Condo Insurance Law In Florida

I have had several clients in the last three months asked me about the law for condominium insurance. It seems there is a lot confusion and lack of correct information.  The big questions is: Is it still mandatory for each unit owner to carry personal HO-6 insurance policies?

The answer is Yes!

This is a small review of what is the actual law and the modification:

A Florida law, often referred to as "Homeowners 6" took effect on January 1, 2009, affecting all owners of condominiums in Florida. Under the new law, Florida condominium owners are required to take out a new type of insurance policy that provides coverage to all contents within the condominium unit. The insurance policy closes a gap in coverage by providing coverage to all items in the unit that are otherwise included in general condominium association insurance policies.

General condominium association insurance policies, which are taken out by the condo association to cover the structure and communal areas of the condominium building, only cover the reconstruction of structural materials, such as bare walls, in the event a condominium unit was damaged or destroyed. The general condominium association insurance policies do not cover the replacement of interior fixtures such as carpet, cabinets, hardwood floors or tile. Instead, insurance policies taken out by the owner of the unit, such as homeowner insurance policies, are left to cover those replacements.

The newly required insurance policy covers the replacement of all the interior fixtures not covered by general condominium insurance policies. Previously, condo associations could elect whether or not to require this additional insurance but as of January 1, 2009, this additional insurance is required. All condominium owners in Florida are required to take out additional coverage under Florida law and provide proof of their all-inclusive homeowner insurance.

However, the condo associations are tasked with policing compliance under the law. It is up to condo associations to ensure all condo owners are in compliance and have sufficient homeowner insurance to cover the cost of interior fixture replacement in the event of a catastrophe.

To tell you the true for my experience I don't see many HOA enforcing the law,  I think this is simply because they don't have the system to follow up with the proof of insurance. However, if you chose not to have condo Insurance it is always good to know that you are not in compliance with the law.

The Florida legislature passed a bill that would have eliminated the Unit Owner coverage mandate,  but that bill was vetoed by the Governor. I will explain this in my next blog.

If you have further questions please contact me.

visit my web http://www.es-insurance.com/

Happy Thanksgiving

I want to take a moment to thank all my blog followers, clients and associates for making my job so pleasant.  Please have a safe travel and do not forget that E&S Insurance thanks to technology never closes.  So if you need anything feel free to contact me.

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I am going to let you go with this nice quote I found on the web

“Gratitude unlocks the fullness of life. It turns what we have into enough, and more. It turns denial into acceptance, chaos to order, confusion to clarity. It can turn a meal into a feast, a house into a home, a stranger into a friend. Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow”.

Melody Beattie

Auto Insurance with Progressive

Do you like Progressive, but do not like your current agent?

Not problem! Transfer you policy to our agency, and I will make sure you are happy!!

Contact me for more information

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Wind Mitigation Report

Florida is just one of the several US states that often gets hit by windstorms and violent hurricanes. Having windstorm insurance is crucial in order for residents to become fully prepared and equipped in safeguarding their homes

An insurance Wind Mitigation Report is an important inspection that may reduce one's windstorm insurance. Discounts are available for constructing house structures that withstand or are more resistant to high winds. These discounts are justified because the stronger the building structures are, the lower the damage and losses, which ultimately means reduced costs for the insurance companies.

One huge misconception from a lot of people is that the discount is base on having or not hurricane shuttles. However there are 9 different discounts we as insurance agent can provide you base on the Wind Mitigation Report.

Feel free to contact me for further information

Visit my web www.es-insurance.com

Homeowner Insurance

Owning property represents a significant investment in terms of financial commitment and emotional attachment. It seems inconceivable to rebuild a home from ruin. But should that moment ever come having solid protection, sufficient protection, and the right protection will make all the difference.

Most of the people out there have Homeowner insurance, but don't even know what it covers so here it is what a standard homeowners policy provides:

• Dwelling

This includes structures such as attached garage or screened porch.

• Other Structures

Detached structures on the property such as fence, tools shed or gazebo.

• Medical payments

Medical expenses for anyone outside the household who is injured while visiting.

• Personal Property

Replacement value for personal belongings such as clothing, furniture, appliances, jewelry and furs.

• Loss of Use

Any cost above normal living expenses if damage prohibits from living in their home.

For any question, feel free to contact me
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My business is to keep your business on the road

Whether you are a landscaper, cabinetmaker or florist, the focus of you business is your customers. Your customers depend on you to provide a service, whether it's a unique landscape design, a hand-carved kitchen cabinet or an exotic bouquet of flowers. Everyday, you strive to provided the best products and services so that your customers are satisfied.

As an independent agent, I also want to provide you with the best product and services, from assisting you with selecting the appropriate insurance coverage to providing quick and efficient claim service when you need it.

Feel free too contact me at any time
visit my web http://www.es-insurance.com/

The advantage of an independet isurance agent

There are many advantages of working with an independent insurance agency: Advice and personal service, a choice of products and rates from competing carriers, and custom policies that meet your needs.

Feel free to contact me any time
visit my web http://www.es-insurance.com/