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Cyber Citizens for Justice Town Hall on COA/HOA Law post condo collapse

Building Collapse Miami
(AP Photo/Lynne Sladky)

The biggest news story of the year unfortunately was the collapse of the Champlain Towers in Surfside. And as a result, there is going to be some big changes to the laws regarding reserves and inspections. But attorney Eric Glazer says that under Florida law, there is no absolute requirement that your condominium association insure the building(s). Sounds crazy right? Yet, here is what the law actually says:

“An association controlled by unit owners operating as a residential condominium shall use its best efforts to obtain and maintain adequate property insurance to protect the association, the association property, the common elements, and the condominium property that must be insured by the association pursuant to this subsection.”

Think for a second if Champlain Towers was not insured? The very thought of it sounds impossible, but it isn’t. But wait…..it gets worse. Even if the property is insured the statute says:

“The coverage must exclude all personal property within the unit or limited common elements, and floor, wall, and ceiling coverings, electrical fixtures, appliances, water heaters, water filters, built-in cabinets and countertops, and window treatments, including curtains, drapes, blinds, hardware, and similar window treatment components, or replacements of any of the foregoing which are located within the boundaries of the unit and serve only such unit. Such property and any insurance thereupon is the responsibility of the unit owner.”

According to Glazer, “If your condominium property is insured, but you did not purchase a separate HO-6 policy for your unit. All you get back is your four walls. That’s right, basically a shell.
Flood insurance is also not required.”

Watch townhall on the topic here.