Some people do not understand the value of condo insurance. In general, condominium owners own their condo unit outright, while they have a shared interest and ownership in the amenities offered by the property, such as hallways, pools, fitness centers, etc.
Most condo associations collect a monthly HOA, or Home Owners Association, fee, which is used, in part, to insure the common areas. But everything within the four walls of your own unit is your responsibility to insure.
There are some things you have to decide when looking at condo insurance. First, you need to decide just how much coverage you need.
Consider the value of interior structures in the condo, as well as the value of any recent upgrades you have made - for example, new flooring or new countertops that you have just installed.