Condo Insurance 101 for Boca Raton Club Condos

Thinking about a club condo in Boca Raton and wondering how condo insurance really works? You are not alone. Between HO-6 policies, the association’s master policy, and Florida’s hurricane and flood risks, it can feel complicated fast. This guide breaks it down so you can protect your purchase, satisfy your lender, and avoid costly surprises in 33496.

Let’s dive in.

HO-6 basics for club condos

Your HO-6 policy is the unit owner policy. It protects what is inside your four walls and your personal liability. The exact items vary by association, so you will match your policy to the documents. For a clear overview, review the condo unit owner insurance (HO-6) basics from the Insurance Information Institute.

Typical HO-6 protections to verify:

• Personal property, with an option for replacement cost.
• Interior improvements and alterations if the master policy does not cover them.
• Personal liability and medical payments.
• Loss of use or Additional Living Expense if your unit is uninhabitable after a covered loss.
• Loss assessment coverage for your share of certain association assessments after a covered loss.
• Optional endorsements like Ordinance and Law for interior upgrades.

Your HO-6 has its own deductible. It is separate from any association deductible. Ask your agent how your HO-6 deductible and limits work with the association’s policies and deductibles.

What the master policy covers

The association’s master policy covers the building and common elements as defined in the condo declaration. Think roof, exterior walls, lobbies, hallways, shared systems, and community amenities. The policy scope varies by building and by the language in the declaration.

Common master policy styles:

• All-in or single-entity. The association covers the building and some interior fixtures. You may need less building coverage on your HO-6, but you still need personal property, liability, loss of use, and loss assessment coverage.
• Bare-walls or walls-out. The association covers the exterior shell and common areas. You are responsible for interior finishes and fixtures, so your HO-6 must cover those improvements.

Always read the condominium declaration to confirm where the unit boundaries and responsibilities start and stop. For governance and policy questions, the Florida DBPR’s Division of Condominiums is a helpful reference.

Florida risks that shape coverage

In coastal South Florida, hurricane and wind exposure drive insurance decisions. It is common for master policies to carry hurricane deductibles as a percentage of the building’s insured value, often in the 1 to 5 percent range. That can translate into large dollar amounts after a storm and may result in assessments to unit owners.

Flood is a separate risk. Standard HO-6 and many association property policies exclude flood. If a property is in a FEMA Special Flood Hazard Area, a mortgage lender usually requires flood insurance. You can look up an address on the FEMA Flood Map Service Center and review flood insurance basics to understand what is and is not covered.

Florida’s insurance market can change, which affects pricing, deductibles, and availability for both associations and owners. For consumer updates and guidance, visit the Florida Office of Insurance Regulation.

Assessments and your bottom line

There are two main ways a covered loss can lead to a special assessment for owners:

1. The master policy deductible is shared among owners after a covered loss.
2. Costs above the policy limits or uncovered items are funded by the association, which can result in an assessment.

Here is a simple example. A building insured for 10 million dollars with a 2 percent hurricane deductible has a 200,000 dollar deductible. Depending on your association’s allocation formula, each unit’s share could be meaningful. In club communities with pools, clubhouses, and other amenities, that exposure can be higher.

Loss assessment coverage on your HO-6 can help. Many default policies include a small amount, such as 1,000 to 2,500 dollars. You can often endorse higher limits, such as 10,000, 25,000, 50,000, or 100,000 dollars. Match your limit to the association deductible and your likely share using the allocation method in the documents. Keep in mind loss assessment coverage generally applies only when the assessment results from a covered peril under the master policy.

What lenders usually require

Most lenders require you to carry an HO-6 policy if you have a mortgage on a condo. Requirements vary, so ask your lender early. In the West Palm Beach–Boca Raton–Delray Beach area, underwriters often review project-level risk and documentation.

Common lender expectations include:

• Evidence of an HO-6 policy with coverage for unit interior improvements, personal liability, and loss of use.
• The lender listed as mortgagee on your HO-6.
• Loss assessment coverage, sometimes with a stated minimum. Many lenders accept 10,000 dollars, while some coastal lenders require higher limits.
• Association master policy documents, including the declarations page showing limits, valuation basis, and deductibles, especially hurricane and wind.
• Project review items, such as owner occupancy, litigation status, reserves, and adequate insurance.

Confirm the exact limits and documents your lender needs. That way you can quote the right HO-6 endorsements and avoid closing delays.

Pre-purchase checklist

Request these items during your inspection period for a Boca Raton club condo in 33496:

• Condominium declaration and CC&Rs. Confirm unit boundaries and who insures what.
• Association master policy declarations and the most recent renewal summary. Note limits, valuation basis, and deductible types and amounts.
• Bylaws and rules. Confirm maintenance responsibilities and how assessments are allocated.
• Recent board meeting minutes, ideally 6 to 12 months. Look for insurance renewals, claims, pending special assessments, and reserve discussions.
• Current budget and the latest reserve study. Gauge reserve strength and likely assessment risk.
• Association claims history for 3 to 5 years.
• Certificates of insurance for any separate club facilities.
• Evidence of a fidelity bond or employee dishonesty coverage for association financial handlers.
• Flood zone determination and any available elevation certificate, plus whether there is a flood policy in place.
• Information on pending litigation, including insurance disputes or construction defects.

Bring these documents to your insurance agent and lender so they can align your HO-6 and loan file to the project’s true risk profile.

Club specifics to verify

In club-style condos like Bridgepointe and other villages near Broken Sound, certain amenities may be owned or insured separately. That can change who pays for what after a loss.

Ask these questions:

• Who owns and insures the golf, tennis, pool, or restaurant facilities? The association, a club entity, or another owner?
• If the club is separately organized, does the association guarantee any obligations that could flow back to condo owners?
• What are the master liability limits for amenities and is there an umbrella policy?

Clear documentation up front reduces surprises and helps you choose suitable loss assessment limits on your HO-6.

Right-size your HO-6

Use the documents to tailor your policy, especially in 33496:

• Match building coverage for interior finishes to the declaration. Choose replacement cost for improvements when possible.
• Elect replacement cost for personal property if offered.
• Add loss assessment coverage in a limit that fits the master deductible and the allocation method.
• Consider Ordinance and Law coverage for interior code upgrades after a loss.
• Review your HO-6 deductible so it is practical alongside the association’s hurricane deductible.
• Add flood insurance if property-level or building-level flood exposure exists, especially if a lender requires it.

For neutral, third-party overviews while you compare options, see the Insurance Information Institute’s HO-6 guide and FEMA’s flood insurance basics.

Budgeting and renewal tips

• Check the master policy’s hurricane deductible percentage every renewal. If it increases, consider raising your HO-6 loss assessment limit.
• Review the association’s reserve study and budget annually. Lower reserves can signal higher assessment risk after a storm or major repair.
• Keep a cash buffer for deductibles and minor losses. Even with good coverage, some costs are out of pocket.
• Calendar your HO-6 renewal 45 to 60 days in advance so your lender’s mortgagee clause stays current and you can update endorsements.

The bottom line for 33496 buyers

Condo insurance in Boca Raton is manageable when you separate it into three buckets. The master policy covers the building and common areas, your HO-6 covers interior finishes, your belongings, liability, and loss of use, and a separate flood policy handles flood. The details in your association documents determine how these pieces fit together.

If you want a second set of eyes on which documents to request and how club rules affect coverage, we are here to help. When you are ready to tour, we will pair clear guidance with local insight so you can buy with confidence.

Ready to explore Boca Raton club condos in 33496 and align your insurance the right way? Request a Private Tour & Community Introduction with Anne De Marzo.

FAQs

What does an HO-6 policy cover for a Boca Raton condo?

• Your HO-6 typically covers personal property, interior improvements if not covered by the master policy, personal liability, loss of use, and loss assessment, subject to your policy and endorsements.

How do association hurricane deductibles affect me as an owner?

• Florida master policies often use percentage deductibles; after a covered loss, your association may assess each owner for their share of that deductible based on your governing documents.

Do I need flood insurance for a 33496 condo?

• Flood is usually excluded from HO-6 and many master policies; if your building is in a FEMA Special Flood Hazard Area and you have a mortgage, flood insurance is typically required.

How much loss assessment coverage should I carry?

• Consider aligning your HO-6 loss assessment limit to your likely share of the master policy deductible and any potential gaps; many owners choose 25,000 to 100,000 dollars in South Florida communities.

What condo documents should I collect before I bind my HO-6?

• Gather the declaration, master policy declarations, bylaws, recent minutes, budget and reserve study, claims history, flood zone details, and any separate club insurance certificates for review by your agent and lender.