Estero, Florida Condo Insurance (Condominium Insurance)
Estero, Florida Condo owners require a unique type of insurance policy, different from homeowners or renters insurance. Condominium associations must carry insurance policies that cover the building, including interior and exterior common areas, and liability, but these policies do not cover the individual condo owners. It is necessary (if not prudent) to get a policy that will cover the interior of the condo unit and personal property from losses. What follows is a general guide including everything you will need to know about the details of the coverage you will require.
Estero, Florida Condo Association Insurance Policy
Before you can understand what your Estero, Florida condo owner’s insurance policy will cover, it’s good to clarify exactly what the condominium association insurance policy covers. The condo association for your building will cover things like liability protection for accidents and injuries that occur in the common areas, coverage for the exterior of the building or buildings, and coverage for the general condo property. The condo association policy will exclude coverage on the contents of your home, property damage occurring within your home, and liability claims in the event that someone is injured inside your home.
Estero, Florida Condo Insurance Basic Coverage
A typical Estero, Florida condo insurance policy will cover the interior structure of your condo and its contents. The policy will also provide liability coverage in the event that someone is injured inside your condo. There are some common exclusions that should be considered when seeking the right policy for your needs. For example, a basic policy will likely not include flood, personal injury to the homeowner liability, and business use for a home office. It is imperative that you ask your insurer specifically about these typical policy exclusions.
Additional Coverage for Estero, Florida Condo Insurance
Replacement Cost: Compensates you for the full cost of the damaged or stolen personal belongings rather a depreciated value. While this is a more expensive type of Estero, Florida Condo Insurance coverage, you will not be subject to the insurance carrier calculating a reduced value and it will allow you to purchase new model replacements for your stolen or damaged possessions.
Personal Property Floater: Individuals who wish to insure valuable items like jewelry, art, collections, furniture can elect to add additional Estero, Florida Condo Insurance coverage for specific items. A standard condo owner’s policy won’t cover extremely valuable items.
Estero, Florida Flood Insurance: For condominium complexes that are located in an area prone to, condo owners should weigh out the potential benefits vs. cost to add this extra coverage.
If you are looking for a quote for Estero, Florida Condo Insurance, give us a call and we can help.
Located in Estero, Florida; a family owned and operated business, Rider Insurance Group was originally established in 1999. We do not work for a specific insurance company; we work for you. We represent a carefully selected group of financially sound, reputable insurance companies, and we place your policy with the company offering the best coverage at a competitive price.