Condo association insurance costs doubled since 2022, new data shows (FL)

/ Owner - September 14, 2024

Property insurance costs in Florida continued to rise between the first and second quarters of the year, and condo associations have been hit hardest during that time.  The average cost of a commercial condo association policy — the kind that covers common properties like roofs, structures, and irrigation systems — jumped 6.6% in the second quarter, and over the past two years has more than doubled, increasing by 103% from $72,570 to $147,381, according to newly released data by the Florida Office of Insurance Regulation.    Read the article…………………………….

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