When you own a condominium, you — not your condo associations — are responsible for what's inside your condo. That's why having a personal condo insurance policy is important. Condo associations have master policies that cover the property, common areas and physical structure of your building. However, these master policies do not cover your personal property or your legal responsibility to others, and they may not cover improvements or customizations to your unit.
As you get condo insurance quotes while shopping for a condo insurance policy, you'll typically select from available coverage, such as:

• Personal property
• Replacement value of your primary dwelling and specified permanent attachments, up to a specific value
• Bodily injury if someone is hurt on your property
• Liability for property damage
• Damage protection from dangers, such as fire, plumbing freezes, vandalism, glass breakage, etc.

A basic condo insurance policy will cover damages to most of your personal belongings, as well as walls, floors, ceiling coverings, etc. Most condominium by-laws or trust agreements state that the condo owner owns or is responsible for everything within the unit, including permanently attached fixtures and improvements.

With condo insurance, sometimes called an HO6 policy, damage to improvements, additions and alterations of your unit are covered. Your condo insurance policy also covers your belongings and the structural parts of the building that you own.