Condominium coverage depends on YOUR use of the Condo (Residing there as opposed to renting/leasing it to a tenant) but the general coverages are below:

Dwelling coverage

This covers the structure of the condo unit itself and upgrades that you made, like your built-in appliances and custom hardwood flooring.

Personal property coverage

Personal property coverage covers your stuff, like your clothing, appliances, furniture, and electronics if they’re damaged, stolen, or destroyed by a peril that’s covered by your policy.

Personal liability coverage

Personal liability coverage protects you in the event that you’re legally responsible for someone else’s injury or damage to their property, like if a friend slips and falls inside your condo or if you accidentally drop a window air conditioning unit on your neighbor’s porch. Lawsuits and hospital bills can add up, so you’ll want to make sure you have enough of a personal liability cushion for a worst-case scenario accident.

Loss of use coverage

Loss of use coverage covers additional living expenses if your home becomes unsafe to live in after a covered loss. If you’re forced to relocate while your condo unit is being repaired, say, after a pipe bursts, loss of use coverage can pay for things like your hotel and relocation costs.

Loss assessment coverage

If the condo’s shared spaces or building exterior is damaged, and there were some remaining costs after the master policy paid out, loss assessment coverage can help pay for those remaining costs so you don’t have to pay out of pocket. Say your master policy contains $500,000 in coverage for the condo building and it’s damaged in a fire that amounts to $525,000. That remaining $25,000 will be charged to all the condo owners in the building, and if you have loss assessment coverage it can help cover your share of it.