recognize the association’s financial responsibilities

Recognizing the association’s financial responsibilities and restrictions can greatly help you narrow down the list of options. Once you make a final selection, the association will arrange a property inspection inclusive of all units, buildings, and structures to be insured. 

Understand the types of insurance policies

A condo owner needs to understand the different insurance policies available out there. Many policies are available, ranging from casualty insurance to public liability insurance. 

Know what is covered under the policy 

Policies can also range in specific items that are and are not covered. However, the association needs to know exactly what these items actually are. Knowing such details will allow the association to be confident and make a better decision. 

Final Thoughts 

Now that you know what condo association insurance in Clewiston is all about, it’s time to get your hands on the best policy that fits your condo. If you feel like this post was helpful in any sense, then make sure to “shout it out.”


Read Related Blog Here: https://johnperryinsurancefl.blogspot.com/2021/12/all-you-need-to-know-about-home.html

Location: 1008 W Sagamore Ave Suite 1, Clewiston, FL 33440, USA

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