Fort Lauderdale Condo Insurance

Learn how to find affordable condo insurance in Fort Lauderdale.

fort lauderdale condo insurance

How to Find Affordable Condo Insurance in Fort Lauderdale

Fort Lauderdale’s claim to fame is its 23 miles of sandy beaches and its diversity. In fact, more than 100 languages are spoken throughout Fort Lauderdale. Locals know this city is a hidden gem for food aficionados, too – it has more than 4,000 restaurants and an array of Cuban and Filipino cuisine.

It’s little wonder so many folks buy property here. If you’re a condo owner in Fort Lauderdale, though, you’ve probably noticed finding affordable Florida condo insurance can be a challenge. We’re happy to offer condo insurance that fits the budget without compromising protection.

Fort Lauderdale Condo Insurance Costs

Florida already has higher-than-average insurance costs, according to the National Association of Insurance Commissioners (NAIC). State policies average $942 each year where the national average is only $488 for condos. Because of where Fort Lauderdale is located, it’s a prime target for Atlantic hurricanes. This drives up the cost of insurance for the city.

Our average condo insurance premium for high-rise condos in Fort Lauderdale for low-rise condos is $1,806 a year.

Average Fort Lauderdale Condo Insurance Premiums
Structure
Low Rise Average Premium
High Rise Average Premium

Keep in mind that your policy is customized to fit you. It reflects your condo’s age, remodels, and risks. In other words, your price will vary depending on your condo’s characteristics, exact location, safety features, and the coverages you choose.

For example, a high-rise condo is often less expensive than a low-rise condo because high rises are built to better withstand destructive hurricane winds. That means fewer losses and less risk.

The best way to know exactly how much your condo insurance policy will cost is to get a quote. It’s fast, free, and easy!

What Fort Lauderdale Condo Insurance Covers

You may hear your condo insurance policy referred to as an HO6 policy. It’s a policy designed just for condo units and complements your homeowners association’s master policy. A master policy usually covers the common areas of the condo, like pools, gyms, walkways, and the building’s exterior.

Without condo insurance, you’ll have some serious gaps in your protection because the master policy doesn’t cover items in your home. Depending on the type of master policy, your internal walls, ceilings, floors, and fixtures might be excluded as well. Learn more about the various types of master policies here.

It’s also important to note that a condo policy can help cover your portion of the master policy’s deductible if there’s a claim. Without the condo insurance, you’d pay that on your own.

Our condo insurance includes:

  • Dwelling interior coverage: This covers the interior structure of your condo that the master policy excludes. It can pay for damage to floors, ceilings, interior walls, and more.
  • Personal property coverage: This can help repair or replace your personal belongings in the condo, like clothing, furniture, and electronics.
  • Loss of use coverage: This pays for extra living expenses when a covered claim keeps you from living at home while repairs are underway.
  • Loss assessment coverage: This can help cover your portion of a master policy deductible or your portion of a shared loss as determined by your HOA.
  • Personal liability coverage: This can help pay for legal expenses when you’re sued over bodily injuries on your property or property damage you may have caused.
  • Medical payments coverage: This can help cover small medical bills if a guest is injured on your property.

Condo Coverage for Fort Lauderdale’s Natural Disasters

In Fort Lauderdale, 50 out of every 1,000 residents face property crimes. Good thing condo insurance protects you and your home against theft, fire, windstorms, internal water damage, vandalism, and more.

But how does it respond to natural disasters like hurricanes, floods, and sinkholes? Let’s find out.

Fort Lauderdale Hurricane Coverage

Most folks in Fort Lauderdale and Broward County remember Hurricane Irma whose unforgiving winds reached 115 miles per hour. From downed trees to torn roofs, residents looked to the insurance to help cover the cost of repairs. Hurricane insurance is included in every condo policy. When a named storm damages your home, your hurricane deductible will apply.

Fort Lauderdale Flood Insurance

Heavy rains are all it takes to cause flooding throughout Fort Lauderdale. Because the city is at sea level and has poor drainage, floods are common. Unfortunately, many condo owners may not realize their condo coverage doesn’t cover water damage from rising waters, storm surges, or broken water mains. The good news is that you can add on flood insurance for as little as $175 a year in many parts of Florida.

Fort Lauderdale Sinkhole Coverage

Under beautiful city streets and homes, there are massive limestone deposits throughout Florida. Fort Lauderdale is no exception. Saturated limestone erodes and causes the top soil to collapse. If your condo is above the erosion, you might see caving floors, buckling walls, and cracked ceilings. Our policies include catastrophic ground cover collapse coverage at no additional cost to protect you in worst-case sinkhole scenarios.

How to Keep Fort Lauderdale Condo Insurance Affordable

To lower your insurance premium, try out different deductibles. The higher the deductible, the lower your premium will be. But make sure you are comfortable covering that cost out-of-pocket – claims can happen at a moment’s notice, and you don’t want to be unprepared.

We also offer condo insurance discounts for:

Get the right condo insurance policy for the best price. Get a quote today.

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