How to Prepare Your Condo for Hurricane Season
Hurricane season is approaching, bringing increased risk of severe damage to coastal properties, especially condos. Why does this matter?
In this article, we reveal what many property owners discover too late and how to avoid being exposed to this risk:
The Master Policy: Your First Line of Defense... or a False Sense of Security?
• Are you certain your building’s Master Policy covers hydrometeorological phenomena? A significant percentage of buildings lack this crucial protection, primarily due to budget decisions made by the board.
Many owners discover this too late, when filing hurricane damage claims, only to find their master policy provides no coverage.
• Even if the master policy includes hurricane coverage, remember it only protects the building’s structure, not your personal belongings inside your unit.
Your Individual Condo Policy: Protection You Control
• Is it worth it? Master policies typically have high deductibles and limited coverage. With an individual policy, YOU choose what coverages and benefits give you peace of mind.
• Can you get content-only coverage without structure protection? Yes, but this decision requires careful analysis of the pros and cons of full (structure + contents) vs. contents-only coverage.
• Deadline to add this coverage: The best time to get coverage is BEFORE hurricane season begins, as most insurers stop writing new policies during this period. If you wait until a hurricane appears on radar, it will be too late.
What Does an Individual Condo Policy Cost?
Surprisingly, an individual condo policy costs just 0.3% to 0.9% of your property’s value. For example:
• For a $300,000 USD property with coverage including contents, glass breakage, third-party liability, electronics, and home assistance – including hurricane coverage – the policy would cost about $1,100 USD annually.
This makes coverage extremely affordable, especially compared to the potential damage a hurricane could inflict on your property.
In Conclusion:
Don’t leave your property to chance. A hurricane won’t negotiate with you, but your insurance can. The team at Guardian Insurance MX can help you:
✅ Design a customized individual policy tailored to your needs
✅ Act quickly before insurers stop accepting new clients or adding hurricane coverage
Explore our Home Insurance plans and get your personalized quote today.
