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Get Condo Insurance Even If You Live in an Association

Condominiums serve as wonderful home options for many buyers. You may not want the heavy upkeep responsibilities of full homeownership. But it may also be time to look for a larger home than an apartment. Condominium ownership can represent the best of both worlds.  

Condo owners still face liability and property risks. They need the correct condominium insurance. What confuses many condo owners is that their condominium association may carry insurance. Some condo owners may decide not to buy insurance because the association carries it. However, don’t let this fool you. Regardless of whether your association has insurance, you still need a policy of your own. 

Why You Need Condo Insurance 

Condo associations often provide common spaces, community organizations and a degree of maintenance for owners. The association may carry insurance for the risks its activities pose to the property or other owners. 

However, association insurance may not extend coverage into the domicile of the homeowner. Association policies may only cover common liabilities and the exterior of your residence. Once you enter the four walls of your condo, many and insurers consider that to be your personal space. It is usually not the property of the association. For this reason, most condo owners need a personalized insurance policy. 

Personalizing Your Condo Insurance 

When getting a condo policy, the coverage must reflect an owner’s unique risks. You may think your property is identical to the one next to it. Think again. Your occupation of the condo opens it up to an entirely new set of risks.  

Condo policies usually contain coverage elements similar to renters or homeowners insurance: 

  • Interior coverage can insure risks inside the four walls of your apartment. Should a fire break out in your kitchen, you might use this coverage to repair the damage and replace lost property. 

  • Personal property coverage can help protect your personal items within the condo’s space. You might use these funds to replace furniture, electronics or clothing following a damaging incident. 

  • Liability coverage may help protect the specific risks you pose to third parties. Let’s say your pet bites a guest in your home. Liability coverage may include pet bite protection. It can help you compensate the injured party. 


Before buying a condo insurance policy, talk to your condo association. Find out what its insurance policies cover, and how much protection they provide. Then, talk to your personal insurance agent. Your agent can help you enroll in a specific policy that covers risks not protected by condo association policies.