No one wants to think about their belongings being damaged or their condo being burglarized, but sometimes these things happen. For many incidents, accidents, and full-blown disasters, condo insurance is there to protect you and the things in your unit.
Shelter if you need it
Your condo policy comes with protection for risks your HOA insurance might not cover, like additional living expenses if certain types of catastrophes temporarily render your unit unlivable. For instance, if a fire breaks out in your condo, you don't have the additional stress of paying for a hotel and meals while your unit is being repaired; your policy covers those costs.
Personal liability protection
Say a friend gets hurt in your condo or you accidentally injure someone away from home. Luckily, condo insurance helps protect your liability so you're not left to pay for medical bills or legal fees if an unfortunate accident turns into a lawsuit.