Condo insurance in Hollywood, FL — formally known as an HO-6 policy — protects your unit’s interior, personal belongings, and liability from risks that your condo association’s master policy does not cover. With Hollywood’s coastal exposure, aging building stock, and over 11,000 properties located in FEMA Special Flood Hazard Areas, the right HO-6 policy is essential for every unit owner in this Broward County city. Here’s everything you need to know about coverage, costs, and how to avoid the gaps that leave Hollywood condo owners financially exposed.
What Does Condo Insurance Cover in Hollywood, FL?
An HO-6 condo insurance policy is designed specifically for condominium unit owners. Unlike a standard HO-3 homeowners policy that covers an entire structure, your HO-6 provides “walls-in” protection — covering everything inside your unit that the condo association’s master policy leaves out.
A standard condo insurance policy in Hollywood, FL typically includes:
- Dwelling / Building Property (Coverage A): Pays to repair or replace interior structures like drywall, flooring, built-in cabinets, countertops, light fixtures, plumbing, and electrical wiring within your unit. If you’ve renovated your kitchen or bathrooms, this coverage protects those upgrades.
- Personal Property (Coverage C): Covers your furniture, electronics, clothing, appliances, and other belongings against theft, fire, and other covered perils. You can choose between actual cash value (depreciated) or replacement cost coverage.
- Personal Liability (Coverage E): Protects you if someone is injured inside your unit or you accidentally damage another owner’s property. Limits typically start at $100,000 and can be increased.
- Loss of Use (Coverage D): Pays for temporary housing, meals, and other additional living expenses if your condo becomes uninhabitable after a covered loss — critical during hurricane season.
- Loss Assessment Coverage: Helps pay your share when the condo association levies a special assessment to cover damage to common areas that exceeds the master policy’s limits. Florida law requires HO-6 policies to include at least $2,000 of loss assessment coverage, but in Hollywood’s current market, experts recommend carrying $25,000–$50,000 or more.
- Guest Medical Protection: Covers medical expenses for visitors injured on your property, regardless of fault.
What Your Condo Insurance Does NOT Cover
Standard HO-6 policies in Florida exclude several critical perils:
- Flood damage — Requires a separate flood policy through the NFIP or a private carrier
- Earthquake damage — Uncommon in Florida but still excluded
- Normal wear and tear — Insurance is not a maintenance plan
- Pest or mold damage — Unless directly caused by a covered peril
- Intentional damage — Acts of destruction by anyone in your household
Understanding these exclusions is especially important in Hollywood, where approximately 99% of buildings face some level of flood risk according to climate data. Learn more about flood insurance.
How Much Does Condo Insurance Cost in Hollywood, FL?
Condo insurance costs in Hollywood, FL are among the highest in the state due to the city’s coastal location, hurricane exposure, and the age of many buildings. Here’s what Hollywood condo owners can expect to pay:
| Coverage Level | Estimated Annual Cost |
|---|---|
| Basic HO-6 (low coverage) | $800–$1,200 |
| Standard HO-6 (moderate coverage) | $1,500–$2,200 |
| Comprehensive HO-6 (high coverage, coastal unit) | $2,200–$2,800+ |
For comparison, the Florida statewide average for condo insurance is approximately $962 per year, while nearby Miami averages around $2,280–$2,570 annually. Hollywood falls squarely in the higher range because of its coastal geography and the prevalence of older high-rise buildings.
Factors That Affect Your Premium in Hollywood
Several Hollywood-specific variables determine what you’ll pay:
- Location within Hollywood: Units east of US-1, along Hollywood Beach, and on the barrier island carry significantly higher premiums due to storm surge and flood exposure. Inland neighborhoods like Emerald Hills or Hollywood Hills may see lower rates.
- Building age and construction: Hollywood has a large inventory of condos built before the 2002 Florida Building Code update. Older buildings (pre-1982) typically cost 30–50% more to insure than newer construction due to outdated hurricane resistance.
- Master policy type: If your association carries a “bare walls” master policy, your HO-6 needs more Coverage A for interior fixtures. A “single entity” or “all-in” policy from the association means you need less dwelling coverage.
- Wind mitigation features: Impact windows, hurricane shutters, and reinforced roof-to-wall connections qualify for insurance discounts. Florida law requires insurers to offer wind-mitigation credits.
- Claims history: A single prior claim can raise your premium by approximately 8%. Two or more claims increase rates further.
- Credit score: Florida allows insurers to use credit-based insurance scores. Condo owners with poor credit may pay up to 24% more than those with good credit.
- Deductible choice: Raising your deductible from $1,000 to $2,500 could save roughly 7% on your annual premium.
Hollywood FL Flood Zones and Why Separate Flood Insurance Matters
Standard condo insurance does not cover flood damage — and in Hollywood, that’s a critical gap. FEMA flood maps designate much of Hollywood as Zone AE or Zone VE, both high-risk flood zones that require flood insurance if you carry a federally backed mortgage. Over 11,000 properties in Hollywood have been included in the Special Flood Hazard Area after FEMA’s latest map revisions.
Hollywood participates in the National Flood Insurance Program (NFIP) and holds a Community Rating System (CRS) classification that qualifies local NFIP policyholders for a premium discount of 10–20% on their flood insurance.
Flood insurance options for Hollywood condo owners include:
- NFIP policies: Maximum building coverage of $250,000 and contents coverage of $100,000. A 30-day waiting period applies after purchase.
- Private flood insurance: May offer higher coverage limits, broader protection (including additional living expenses), and potentially shorter waiting periods than the NFIP.
- Excess flood insurance: Supplements NFIP coverage when unit values exceed federal limits — common for oceanfront condos along Hollywood Beach and the Intracoastal.
Even if your condo is technically outside a high-risk flood zone, about 20% of all flood claims in Florida come from moderate-to-low-risk areas. Given Hollywood’s low-lying coastal terrain, network of canals, and vulnerability to storm surge, carrying flood insurance is strongly recommended for every unit owner. Learn more about flood insurance in Florida.
Special Assessments and New Florida Condo Laws: What Hollywood Owners Must Know
The 2025–2026 Florida legislative changes have reshaped the condo insurance landscape across the state, but Hollywood is feeling the impact especially hard. Here’s why loss assessment coverage has never been more important.
The Special Assessment Crisis in Hollywood
Following the 2021 Surfside condo tower collapse, Florida enacted sweeping safety reforms requiring milestone inspections and Structural Integrity Reserve Studies (SIRS) for buildings three stories or taller. Many Hollywood buildings — including some built in the 1970s and 1980s — are now discovering they need millions in structural repairs, and their reserves are severely underfunded.
The Summit Towers Condominiums on Hollywood Beach made headlines when residents faced a proposed $56 million special assessment, averaging nearly $99,000 per unit. This is not an isolated case. Across Broward County, aging condo buildings are issuing assessments ranging from $10,000 to over $100,000 per unit for concrete restoration, roof replacement, elevator modernization, and waterproofing.
Key 2025/2026 Law Changes Affecting Hollywood Condo Owners
- HB 913 (signed 2025): Requires associations to maintain property insurance based on professional appraisals updated at least every 36 months. This ensures master policies keep pace with rising construction costs.
- Full reserve funding mandate: Florida now requires condo associations with buildings three stories or taller to fully fund reserves for structural repairs — or fund at least 75% with annual increases. Decades of waived reserves are now producing large catch-up assessments.
- Transparency requirements: As of January 1, 2026, associations with 25+ units must provide digital access to governing documents, budgets, reserve studies, and inspection reports via a website or app.
- My Safe Florida Condominium Pilot Program: This state program offers free wind-mitigation inspections and grant funding to eligible condo associations within 15 miles of the coast. Buildings three stories or taller with at least two residential units — which describes most Hollywood condos — may qualify for grants that fund impact windows, doors, and roof improvements, potentially lowering insurance premiums.
The takeaway for unit owners: Increase your loss assessment coverage well beyond the $2,000 Florida minimum. In today’s Hollywood market, $50,000 or more in loss assessment coverage provides realistic protection against surprise assessments — and it’s surprisingly affordable to add.
Why Hollywood Condo Owners Choose SOVA Insurance
Navigating condo insurance in Hollywood, FL requires more than a quote comparison tool. Between the flood zone complexities, master policy analysis, and the rapidly changing Florida condo laws, having a knowledgeable independent agent in your corner makes a real difference.
SOVA Insurance is an independent insurance agency serving Hollywood, Miami, and communities throughout South Florida. As an independent agency, we’re not locked into a single carrier — we shop policies from multiple top-rated insurance companies to find the coverage and price that fits your specific condo, building, and budget.
What sets SOVA Insurance apart for Hollywood condo owners:
- Master policy review: We analyze your association’s master policy to determine exactly how much Coverage A, loss assessment, and personal property coverage you actually need — no overpaying, no dangerous gaps.
- Multiple carrier access: We compare HO-6 quotes from multiple Florida-authorized carriers including companies that specialize in coastal condo coverage, so you get competitive rates even in Hollywood’s challenging market.
- Flood insurance coordination: We help you evaluate NFIP vs. private flood options and coordinate your HO-6 and flood policies for seamless protection.
- Multilingual service: We provide full support in English, Russian, and Ukrainian — a significant advantage for Hollywood’s diverse condo community.
- Local expertise: We understand Broward County’s flood zones, Hollywood’s building inventory, and the new Florida condo laws that affect your insurance needs.
Frequently Asked Questions
Is condo insurance required in Hollywood, FL?
Florida state law does not mandate individual condo owners to carry HO-6 insurance. However, most condo associations in Hollywood require it in their bylaws, and any mortgage lender will require you to carry a policy as a condition of financing. Given the city’s hurricane and flood exposure, going without HO-6 coverage is a significant financial risk — even if it’s not technically required by the state.
How much loss assessment coverage should I carry on my Hollywood condo?
Florida law requires a minimum of $2,000 in loss assessment coverage on every HO-6 policy, but this is woefully inadequate for most Hollywood condo owners. With special assessments in Broward County regularly reaching $25,000–$100,000+ per unit for structural repairs mandated under new safety laws, carrying at least $25,000–$50,000 in loss assessment coverage is strongly recommended. The cost to increase this coverage is typically modest — often $50–$150 per year.
Do I need separate flood insurance for my Hollywood, FL condo?
Yes. Standard HO-6 condo insurance policies exclude flood damage entirely. If your condo is in a FEMA-designated Special Flood Hazard Area — which includes much of Hollywood east of US-1 — flood insurance is required if you have a federally backed mortgage. Even in lower-risk zones, a separate NFIP or private flood policy is strongly recommended. Hollywood’s CRS classification means local NFIP policyholders may qualify for a 10–20% premium discount.
What is the difference between the master policy and my HO-6 policy?
Your condo association’s master policy covers the building’s exterior structure, common areas (lobbies, elevators, pools, hallways), and the association’s liability. Depending on whether it’s a “bare walls,” “single entity,” or “all-in” policy, it may or may not cover fixtures inside your unit. Your HO-6 policy fills the gaps — covering your personal belongings, interior improvements, personal liability, additional living expenses, and loss assessments. Both policies work together, but neither alone provides complete protection.
Can the My Safe Florida Condominium Pilot Program lower my insurance costs?
Potentially, yes. This state program offers free wind-mitigation inspections and grant funding to eligible condo associations within 15 miles of the Florida coast. Hollywood qualifies based on its coastal location. The program funds improvements such as impact windows, doors, and roof upgrades that can result in insurance premium credits. Your condo association’s board must apply on behalf of the building — individual unit owners cannot apply directly. Ask your board about participating in this program to lower premiums building-wide.
Get Condo Insurance in Hollywood, FL — Free Quote
Don’t leave your Hollywood condo unprotected or overpay for coverage you don’t need. SOVA Insurance works with multiple top-rated carriers to find the right HO-6 policy for your unit — whether you’re on Hollywood Beach, in Hollywood Hills, or anywhere in Broward County. Contact SOVA Insurance today for a free condo insurance quote and a complimentary master policy review. Call us or request a quote online — we’re ready to help in English, Russian, and Ukrainian.
