Condo insurance covers liability costs if guests are hurt in your home, as well as stolen possessions or damaged.
Unlike homeowners, condo dwellers do not own the building they live in. Your condominium or homeowners association (HOA) will take a master coverage to insure the building and pay for injuries which happen on outside property or in common places.
Nonetheless, your HOA may not pay to fix the interior of your unit nor will it replace your stolen or damaged possessions or cover liability costs if guests are injured in your condominium. That is why it's wise to protect yourself with personal condo insurance.
In this article
HOA vs. condo insurance
What condo insurance does not cover and does
Much condominium insurance Expenses
Much condo insurance to buy