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Common Questions About Condo Insurance In Bradenton, FL

In Florida, condominiums are highly coveted residential properties. The properties are often situated near the beach or coastline. The locations lead to higher market values and a need for higher property insurance coverage. A local insurance agency provides answers to questions about Condo Insurance in Bradenton FL.

Do Condo Associations Provide Insurance?

Yes, condo associations provide insurance. However, the insurance coverage doesn’t apply to the interior of the condo. It is limited to the exterior of the condo and shared spaces within the condo community. It doesn’t offer liability coverage for damage inside the property or any losses of personal belongings.

What Does a Standard Condo Policy Cover?

A standard condo policy covers liabilities associated with the interior of the condo. It also applies to the condo owner’s belongings inside the property. The policies pay for any damage sustained during a covered event. Common events covered by the policies include but are not limited to hurricanes, tropical storms, tornados, and fires. Criminal acts such as vandalism and home invasions are covered if property damage is produced.

How are Accidents Covered?

Accidents that occur inside the property are covered by the owner’s condo policy. Any injuries sustained in shared spaces are covered by the condo association’s master policy. However, the master policy won’t cover incidents involving a condo owner’s pet. Any injuries related to a dog attack are managed by the pet owner’s policy.

Is the Coverage Required for Tenants in Rental Condos?

Tenants who are renting a condo purchase renter’s insurance in most cases. However, the terms of the lease indicate the type of insurance needed. Select rental property owners require condo insurance that covers more liabilities and property damage than renter’s insurance. Tenants are encouraged to review their lease when purchasing insurance.

In Florida, condos are an exceptional alternative to standard single-family housing. The properties are situated in communities and provide owners or tenants with extraordinary amenities. Among the amenities are clubhouses, swimming pools, and private access to the beach. The location of the properties also places them at a greater risk if a hurricane occurs. Condo owners who want to learn more about Condo Insurance in Bradenton FL visit for more info now.