In Florida, condominiums are required to have a master insurance policy that covers repair or replacement to certain common areas such as:

  • roof
  • pool
  • tennis courts
  • landscaping
  • elevators
  • condominium structure
  • clubhouse
  • fitness centers

Some condominium master insurance policies may cover an individual unit's ceiling, bare walls and original flooring. It's also possible that the policy includes coverage for private balconies, porches, terraces and windows. You'll need to read the community's bylaws to determine the extent of coverage in your community. The monthly maintenance fees paid by owners pays for the policy.

Florida law doesn't require condominium owners to purchase individual policies, but the condo association might require both owners and tenants to be insured. Condominium insurance is known as H06, and the policies cover such items as:

  • personal belongings
  • appliances
  • wall coverings
  • loss of use if the unit becomes uninhabitable
  • liability if someone is injured inside your unit

If you're purchasing a new unit, the application form should request proof of insurance if it's required. Ask your insurance for a binder letter that states the policy will go into effect on the specified closing date. When in doubt, call the association or property management company for clarification.