Condo & HOA Insurance: What Board Members Need to Know in 2026
Florida's condo insurance market has changed dramatically. New legislation, rising costs, and carrier exits mean HOA boards need to be more strategic than ever about their insurance programs.
The Florida Condo Insurance Crisis — And What Boards Can Do
If you're on a condo or HOA board in Florida, you already know: insurance has become one of your biggest challenges. Premiums have doubled or tripled for many associations, carriers have left the state, and new legislation (SB 4-D, SB 154) has added structural inspection and reserve requirements.
But there are strategies that can help. Here's what we're seeing work for our association clients.
Understanding the New Requirements
Structural Integrity Reserve Studies (SIRS): As of December 31, 2024, associations with buildings 3+ stories must have completed a SIRS. This isn't optional — and it directly impacts your insurance.
Milestone Inspections: Buildings 3+ stories and 30+ years old (25+ years within 3 miles of the coast) must complete milestone structural inspections.
Why this matters for insurance: Carriers are now requiring proof of completed inspections and adequate reserves before they'll quote your association. Boards that can demonstrate structural integrity and funded reserves get better rates.
Strategies That Are Actually Working
1. Wind Mitigation Reports A current wind mitigation report can save your association 15-40% on windstorm premiums. If your building has hurricane straps, impact-resistant windows, or a hip roof, make sure your carrier knows.
2. Higher Deductibles with Funded Reserves Moving from a $10,000 to a $25,000 or $50,000 deductible can significantly reduce premiums — but only if your reserves can cover the higher out-of-pocket cost. This is a math problem, not a gut feeling.
3. Loss Control Improvements Carriers reward associations that reduce risk:
- Water leak detection systems (can save 5-15% on premiums)
- Updated electrical and plumbing systems
- Proper roof maintenance documentation
- Security cameras and access control
4. Marketing Your Association to Carriers We create detailed submission packages for our association clients that highlight:
- Building age, construction type, and recent upgrades
- Maintenance history and capital improvement plans
- Claims history with context and remediation steps
- Reserve study results and funding status
This "story" approach helps underwriters see your association as a good risk, not just a set of numbers.
What About Unit Owner Coverage (HO-6)?
Unit owners need their own HO-6 policy to cover:
- Interior improvements and upgrades (cabinets, flooring, fixtures)
- Personal property (furniture, electronics, clothing)
- Personal liability
- Loss assessment coverage (if the association's policy doesn't fully cover a claim)
Pro tip: Make sure your HO-6 policy's loss assessment coverage is at least $25,000-$50,000. With rising association deductibles, special assessments after claims are becoming more common.
Need Help With Your Association's Insurance?
We specialize in Florida condo and HOA insurance. Request a free association insurance review or call (904) 900-5063 to speak with Ricardo directly.
Check out our dedicated Condo & HOA Insurance page for more information.
Ricardo Alonso
Founder, Atesa Risk Advisors
Ricardo is a RamseyTrusted insurance advisor with a Harvard ALM in Finance. He founded Atesa Risk Advisors to bring honest, independent insurance guidance to Florida businesses and individuals.