Just like any expensive purchase, you want to make sure your condo and the people who visit are financially protected in the event of damage or injury. Although you can own a condo just like you can a house, you do not own the building the unit is in nor the land the building sits on. Therefore, condo insurance differs slightly from homeowner’s insurance. 

Before you look into condo insurance policies, you’ll need to know what coverage your condo association provides for the entire building and what it doesn’t. Typically, condominium associations have a “master policy” which will detail what damages it covers and what it doesn’t, so you can look up this information there or ask a representative.

Once you know what’s covered under the condo association, you’ll have a better idea of what kind of coverage you need.