Like a home, a condominium is a significant investment for most people and protecting that investment and the contents are critical to asset management.
However, condos differ from houses in that parts of them are owned by the group, not the individual. Structural damages to a condominium are going to be covered by the condominium association or other owner’s group, not by individual condominium owners, which means that condo insurance is going to differ from homeowner’s insurance. In order to know what type of personal condominium policy you need, you need to know what type of policy your condo association has to cover the building. Generally speaking, their policies will not cover the contents of your home.
Their policy may cover only the primary building and common areas, which would make you responsible for covering damage in your unit. It could cover the building and items in your unit other than personal property, which might exclude improvements you make to your unit. Finally, it could cover your improvements to the unit, your unit, and the building. Knowing where their coverage ends helps you determine the level of coverage you should seek, so that, between their coverage and yours, your home is fully covered.