Flroida Insurance – Condominium Association Insurance
A Glimpse into the Distinct Types of Condominium Association Insurance
What insurance do I need to protect my condominium association?
Are you a Condominium Association Board position holder? Do you know what kind of insurance is protecting your condominium association? This is one of the biggest considerations on your budget and it’s worth a look to check into the coverage you have.
Since condominium insurance is not something that should be taken lightly, we encourage you to contact one of our Florida insurance agents so that we can review your current coverage at no cost to you. You may already have great coverage, but what could it hurt to have one of the experts review it for free, and provide some recommendations as to how you could make your coverage better?
Who is providing risk management for your Condominium Association?
What kind of relationship do you have with your Florida insurance agent? Does he call to make sure you are happy with your coverage, and to find out if any additional coverage needs to be added? Or, do you only speak with the agent when you call in a credit card payment for your policy? If the latter is the case, you may not have adequate coverage, or you may be overpaying for the coverage that you have. The only thing that is constant in this world is change, and if your agent doesn’t actively keep up on the changes within your association, you could run into some serious issues.
Is your policy being reviewed for exposer and GAP analysis annually?
Condominium Association regulations and policy coverages change from year to year. While the changes may be small, there are inevitably going to be big changes as well. Your Florida insurance agent at Marvel Insurance will do an annual review to make sure no change, big or small, is missed.
Is your insurance coverage compliant with Florida Statutes?
Just as Condominium Association regulations change each year, so do Florida Statues 718 and 720 as governed by the Florida Legislature. At Marvel Insurance, your Florida insurance agent can be trusted to be current on these statutes and will keep you compliant!
Florida Insurance – Condominium Insurance
Condo Property Insurance
Property insurance for your condominium will provide coverage for your buildings and facilities. Click here for more about property insurance for your condo.
Condo General Liability Insurance
If a lawsuit is filed against your condominium association, this is the kind of coverage you will need. Read more about general liability insurance for your condo.
Condo Flood Insurance
Make sure your flood insurance policies are analyzed frequently, as flood insurance charges and requirements change on the regular. Read more about flood insurance for your condo.
Condominium Umbrella Coverage
Umbrella coverage gives you extra security from major losses. Click here for more about umbrella coverage for your condominium.
Board Member and Employee Condominium Insurance
Condominium Officer and Director of Insurance
Your Condominium Association Board members are protected with this variety of coverage. If you don’t ensure that you have a Condominium Association Officer and Director Florida insurance policy in place, your individual board members can be sued in the event that they participate in a frowned upon action. What else can be risked? Your personal assets. Click here for more information on Director and Officers insurance for your board members.
Misconduct / Fidelity Bond
This type of bond ensures that the condominium association funds are protected as is required by Florida. Click here for more information about a Misconduct/Fidelity bond
In the event that any volunteers, contracted employees, or in-house employees sustain on the job injuries, Workers Comp insurance will have them covered. Click here for more information on Workers Comp insurance.