Many people wonder if they need Condo Insurance as the condominium building overall should have their own insurance. However, the shared insurance policy typically only covers the common areas (such as the lobby, gym and elevator). Therefore, excluding your personal belongings and any improvements made to your unit. Additionally, the shared insurance policy may not provide any liability coverage and so will not protect you against any claims made against you. Condo Homeowners Insurance is a great option to provide that additional layer of protection.