Condominium unit owners depend on two insurance policies for protection. The association that represents unit owners living in the same complex purchases one type of policy. This policy covers the "common" areas of the complex - the outside of the buildings and walkways and liability situations that may occur on the "common" property.

The other, a separate unit-owners policy is known as an HO-6 policy. It insures the contents of the policyholder's unit, any additions or alterations made to the unit and loss assessments levied against them by the condominium association. It also provides personal liability protection.

See Also:
If You Own Your Home
If You Rent