Covers the loss or damage to your personal belongings.
Provides legal representation and insurance against judgments. Will help pay legal fees and judgments that may be awarded against you.
Covers medical cost if a guest is injured in or around your unit.
Reimburses for cost of temporary housing during reconstruction.
Condo owners are typically responsible for insuring their units, and the association is generally responsible for the exterior of the units and the association’s property – though that may vary based on the individual state or association requirements.
Building property coverage helps protect real property you own (such as fixtures and other installations that are not typically considered personal property) from damage by events such as fire or vandalism. It typically does not include real property that the association or the other condo owners’ units.
Many policies feature this coverage which allows you to receive the full purchase price of lost items at the time of the claim.