Florida Community Association Manager Practice Exam

What must each condo member insure in their own unit according to insurance coverage requirements?

1. Walls and ceilings only

2. Only appliances

3. Floor, wall and ceiling coverings, appliances, and electrical fixtures

4. Only built-in cabinets

The correct answer is: Floor, wall and ceiling coverings, appliances, and electrical fixtures

Condo members are required to insure a comprehensive range of items within their units, which includes the floor, wall and ceiling coverings, appliances, and electrical fixtures. This requirement is designed to protect individual unit owners from potential losses or damages that may occur within their personal living space. By insuring these elements, members ensure that they are covered for repairs or replacements needed as a result of various risks, such as fire, water damage, or other unforeseen events. This is an important distinction in condominium insurance, as the association's master policy typically covers common areas and the structure itself, but does not extend to the individual units. Thus, it becomes the responsibility of each unit owner to cover the specified components within their own unit to avoid potential financial burdens from damage or loss. While other options mention limited items like walls and ceilings or specific appliances, they do not encompass the full scope of coverage that is advisable for condo members. This broader coverage approach ensures that all necessary components are insured, reflecting the best practice in condominium insurance management.