Yes! It's much less expensive than a homeowner's policy, because the structure is covered under your HOA's blanket policy, which you pay for through your dues. A condo policy covers personal liability, personal property, fixtures like cabinets and carpet and such, and sometimes special assessments. MAKE SURE YOU GET special assessment coverage. My complex needed a new roof, but our insurance deductible was $275,000, so each owner was assessed $1,027 to pay for the deductible. My insurance covered it, but many people did not have that rider. 4 units are being foreclosed on right now by the HOA because they haven't paid that assessment. You'll be glad you bought a condo owner's policy if something like that happens. I pay $14 a month for mine.
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I own a condominuim. i was wondering if a i need a home insurance? is it a
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