Espirecreati…, Home Buyer in Surfside, FL

Does a condo's HOA typically include insurance (hurricane etc) or does that have to be purchased separately?

Asked by Espirecreations, Surfside, FL Sun Jun 10, 2012

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Yes, it is normally covered in your HOA fees but I recommend more than content insurance. The HOA Insurance normally covers rebuilding the condo up to the studs so your policy should include coverage from the dry wall in. Double check what the HOA covers. Your personal coverage should run between $400 & $600 a year.
0 votes Thank Flag Link Sun Jun 10, 2012
you have to purchase content insurance. The insurance by the HOA is usually only exterior structure insurance. If anything gets damaged inside you are responsible for that.

If you have any question please feel free to call me at 850-258-2470 or email or you can visit my website at
0 votes Thank Flag Link Mon Jun 11, 2012
Do as I suggested below as you will be spinning your wheels and wasting a lot of time if you need a loan with a low rate if that condo is in a mess with the HOA, ect.

Why all listing agents don't have a Condo Cert done very first thing and ready to give to any buyer after these past 6 yrs of them needing one baffles us in the mortgage industry!
0 votes Thank Flag Link Mon Jun 11, 2012
In most cases it is covered in the hoa dues.
Best place to find PCB foreclosures is updayed daily
Butch Metcalf Broker / Owner CitiStar Realty
0 votes Thank Flag Link Mon Jun 11, 2012
The HOA typically covers the insurance on the building, but not interior, nor contents of the condo.
Web Reference:
0 votes Thank Flag Link Sun Jun 10, 2012
STEP ONE : get a Condo/HOA Cert. form completed if there is a purchase loan involved

This is the Xray lenders use to determine if they will loan in that condo project.

Email me for a copy of this form:
0 votes Thank Flag Link Sun Jun 10, 2012
Typically in our area the Condo Association Fee includes the insurance coverage on the building including hurricane coverage on the building or complex. The coverage is in the Master Association Policy. You can inquire with the association w/ regard to the specifics of the coverage.

We recommend our customers also get Contents Insurance. This would cover their personal belongings and the interior items of the condo unit. In most cases you own 'paint to paint'. So everything else you would want to cover in your contents insurance policy.

Hope that helps you.

Please let us know if you have any other questions or concerns.

Kind regards, Mike and Vivian Foate
Mike's Cell: 850-596-4236
Vivian's Cell: 850-814-2372
Mike and Vivian Foate-REALTORS®
Prudential Shimmering Sands Realty, Inc.
7923 Panama City Beach Parkway
Panama City Beach, FL 32407 - Loans That Change Lives! Make a loan and change a life!
See who we have loaned to:
0 votes Thank Flag Link Sun Jun 10, 2012
Just a quick note for qualified borrowers:

$100.00 mo. in HOA dues = Approx. $21,000 in Loan Amount with tax destructible payment

So, for a $250 mo. HOA payment, in effect, factoring in interests write off, a buyer could afford about $55,000 more of a home

Steve McRory
Pro Option Mortgage
Ph: 888 662 4404
0 votes Thank Flag Link Sun Jun 10, 2012
All condo documents are not created equally, up here on the coast, you find some that have wind/hail coverage (what you are calling hurricane insurance) and some do not. Some cover flood insurance and some do not. Some pay taxes while some do not.
0 votes Thank Flag Link Sun Jun 10, 2012
A condo would include building insurance for the exterior of the buildings, but not the interior or contents insurance. HOA's which normally govern townhomes may be different. You have to read the condo docs carefully.
0 votes Thank Flag Link Sun Jun 10, 2012
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