Condo owners in Florida usually have property insurance coverage, as do condominium associations. After a covered event, how do you decide which insurer must pay?
Question: I am an owner of a condominium in Florida. There was recently a fire in an adjoining unit that caused damage to my unit. What is covered by my insurance policy versus the condominium’s insurance policy?
Answer: Generally speaking, the condominium association insures your building and the common elements of the building under an insurance policy, typically called the master policy. As a general statement, master policies cover the basic building (i.e., the walls, roof system, flooring, elevators, etc.) and not items associated with the individual units.
