If you think insurance for your condominium unit is covered by your monthly association fees, think again. Typically, your monthly condo fees are used to fund a building insurance policy and almost never provides protection to any of the betterments, improvements or personal property located inside your condominium unit. A condominium association’s insurance policy is purchased to provide coverage for all commonly owned property, such as the buildings and grounds, and generally extends to the interior of the units insofar as perimeter and partition walls, master plumbing and electrical lines and ceilings and floor below the floor coverings.

Read More About This At: Condominium Insurance Coverage