Condo insurance can provide coverage for your personal property and much more. For a few more dollars, you can elect to carry Replacement Cost on Personal Property, which ensures that you are reimbursed full replacement value without regard for depreciation after a covered loss. Wondering what constitutes personal property? It is all of your personal belongings such as linens, clothes, pots & pans, furniture, etc.
Your condo unit owner's insurance policy can protect you and your family members against bodily injury and property damage liability claims and any litigation that may result, subject to the limits you select. In addition, you can select medical payments coverage, which can pay for medical expenses incurred by a visitor who is injured at your residence regardless of fault. You can be sued by anyone that comes on your property and is injured, whether they were invited or not.
Be sure to consult your Condominium documents to determine what the Association policy covers, what you are responsible for, and to determine the potential for assessments and coverage needs.