A condominium association can require unique liability insurance coverage which excludes liability assumed by tenants. A condo association searching for general business liability insurance in Florida should understand what can be covered in condo association insurance and what might be excluded.
The most basic liability coverage that is normally included in a condo association policy would protect the association from liability from bodily injury or property damage on the property. This generally will cover any external area of the condominium and any injury that happens in those areas. This coverage is often called comprehensive general liability. Comprehensive general liability may also include coverage against advertising injury, as well as personal injury insurance, which is any type of injury that is not bodily injury, such as wrongful eviction, slander, libel, or invasion of privacy.
Another type of liability insurance that condominium associations may need is directors and officers liability. This type of liability insurance can help protect the members of the association board against claims of negligence or misdeeds as agents of the association. Some policies can also cover losses or damage caused by employees. A professional and licensed insurance agent of commercial liability insurance in Florida can help your association board find the best policy for the needs of the condominium association.