The new forida law requiring condo owners to purchase homwowners ins.

What is the penalty for avoiding compliance with fl statute 718.111 this statute requires condo owners to purchase homwowners insurance for their own apt contents. Would a bond or letter of intention to pay justified claims to an adjacent condo owner suffice????

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insurance, condo insurance, homeowners ins for condos

Posted 2008-12-17T14:06:40Z
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Posted Answers

smartbob

87 answers

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If you outright own the property, then you are not required to have insurance on the property. However, since your property directly interacts with the property of others (if you poke a hole in your floor it goes through someone's ceiling) you are required to have insurance that will cover damages to the overall structure. I believe that renters insurance may cover this. Talk with an insurance agent before making any decisions.

Posted 2009-01-08T20:58:04Z

In reply to jupicon's question