Affordable Condo Insurance in Bradenton
Along the Manatee River, residents in Bradenton, Florida, are used to a vibrant way of life. Locals enjoy the Riverwalk Park that winds along the water’s edge. The Village of the Arts is lined with restored cottages from the 1920s and 1930s that now house galleries, studios, and shops. It’s a reminder that the spirit of Old Florida is alive and well today.
It’s no wonder so many folks buy condos here – it’s a perfect place to retire or to escape the winter months up north. But insuring condos here can be tricky. Not all insurance companies offer condo insurance, and in Florida, you need coverage for hurricanes.
Bradenton Condo Insurance Costs
Florida condo owners know that affordable condo insurance is hard to come by, especially when it comes to finding reliable coverage. Florida condo insurance policies average $942 per year, nearly double the national average condo premium of $488, according to data from the National Association of Insurance Commissioners (NAIC).
We use our data to help keep our prices low. The average Bradenton condo insurance premium is a little higher than the state average because of its hurricane exposure. The average cost from Kin for a high rise is $1,071 a year, about 5 percent cheaper than Safe Harbor’s $1,131 per year.
|Average Bradenton Condo Insurance Premiums|
|Structure & Company||Kin|
|Low Rise Average Premium||$1,515|
|High Rise Average Premium||$1,071|
As you can see, your condo’s construction has a big impact on your premium. High-rise condos tend to be constructed to withstand extreme wind, so these condos cost much less to insure. Other facts, like your condo’s location, age, and the coverages you choose, can also affect your rates.
The best way to know what you’ll pay for coverage is to get a quote. It’s fast, easy, and free!
What Does Bradenton Condo Insurance Cover?
Condo insurance (also called an HO6 policy) covers the parts of your home that your HOA’s master policy doesn’t. The master policy typically covers a unit’s exterior and common structures and areas, but that’s not always the case. It’s important to understand what your HOA’s policy covers so your condo policy can fill the gaps. There are three main types of master insurance – learn about them here.
So why do you need your own insurance if your condo association might offer some coverage? For starters, it won’t cover the inside of your home, no matter how comprehensive their policy is. It also won’t cover your belongings or personal liability.
Plus, if there’s a claim on the master policy, you and your fellow unit owners will be charged to help cover the (usually high) deductible. That’s why your HO6 policy offers loss assessment coverage to help pay for those surprise expenses.
Our condo insurance includes:
- Dwelling interior coverage: This covers the unit’s interior, like damage to the ceiling, floor, and walls.
- Personal property coverage: This helps pay to repair or replace your belongings, like your furniture, appliances, electronics, and clothing.
- Loss of use coverage: This helps cover extra living expenses if a covered claim keeps you from living at home while repairs are underway.
- Loss assessment coverage: This helps cover your portion of repair fees for shared property or the master policy’s deductible.
- Personal liability coverage: This can help cover your legal expenses if you’re responsible for someone’s bodily injuries or property damage.
- Medical payments coverage: If a visitor is injured at your home, this can help cover their immediate medical expenses.
Condo Coverage for Bradenton Natural Disasters
Condo insurance can cover damage to your home and belongings from events like windstorms, fires, vandalism, theft, and more. But Bradenton isn’t a stranger to natural disasters, so it’s important to know how your coverage responds to widespread incidents, too.
Bradenton Hurricane Coverage
Bradenton sits along the Gulf of Mexico and is a target for hurricanes from the west, south, and even the east. The city has been spared in recent years from a direct hit but has still had to deal with high winds and storm surge that accompany near misses. Without hurricane insurance, wind damage that happens during a named storm wouldn’t be covered.
Good thing all our condo policies include hurricane coverage!
Bradenton Flood Insurance
In September 2020, heavy rains in Bradenton caused flooding that damaged a bridge on a major Manatee County street. The area is known for poor drainage and lots of water hazards that can lead to flooding. Only flood insurance can cover the damage caused by rising waters and storm surges.
Instead of getting this essential coverage from the National Flood Insurance Program (NFIP), which is expensive and offers limited protection, you can add on our flood insurance to your condo policy. It costs as little as $175 a year.
Bradenton Sinkhole Coverage
Bradenton and its surrounding areas are prone to sinkholes thanks to miles of underground limestone deposits. When rain or tides saturate the ground, limestone can erode and cause the ground to collapse. Sinkholes can cause buckling walls buckle, cracked foundation, and collapsed ceilings.
Catastrophic ground cover collapse coverage is included in all Kin policies. It covers the worst-case scenarios caused by sinkholes.
Tips for Keeping Bradenton Condo Insurance Affordable
An easy way to lower your condo insurance rates? You can choose a higher deductible. Just remember that the higher your deductible, the more you’ll be responsible for covering out of pocket when it’s time to file a claim.
You can also get insurance discounts for:
- Wind mitigation features
- Smart home security systems
- Being 55 years or older
- Signing up for our Responsible Repair discount
- Opting for an electronic policy
Get the right condo insurance policy for the best price. Get a quote today.
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