Even if your condominium association has coverage, an individual condo insurance plan can come in handy. For example, their insurance might cover the association's condominium building, commonly owned property, and liability insurance.
Unfortunately, there are numerous situations in which your insurance coverage will not cover you or your belongings, such as a break-in, water damage to your living room walls, or someone tripping on your wet kitchen floor. Therefore, it would be advantageous if you had condominium insurance tailored exclusively to condo or co-op owners.
Condominium policies safeguard your personal belongings and the inside of your unit. You will also have liability protection for bodily injury or property damage to others.