Building Insurance Coverage for Manufactured Home Community Associations

Whether the issue is big or small, having building coverage for your Community Association is an integral part to keeping your community protected.

What Situations Call for Building Coverage?

Here are a few examples of instances where having property insurance for your community association would come in handy:

  • Your building catches on fire, and the structure is destroyed.
  • Water from a burst pipe damages association property.
  • Your neighborhood gate is damaged by a vehicle running into it.

Manufactured Homes Community Associations require coverage that is unique to Florida. Due to the intimate relationship between the association and its Unit Owners, knowing where the association coverage begins and ends is important.

What’s Covered?

Florida State Statutes define what is required to be covered by manufactured home community associations. Here is a short list of items associations are required to have insurance on:

  • Electrical lines behind the drywall
  • Any Common property (Clubhouse, Hallways, Pools, etc.)
  • Fencing, Carports, Mail Kiosk
  • Association Personal Property

What You Need to Know

Working with an Independent Agent that focuses exclusively on Florida Community Association Insurance is very important. Florida is unique to other states with regards to coverage requirements.

The Basics

Community Association property insurance varies from policy to policy. Basic coverage typically includes damage caused by fire, lightning, wind, hail, and vandalism. You can also add further coverage to protect against water damage and broken glass.

Determining The Value

Florida Statutes 720 requires cooperative community associations to have “adequate” hazard insurance. To comply with the statute, a Condominium Association is required to have an insurance appraisal of the property at least once every 36 months (3 years). Although this same timeframe is not required for all community associations, we do recommend following the same appraisal schedule.

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Community association insurance policies for your community in Cape Coral, Fort Myers, Naples, Port Charlotte, Punta Gorda, and Bonita Springs, Florida.

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