Condo Insurance vs Association: Who Covers What?

Panama City Beach, FL, is a great place to own a condo. If you have a condo or are considering one, you’ll want to know more about insurance. Condos are exceptional cases because the condo association covers insurance for many things. Yet, it would be best if you still had insurance for your unit. So, which policy covers what? We’ve used our experience at Hall Insurance to give you a quick overview of these differences.

Outside the Walls

First, remember that all policies are different, and everything is ultimately case-by-case. That said, condo association policies typically cover everything outside the walls of your unit. This includes the exterior of the walls, the building structure, and roofing.

It also includes common spaces and amenities outside your unit (like a pool).

Inside the Walls

Your personal condo insurance policy is usually designed to cover everything inside the unit’s walls. This usually starts at the studs and even includes interior drywall. Furniture, flooring, and other valuables inside your unit fall under the purview of your condo insurance (remember that not all individual items are covered by all policies).

Liability

The most complicated distinction in policy is liability. For the most part, liability still follows the inside/outside rule. If someone is injured in a common area, that usually falls under the association insurance. If someone is hurt inside your unit, it would fall under your condo insurance.

Remember that this is a general rule, and exceptions can and do exist.

With those distinctions in mind, you can browse condo insurance policies that cover the things you care about and protect you and your condo. You can talk with your Hall Insurance representative to get a deeper look at the specifics available. Your Panama City Beach, FL, condo can and should be protected.