A condominium owner's belongings are protected by the personal property (or contents) coverage in a condominium insurance policy. Like homeowners’ insurance, condominium insurance will help replace any property belonging to the condominium owner or family members in the event of a covered loss, up to the policy limit.

Typically, a condominium insurance policy provides coverage for the following categories: 

  • Building property: The unit itself, including walls and fixtures 
  • Personal property: Furniture, electronics, and other movable goods 
  • Personal liability: Legal expenses from claims or lawsuits against you 
  • Loss of use: Costs of lodging/transport if unit is uninhabitable. 
  • Loss assessment: Your portion of any losses shared out by the association.

The main difference between a condo policy and a regular homeowners insurance policy is that an condo policy only covers the interior structure of a unit from the "walls in." Otherwise, both kinds of policies are quite similar in how they cover personal property, liability, and additional living expenses.