Condo life… It’s quite common here in the Panhandle of Florida. Whether it is in Niceville with a view of the bay, in Fort Walton Beach looking out at the “sound” or in Destin watching the waves in the Gulf of Mexico, it is one of the best ways to enjoy the Florida life.florida condos

In my several years of writing condo insurance, whether as a primary home or rented out to others, I am questioned quite often on what exactly “Unit Owners Special Coverage A” is. While all insurance agencies should add this coverage to a policy, some do not to keep your premium down.

So, what exactly is this coverage? Let me give you a few examples –

  • Rain that enters an open window that causes damage to carpet or furniture
  • Water seepage around window that causes damage to furniture or carpet
  • Sprinkler damages unit through open window
  • Damage due to weight of objects, people, or animals
  • Damage to the interior by a falling object with no exterior damage
  • Damage to a falling object itself, such as a light fixture or chandelier
  • Aquarium breaks and floods unit
  • Power surge that causes damage to electronics
  • Foreign objects dropped into and damaging plumbing systems
  • Spillage – wine on white carpet, nail polish on couch

Many claims are denied every year because this inexpensive endorsement was not added to the “named peril” policy to change it to “open peril”. Yes, that is typical insurance lingo but it basically means that it covers damage from every peril unless specifically excluded. Although the premium looked good at the time and was $50 less than the competitor, can you imagine being told that your claim is not covered and now you are responsible for the thousands of dollars worth of damage?

If you have a condo, take a look at your policy and make sure you have this coverage. If not, ask yourself, “Is it worth it?”

Only a licensed adjuster can determine what is covered and what is not. The above examples are only meant to be a guide and you should discuss this coverage with your agent to make sure you understand.

About Niceville Insurance

Niceville Insurance Agency has been proudly serving our local communities since 1995. Our specialty has been delivering insurance solutions for individuals, families and businesses throughout Northwest Florida. Contact us for a no hassle insurance quote today!

Posted 3:08 PM

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