Unit Insurance at the Summit (last updated April 1, 2013)
This article was put together by volunteers and may be incomplete, contain errors or become out-of-date. We depend on our community to help us keep these articles accurate by sending notes to Summit.Observer@gmail.com. Please refer questions to our business office

This is a simplified summary of some of the key issues. Please talk to your insurance agent to get a fuller understanding of the issues. Refer to any policy's small print to see what is covered. To see the breakdown between what an association's insurance policy and what your unit's insurance policy needs to covers see the
handout provided by a local insurance agent. You will want a different policy if you live in the unit you own, if you rent out the unit you own, or if you are a renter.

Owners need insurance on your apartment at the Summit to help protect against loss:

1. Loss of content
2. Cost of restoration -- any third party services to dry or clean up unit. If necessary, condo associations do order such services and bill them back to owners.
3. Fixing unit -- Owners are usually responsible for everything to the wall board and cement floor, including: paint, flooring, built-ins, etc. Owners can also responsible for any changes they have made inside walls such as plumbing. Owners also may have to deal with expensive mold problems.
4. Any liability for damage caused to surrounding units and to the common area and facilities. For example, a leak in your plumbing can cause expensive problems for all the units below you.

Normally, owners use their own insurance policy to fix any damage, even if there might be potential liability from another unit. It is usually their insurance company's option to then go against the other unit owner (and/or their insurance company.) If you wait on the other unit's insurance company you might find your unit unfixed (and perhaps uninhabitable) for a long time (maybe forever.)

Looking for coverage? The office has the name of insurance agents that have been willing to write insurance policies for our units. Also try the free property insurance referral service FMAP (Florida Market Assistance Plan) at 800.524.9023 or fmap.citizensfla.com.

To reduce the cost of your policy:
1. Give a copy of the Summit's packet of certificates to your insurance agent. This proves the safety features of our building.
2. Let the agent know if you have hurricane windows or shutters. (Or get them.)
For example, a recent policy was reduced from $1201 to $573!
3. Choose as high a deductable as you are comfortable with.

Another critical idea for protecting your unit is to have a maintenance contract with a reputable firm. See Maintenance Contracts.