Will Flood Insurance Cover My Condo?

Condo insurance benefits businesses and homeowners, this includes condo owners. Breathe Insurance wants Aliso Viejo, CA condo owners to understand what they can expect from condo insurance as well as what is covered and what isn’t. 

Flood Insurance for Condos

Condo properties invest in flood insurance which means that individual unit owners pay part of the premium for flood insurance as part of their condo fees. Condo unit owners own the common areas of a condo building too. This is why HOA members pay part of the flood insurance premium.

What Does Flood Insurance Cover for Condo Members?

Condo insurance covers each unit. Each unit has flood insurance coverage for the floor and floor coverings, and the walls and ceilings. Electrical fixtures, water heaters, appliances, water heaters, filters, countertops, and cabinets. All of these parts of a condo unit are covered under the standard flood dwelling policy. Flood insurance coverage for condo unit owners applies to improving and restoring individual condo units first and then the common areas of a condo. Flood insurance will restore the floors, ceilings, and walls, as well as the appliances and other interior countertops and cabinets. 

Things You Should Also Know…

There are times when HOA flood insurance coverage may be inadequate for condo unit owners. This means that you may need to purchase additional insurance. Condos are single-family homes. This gives unit owners the ability to choose their own coverage. You may want to include possessions coverage to cover personal possessions inside your condo that may have been damaged from the flood. We know that flood insurance may be a little difficult to understand as a condo owner. However, we’re committed to helping you understand the benefits of this insurance as a condo owner. Give us a call. We’re here to help.