V.B. from Florida writes:
Dear Mister Condo,
I’ve lived at my condo in Orlando since 2009, when it was vetoed that unit owners are required to have insurance for condo. Are unit owners required to have condo insurance?
Mister Condo replies:
V.B., I am not an expert in Florida community association law so please consider this a friendly answer and not a legal one. You may wish to check with a local attorney for a legal opinion. Generally speaking, unit owners should have a homeowner’s insurance policy at the very minimum, regardless of requirement, to protect themselves from potential losses. Many association governance documents require unit owners to hold such policies but I am not aware of any legislation that requires unit owners to hold policies. In fact, my understanding of the Florida Condominium Act is that it does not require the insurance but it does state that the interior damage is the unit owner’s responsibility. As long as it is unit owner responsibility, the unit owner should want to have that risk insured, regardless of the law. That being said, if your original documents did call for a requirement to carry the insurance and the association voted to discontinue that requirement, there may, in fact, be no requirement for unit owners to do so. However, most mortgage companies would have a requirement for the unit owner to carry homeowner’s insurance and it is certainly a best practice to do so. All the best!