Where the association's coverage ends and yours begins

Condo owners in Florida sit in an unusual position. Part of what you live in is insured by the association, part is insured by you, and the line between them is not where most people assume it is.

The association covers less than you think

The association's master policy generally covers the building structure and common areas. What it covers inside your unit depends on how the association's documents are written, and those documents vary considerably.

Some master policies stop at the bare walls. Others include original fixtures as they were when the building was completed. Almost none cover what you have installed since.

This is why two owners in the same building can have genuinely different exposure. It depends on what is in their units and how the association's coverage is written.

What falls to you

Your unit owner policy generally handles interior finishes and improvements, personal property, personal liability, and loss of use if the unit becomes uninhabitable.

Interior improvements are where the gap usually shows up. Upgraded flooring, a renovated kitchen, custom built-ins, and updated bathrooms are frequently the owner's responsibility to insure, and they are frequently the most expensive things in the unit.

The association deductible

One item worth understanding specifically: when the master policy pays a claim, the association's deductible can be substantial, and depending on the governing documents, unit owners may be assessed for a share of it.

This is a real exposure that catches owners off guard after a building-wide loss. It is worth knowing whether your policy can respond to that kind of assessment.

Where to start

Get a current copy of the association's master policy declarations and the section of the governing documents describing insurance responsibility. Those two documents determine what you actually need to carry, and reviewing coverage without them is guesswork.

Related: Florida condo insurance, wind and flood after a storm, and what changes between renewals.