Some things to think about when considering a Condo insurance policy include the following:

Condo insurance closely resembles Homeowners insurance in that it covers risks like fire, weather damage, theft, and vandalism. However, certain perils such as earthquakes and flooding are usually excluded from standard Condo policies. To protect against these risks, you may need to add an endorsement to your policy or, in some cases, purchase a separate policy depending on the insurer's requirements.
Most Condo insurance policies include liability coverage, which protects you if someone is injured on your property. This coverage will help cover medical expenses, potentially preventing litigation or the need for you to pay out-of-pocket for those bills. Liability coverage is usually the least expensive component of a Condo insurance policy, so it's a good idea to ensure you have enough to cover worst-case scenarios.
When buying Condo insurance, it’s just as important to understand what your Condominium Association’s policy covers as it is to know what your personal Condo insurance covers. There are three types of master policies that your Condo Association might have:
"Bare Walls Coverage" offers the least amount of protection. Essentially, it only covers the exterior walls of the structure. Condo owners would be responsible for insuring interior fixtures such as sinks, built-in cabinets, flooring, and more.
"Single Entity Coverage" provides more protection than a "Bare Walls" policy by covering both common fixtures and the walls. However, it usually excludes any renovations or improvements made by the individual condo owner.
"All-Inclusive Coverage," also known as "All-In Coverage," is a policy purchased by the Condominium Association that covers all fixtures and improvements made by individual condo owners. With this type of policy, unit owners are only responsible for their personal property.

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