Smart Insurance Starts With the Right Information
Most condo association boards are made up of volunteer unit owners doing their best to protect their community. Insurance is complex — and it’s easy to make decisions based on incomplete information or outdated assumptions.
This page brings together the most useful tips, tools, and resources we share with associations every day. Bookmark it, share it with your board, and come back before every renewal.
Review your policy every year
Don’t let your policy auto-renew without a thorough review. Limits, exclusions, and carrier appetite change annually.
Don’t cut coverage to cut costs
Reducing limits to lower premiums is a false economy. The savings rarely offset the exposure created.
Update your replacement cost value
Construction costs in South Florida have risen 30%+ since 2020. Your insured value may be dangerously outdated.
Work with a specialist, not a generalist
Condo association insurance has unique complexities. A specialist agent catches gaps a generalist won’t.
Trusted Government & Industry Sources
These are the agencies and organizations we point boards to when they need authoritative information on insurance, regulation, and consumer rights in Florida.
Florida Department of Financial Services
State AgencyFlorida’s chief financial regulator oversees insurance consumer protection, agent licensing, and claim dispute resolution. File a complaint, verify an agent’s license, or find consumer guides on condo insurance.
Florida Office of Insurance Regulation
State AgencyFLOIR regulates insurance companies operating in Florida. Use their tools to check a carrier’s financial stability, complaint history, and licensure status before binding coverage.
Citizens Property Insurance
State InsurerFlorida’s insurer of last resort provides coverage when private market options aren’t available. Understand eligibility, coverage options, and the depopulation process for condo associations.
FEMA National Flood Insurance Program
Federal AgencyLook up your building’s flood zone designation, understand NFIP coverage for condo associations, and explore private flood insurance alternatives available in South Florida.
Florida Community Association Journal
Industry ResourceFlorida’s leading publication for condo and HOA boards. Features articles on insurance, legislation, management, and legal updates specifically relevant to South Florida associations.
Florida DBPR — Condo Division
State AgencyThe Department of Business & Professional Regulation oversees condominium regulation in Florida. Access Florida Statute 718, file complaints, and find official guidance on association obligations.
Peter’s Top Insurance Tips for Condo Boards
These are the recommendations Peter shares with every association he works with — the things that make the biggest difference before and after a loss.
Get a Replacement Cost Appraisal Every 3–5 Years
A professional appraisal by a certified valuation specialist is the only reliable way to know what it would actually cost to rebuild your building today. Market value and assessed value are not the same as replacement cost.
Know Your Windstorm Deductible — and Communicate It to Owners
In South Florida, windstorm deductibles are typically 2–5% of insured value — which can mean hundreds of thousands of dollars. Unit owners need to know this so they can size their HO-6 loss assessment coverage appropriately.
Never Waive the Annual Policy Review
A lot changes in a year — construction costs, carrier appetites, Florida law, and your building’s condition. A thorough annual review with a specialist catches gaps before they become claims problems.
Don’t Let Premium Pressure Drive Coverage Decisions
In a hard market, the temptation to reduce limits or drop coverages to control premium is real. But the savings are rarely worth the exposure created. Work with your agent to find savings in the right places.
Document Everything Before Hurricane Season
A thorough photo and video walkthrough of your property before every hurricane season creates the baseline documentation you’ll need to support a strong claim if damage occurs.
Understand What Your Master Policy Does — and Doesn’t — Cover
Whether your policy is bare walls, single entity, or all-in matters enormously to unit owners. Make sure the coverage type is clearly communicated so owners can structure their HO-6 policies accordingly.
Verify Contractor Licenses Before Signing Anything After a Storm
After a hurricane, unlicensed contractors flood South Florida. Always verify a Florida contractor license at myfloridalicense.com before signing any repair agreement — and never sign an Assignment of Benefits.
Check Your Carrier’s Financial Strength Rating
A policy is only as good as the company behind it. Verify your carrier’s AM Best or Demotech rating annually. In Florida’s volatile market, carrier stability matters more than ever.
Insurance Terms Every Board Should Know
A quick reference glossary of the most important insurance terms for condo association boards.
Have a Question About Your Coverage?
Peter offers free, no-obligation policy reviews for South Florida condo associations. Get expert answers without the sales pressure.
Talk to Peter