Condominium Insurance is similar to homeowners insurance. You want to protect your condo unit and your belongings. Having a condominium is really having a type of ownership rather than a type of building.
With a condominium, you own some parts yourself (your unit), and then other parts in common with the rest of the community (clubhouse, pool, parking areas, etc.).
Condominium association rules vary association-to-association, but in general, you buy insurance for the property you own individually. That may be your contents, interior walls, or more. Your liability coverage would be the same as homeowners liability coverage.
The condominium association will likely have property insurance on the common areas, and liability insurance (usually with a high deductible) that covers accidents in the condo complex. It is really important to understand the insurance requirement as stated in your particular condominium association agreement.
