Lakeland Condo Insurance

Condominium living is popular in Lakeland for its convenience and community amenities, from downtown condo lofts to quiet units overlooking golf courses. If you own a condo in Lakeland, it’s important to have a proper condo insurance policy (HO-6) to cover what your condo association’s master policy does not. Advantage Insurance provides comprehensive Lakeland condo insurance for unit owners, ensuring your personal property and interior unit are protected, especially in light of Florida’s updated condo laws and severe weather risks.

Master Policy vs. Condo Unit Policy

First, let’s clarify the split between what your condominium association covers and what you as a unit owner cover:

• Condo Association Master Policy: This is held by the association (your HOA or condo board). It typically insures the building’s structure and common areas – think exterior walls, roof, elevators, lobbies, etc. In Florida, condo associations are required to carry adequate property insurance covering the full insurable value of the property. Recent legislation (SB 4-D in 2022, refined by HB 913 in 2025) reinforced these requirements, so associations must insure the building and have sufficient reserves for structural repairs. However, the master policy usually does not cover the interiors of individual units or your personal contents.
• Your Condo (HO-6) Policy: This is what we help you obtain. It covers your personal property (furniture, electronics, clothing, etc.), the interior elements of your unit (like flooring, cabinetry, appliances – depending on how your condo docs define unit boundaries), and provides liability coverage and loss of use. Essentially, from the “walls in,” your condo policy is key. For example, if a kitchen fire damages your cabinets and drywall, your policy would pay for those interior repairs (the association’s policy would handle damage to common elements or possibly the drywall depending on bylaws). We tailor coverage to match your condo association’s bylaws on insurance responsibility, which can vary.

Additionally, condo insurance includes loss assessment coverage – which is very important. If the association’s master policy deductible or loss exceeds its coverage and they levy a special assessment on all owners, your condo policy’s loss assessment coverage can help pay your share. Given that Florida condos now must carry high structural reserves and insurance, special assessments for big repairs or storm losses, while hopefully less frequent, can still occur. We usually recommend at least $50,000 in loss assessment coverage in Florida.

Risks for Condo Owners in Lakeland

Wind and Water: Lakeland condos are not immune to windstorms. A hurricane or tornado could damage roofs or exteriors – if your unit’s interior is damaged by rain through a storm-damaged roof, you might be filing a claim on both the master policy and your own policy. Your HO-6 policy can cover interior damage and your personal items. Also, if you’re in a multi-story building, water leaks are a top culprit for condo claims – e.g., an upstairs neighbor’s pipe bursts and water pours into your unit. Your policy covers your damage and can step in if you’re liable for water damage to a neighbor’s unit (via personal liability coverage).

Flooding: Condo owners near Lakeside Village or Lake Morton – remember, flood is not covered by either your condo or master policy. If you’re on a ground floor or your building is in a flood zone, consider an individual flood insurance policy. Condominium associations in high-risk zones might have a master flood policy for the building, but that still won’t cover your personal property. We can help assess this and add a condo flood endorsement or separate flood policy for your unit if needed.

Florida Condo Law Changes: In response to the Surfside tragedy, Florida enacted strict condo safety laws. By the end of 2025, associations must complete milestone structural inspections and fully fund structural reserves for items like roofs and load-bearing structures. They also cannot waive those reserves. This is good for safety, but some associations have faced high costs to comply. See FL Governor Press Release for details. We advise condo owners to ensure their loss assessment coverage is up to date – if your HOA hits owners with an assessment to bolster reserve funds or insurance premiums, your policy might cover some of that. Also, as of 2023, condo boards are explicitly required to maintain “adequate” property insurance. So, ideally the building is well-insured, but if it ever weren’t and a big loss happened, that’s another scenario for a possible assessment on unit owners.

Lakeland Condo Insurance Coverages Explained

• Dwelling (Building) Coverage: Covers the interior structure of your unit. This includes walls, flooring, built-ins, and cabinetry.
• Personal Property Coverage: Insures your furniture, clothing, electronics, and personal effects.
• Loss of Use: Helps cover your expenses if your condo is uninhabitable due to a covered claim.
• Liability Coverage: Protects you in the event you’re legally responsible for bodily injury or property damage to others.
• Loss Assessment Coverage: Helps pay your share of an HOA special assessment due to a covered event.

Lakeland Condo Insurance FAQs