As the frequency of tropical storms and hurricanes increases in Panama City Beach, FL, many residents wonder if they have adequate insurance protection. If you live in a condominium building, you may be uncertain about what damages your association would cover and what would be your responsibility. Hall Insurance can help clarify your obligations and the coverage you should have.
Your Condo Association’s Responsibilities
Condo and townhome owners should refer to their homeowner’s association (HOA) master insurance policy to determine what is covered under a tropical storm or hurricane peril. Typically, the HOA is responsible for ensuring the unit’s exterior, the roof, and all communal spaces. However, that coverage may have changed with the increasing occurrence of tropical events. Also, if you made improvements to your unit, like installing stronger windows, you may be responsible for paying for storm damage if those windows break. Always read the master policy to see if any additional responsibilities have been transferred to you.
Remember, you’re responsible for your unit’s contents. Take an inventory of your belongings to ensure you have adequate protection. These items, which could become damaged should the windbreak windows break and damage unit contents, include clothing, furniture, and electronics. Bear in mind that you may incur a significant deductible, as Florida law stipulates that hurricane and tropical storm deductibles are percentage-based and not a flat rate.
Consider Adding Flood Insurance
Regular insurance will not protect your personal belongings from floods. Consider adding flood insurance, especially if you live on the first floor or even the second floor if you are near the coastline, to protect your unit from storm surges.
The agents at Hall Insurance, serving Panama City Beach, FL, are ready to help you ascertain adequate tropical storm coverage. Call us today to get started on a policy.
