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Condo owners warned: master flood limits rebuild structure, not individual units
Summary
Speakers told Juno Beach condo owners that a master association flood policy typically covers common elements and rebuilding the structure; unit owners should hold their own flood policies because the master policy's $250,000 cap (if present) does not replace individual unit coverage.
During the forum, a resident asked whether the association's flood policy — and a cited $250,000 figure — covers individual unit owners. Chris Banker clarified that association flood coverage is generally purchased for the structure and common elements; it does not substitute for a unit owner's personal flood policy.
"That $250,000 is for the association to rebuild the structure, not your unit," Banker said, explaining that without individual flood coverage a unit owner could be left with a shell and limited interior recovery. He recommended all unit owners, regardless of floor level, maintain their own flood policies to cover interior finishes and personal property.
Banker also clarified loss‑assessment protections and said unit owners should confirm association master deductible clauses do not nullify assessment reimbursement or should purchase endorsements to close gaps. He recommended unit owners maintain receipts and photographic evidence and to coordinate with their insurance agent to ensure the master policy and HO‑6 or homeowners coverages align before a storm.
