While your homeowners association (HOA) coverage insures the building, it's not responsible for your personal belongings, anything inside your unit, or your share of common area repairs. Check out some of the reasons why condo coverage is a smart buy.
A defense against Mother Nature
New York suffered 6 tornadoes in 2013 alone, which is actually an improvement from the 8 in 2012. Fortunately, you're covered by your policy if a storm blows through and breaks some windows or damages any of your furniture, knickknacks, and more.
Coverage in case of theft
Similarly, if your belongings — whether it's your sound system or your favorite necklace — are ever stolen from your condo, your coverage helps repair or replace your things so you're not stuck footing the bill on your own.