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Florida Insurance Blog

The top exclusions condo owners should be aware of under their condo insurance.

If you are a condo owner in the Panama City Beach, FL area, you must understand what is covered by your insurance policy and what might be excluded. The agents at Hall Insurance have compiled a list of the most common exclusions in condo insurance policies. 

Condo Coverage Exclusions

Luxury items 

While your policy will cover your personal property, there may be an exclusion or small limits for items considered luxuries such as jewelry, fine art, or electronics. So, checking your policy to see if you have coverage for luxury items is essential. If not, you can often add coverage or take out a separate policy for those items. 

Floods and Earthquakes

A condo insurance policy will not cover claims due to a flood or earthquake. However, with events like floods and earthquakes becoming increasingly common, condo owners should consider taking out separate policies. 

Vacant condo 

If you do not occupy your condo full-time, it is essential to see if your policy covers you when it is vacant. It is common for insurers to exclude coverage if you do not occupy the condo for more than 30 days. So, if you are away from your condo for more than 30 days, please let your carrier know to ensure you have coverage. 

Failure to maintain 

One of the most important things you can do as a condo owner is to ensure you regularly maintain your home’s condition. If you suffer a loss due to failure to keep your condo maintained, your insurance carrier may not provide coverage. For example, if you do not repair an active leak and mold starts to grow, your claim may be denied. 

Any Questions? We Are Here To Help!

If you’d like to learn more about condo insurance coverage, you can contact an expert at Hall Insurance today. We proudly serve the Panama City Beach, FL area. 

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