Your condo association has insurance. It doesn't cover you.
The building is insured. Your unit interior, your belongings, your personal liability, and your share of any special assessment after a covered loss? That's on you. Most Sarasota condo owners discover this gap at the worst possible time — after a water leak, a hurricane, or a special assessment notice arrives in the mail.
Most Sarasota condo owners pay between $80 and $170 per month — roughly $950 to $2,000 a year — for an HO-6 condo policy. Florida is the most expensive state in the country for condo insurance, with statewide averages running from about $962 to over $1,400 per year, more than double the national average of around $815.
Where you land in that range depends on a handful of factors specific to your unit:
No online estimate replaces a real quote, because two units in the same building can need very different limits based on what's been renovated inside. We provide same-day quotes and review your specific building at no cost.
Your condo association pays premiums on a master insurance policy every year. That policy protects the building structure and common areas. What it covers inside your individual unit depends entirely on which type of master policy your association carries — and most condo owners have never read it.
There are three types:
The most common type in Sarasota. The association's policy covers the structure only — exterior walls, roof, common areas. Everything inside your unit is your responsibility. Flooring, cabinets, countertops, fixtures, appliances, and all personal property. If a pipe bursts in the wall and damages your kitchen, the association covers the pipe. You cover everything else.
The association covers original built-in fixtures as they were when the building was constructed. Any improvements, upgrades, or renovations you've made are not covered. Neither is your personal property.
The most comprehensive master policy type. Covers most of the unit interior as originally built. Your HO-6 policy primarily fills the gap for personal property, improvements, and personal liability.
Do you know which type your association carries? Most Sarasota condo owners find out when they file a claim. We review your association's master policy as part of every condo insurance assessment — at no cost.
Florida Senate Bill 4-D became law in May 2022, fundamentally changing the financial obligations of condo associations across the state. The law followed the 2021 Surfside collapse and has since been amended three times — by SB 154 (2023), HB 1021 (2024), and HB 913 (2025) — so the rules in effect today are not the rules as originally written.
Associations with buildings three habitable stories or higher must now complete a structural integrity reserve study (SIRS) and maintain fully funded reserves for critical components: roof, load-bearing walls, fire protection, plumbing, electrical, waterproofing, windows, and exterior doors. The initial SIRS deadline was originally December 31, 2024, but HB 913 extended it to December 31, 2025. Reserves for these structural items can no longer be waived.
For many Sarasota condo communities, this has meant significant reserve shortfalls and resulting special assessments — with the bulk of those notices materializing across 2024 and 2025. Owners in some buildings have received assessments for tens of thousands of dollars, occasionally six figures, sometimes with limited notice.
Here's where your HO-6 comes in.
Loss assessment coverage responds when you're responsible for a share of an association assessment following a covered loss. Under Florida Statute § 627.714, every residential condo unit policy must include at least $2,000 of loss assessment coverage — and that statute caps the deductible on it at $250. Many basic HO-6 policies are written at exactly that $2,000 floor. In today's Sarasota market, where structural assessments routinely run into five and six figures, the minimum is effectively meaningless.
The good news: raising this limit is cheap. Moving from $2,000 to $25,000 or $50,000 of loss assessment coverage typically adds well under $50 a year on most carriers. It's one of the most cost-effective coverage decisions a Florida condo owner can make.
If you own a condo in Sarasota and haven't reviewed your policy in the last two years, there's a real chance your loss assessment coverage doesn't reflect what assessments actually look like in your community now.
When a named storm is the triggering event, the master policy's hurricane deductible -- typically a percentage of the building's insured value -- can itself generate the shortfall that becomes a per-unit assessment. Our guide covers how Florida's percentage hurricane deductible works for condo owners on both the building and unit levels.
We review this as part of every condo insurance conversation — no obligation, no pressure.
Sarasota has one of the most diverse condo markets in Florida. The insurance considerations vary significantly depending on where and what you own.
Older buildings face elevated insurance costs due to age, building systems, and the increased scrutiny that followed Florida's legislative changes. Master policy premiums in many of these communities have increased substantially, and those increases pass through to owners.
Generally lower flood risk, but special assessment exposure from aging infrastructure and reserve funding gaps is just as relevant here.
Often have unique association structures, amenity coverage considerations, and seasonal residency patterns that affect policy needs.
Flood zone exposure is a real factor. Many units in beachfront and near-beach communities sit in FEMA-designated flood zones, which affects both what the master policy covers and what your personal policy needs to address. Flood insurance for your condo contents and interior is a separate policy — and a conversation worth having.
Every building is different. Every master policy is different. The right HO-6 for a downtown Sarasota high-rise looks nothing like the right policy for a Siesta Key ground-floor unit.
Ask about flood insurance options or bundling your condo and auto coverage when you request a quote.
Walls, flooring, ceilings, and fixtures not covered by the master policy. Under a bare walls policy, this is extensive.
Furniture, electronics, clothing, appliances, jewelry. Coverage limits should reflect actual replacement cost, not what you paid years ago.
Your share of association-level assessments after a covered loss. Florida law sets the statutory minimum at $2,000 — in today's Sarasota market, that number is effectively meaningless. We'll review your specific building when setting this limit.
If a guest is injured in your unit, or you cause damage to a neighboring unit — an overflowing bathtub, for example — personal liability coverage responds. The master policy does not.
If your unit becomes uninhabitable after a covered loss, this covers temporary housing, meals, and related costs while repairs are made.
Plumbing failures, appliance leaks, and HVAC issues are among the most common condo claims. Coverage terms vary significantly between carriers.
If you renovated your kitchen, updated the flooring, or added custom finishes, those improvements are not covered by the original unit valuation under most master policies.
Scenario One
A pipe behind your bathroom wall fails. The association covers the pipe repair. Water damaged your floors, cabinets, vanity, and personal property. Without an HO-6, those costs are yours entirely.
Scenario Two
Your building's reserve fund is underfunded. The association issues a special assessment of $18,000 per unit to fund a required structural repair. Your loss assessment coverage limit is $2,000. You write a check for $16,000.
Scenario Three
A visitor trips and injures themselves in your unit. The association's master policy doesn't cover what happens inside your unit. Without personal liability coverage in your HO-6, legal costs and damages come out of pocket.
None of these are rare events. All of them are preventable with the right policy in place.
The most common — and most costly — misunderstanding in condo insurance. The master policy covers the building. It does not cover you.
Florida law sets the statutory minimum at $2,000. Many basic HO-6 policies are written at exactly that floor. In today's market, with large-scale structural assessments becoming more common, it's inadequate by an order of magnitude.
If your unit has been renovated — upgraded flooring, new kitchen, custom tile — those improvements won't be covered at their current value unless your policy specifically accounts for them.
Actual cash value policies pay depreciated value. Replacement cost policies pay what it actually costs to replace them today. The difference on a full-unit water loss can be substantial.
Standard HO-6 policies don't cover rising water from external sources. For Siesta Key, Lido Key, and other coastal locations, this is not an optional conversation.
SB 4-D changed the financial landscape for condo associations statewide. Policies written before the wave of special assessments in late 2024–2025 were underwritten in a different environment. If yours hasn't been reviewed, it should be.
Full-time Sarasota residents
Primary residence coverage with liability, personal property, and loss assessment limits appropriate for full-time occupancy.
Seasonal residents
Policies for owners who split time between Sarasota and another state. Vacancy periods affect coverage terms — this matters and is often overlooked.
Investors and rental owners
Units rented out require different coverage than owner-occupied units. Standard HO-6 policies often exclude rental activity.
Recent buyers
New condo owners frequently receive a policy requirement from their lender without understanding what they're buying. We explain it.
Owners reviewing after an assessment notice
If you've recently received a special assessment and want to understand your coverage options going forward, we can help.
Serving: Downtown Sarasota · Siesta Key · Lido Key · Longboat Key · Gulf Gate · Palmer Ranch · Lakewood Ranch · Fruitville · Osprey · Nokomis · Venice · Bradenton
This page was reviewed by Cody Alexander Lamb, a licensed insurance agent serving Sarasota and the surrounding communities. Cody holds Florida license #G034846 with active appointments across personal lines, property & casualty, and life & health — covering auto, home, flood, condo, commercial, and bundled coverage for Sarasota-area clients since 2024.
License status can be verified through the Florida Department of Financial Services. If you have questions about your condo coverage or want a no-obligation review of your current policy, reach out directly.
No Florida law requires you to carry an HO-6 policy. However, if you have a mortgage, your lender will almost always require it. Even with no mortgage, going without leaves your interior, belongings, and liability completely exposed, since the association's master policy doesn't cover them.
Your HO-6 covers the interior of your unit (to the extent the master policy doesn't), your personal belongings, your personal liability, additional living expenses if your unit becomes uninhabitable, and your share of association assessments after a covered loss. The master policy generally covers only the building structure and common areas.
The legal minimum under Florida Statute § 627.714 is $2,000, but that's rarely enough given recent structural assessments running into five and six figures. Most Sarasota condo owners should consider $25,000 to $50,000. The added premium is usually under $50 a year.
No. Standard HO-6 policies exclude flooding from external sources like storm surge and rising water. If your unit is on a lower floor, in a flood zone, or in a coastal area like Siesta Key or Lido Key, you need a separate flood policy through the NFIP or a private flood insurer.
Most owners pay roughly $950 to $2,000 a year, depending on building location, walls-in coverage limit, hurricane deductible, and whether the unit is owner-occupied or rented. We provide same-day quotes specific to your building.
Replacement cost is almost always the better choice. It pays what it costs to replace damaged property today, while actual cash value pays a depreciated amount. On a significant loss, the difference can be thousands of dollars.
Whether you're a new buyer, a longtime owner who hasn't reviewed your policy since before Florida's legislative changes, a seasonal resident, or someone who just received a special assessment notice — we'll give you a clear picture of where you stand and what it costs to be properly covered.
You Paid Off Your Mortgage — Should You Drop Your Homeowners Insurance? →
Florida doesn't require homeowners insurance once your mortgage is paid off — but the risk doesn't disappear with the loan. A Sarasota-based look at the real numbers before you cancel.
Flood Zones, Home Insurance, and Sarasota Neighborhoods →
Moving to Sarasota? Most out-of-state buyers have never had to think about flood zones, wind mitigation, or separate flood policies. Here's a practical orientation before you sign anything.
High Value Home Insurance: What Coverage Actually Costs →
What high value home insurance covers, what it costs, and how to buy it through a local agent who reviews your home's real replacement value.
