Condominium insurance can be complex, with different coverage responsibilities and regulations depending on the state in which you reside. In general, a condominium owner’s insurance policy will provide coverage for the interior of their unit, while the condo association’s insurance policy will cover the building’s exterior and common areas.

However, the specific details of insurance coverage can vary significantly from state to state. It’s important to familiarize yourself with the laws and regulations in your state, as well as your specific condominium association’s insurance policies, to understand what types of damages are covered and by whom.

Coverage

In general, condominium owners are responsible for insuring the interior of their units, including their personal belongings and any upgrades they have made to the unit. This insurance coverage is typically referred to as HO-6 insurance, which is a type of homeowners insurance policy that is designed specifically for condo owners. HO-6 policies can vary widely in their coverage, but they typically cover damage caused by things like fire, theft, vandalism, and certain types of water damage.

The condominium association, on the other hand, is responsible for insuring the building’s exterior and common areas, such as the roof, walls, hallways, and elevators. This insurance coverage is typically referred to as a master policy.  A Master Policy it’s designed to protect the building and the association from liability in the event of property damage or bodily injury.

Types of Policies

There are two types of master policies that a condominium association may carry: a bare walls-in policy or an all-in policy. A bare walls-in policy only covers the structure of the building, leaving unit owners responsible for any damage to their unit’s interior. An all-in policy, on the other hand, covers everything in the building, including the fixtures and appliances in each unit.

Even with an all-in policy, the association’s insurance may not cover certain types of damage, such as damage caused by floods or earthquakes. Unit owners should understand what their association’s master policy covers and what they are responsible for covering themselves.

In some states, the laws and regulations regarding condominium insurance can be particularly complex. For example, in Florida, condominium associations are required to carry insurance that covers the full replacement value of the building, including any upgrades or improvements made by individual unit owners. This requirement can make insurance claims more complex, as unit owners may need to provide evidence of their upgrades or improvements to the insurance company in order to receive compensation.

Using a Public Adjuster

A public adjuster can be a valuable resource for condominium owners who need assistance navigating the complex process of filing an insurance claim. Public adjusters are licensed professionals who work on behalf of policyholders to help them maximize their insurance claims. They can help with everything from filing the initial claim to negotiating with the insurance company.  This helps to ensure that the policyholder receives fair compensation.

Public adjusters can be particularly helpful for condominium owners, as they can navigate the complex rules and regulations surrounding condominium insurance claims. They can also help unit owners determine what is covered by their own insurance policy and what is covered by the association’s policy. Public adjusters work with both the unit owner and the association to ensure that all parties are fairly compensated.

When working with a public adjuster, it’s important to choose a licensed and experienced professional who has a deep understanding of the insurance regulations surrounding condominium insurance claims in your state. Look for a public adjuster who has experience working with condominium owners and who has a proven track record of success in maximizing insurance claims.

In conclusion, navigating condominium insurance claims can be complex.  There are different coverage responsibilities and regulations depending on the state in which you reside. Condominium owners are responsible for insuring the interior of their units. The association is responsible for insuring the building’s exterior and common areas. It’s important for unit owners to understand what’s covered in their policies.

Contact Clarke & Cohen, Greater Philadelphia Public Adjusters, for your Condominium Insurance Claim at  (610) 668-0144