Condo insurance is for you if you are either renting a condo or purchased one. This coverage guarantees you will have financial help should a mishap occur. This coverage is different from the insurance held by a Condo Association. Condo Association coverage is for the area outside of your unit. It covers the grounds and the foundation of the building. But condo insurance provides protection for your personal area.
The main insurance for the building covers the interior of the building, all of the appliances within the building, and property put there for use by tenants. But you need condo protection for situations such as theft, fire and other disasters such as tornadoes. You might also need additional coverage if your property consists of special items like expensive jewelry and art.
A condo policy may also cover liability and additional living expenses. Additional living expenses provide temporary payment for living quarters should your condo become unlivable. A liability takes care of claims that result from a visitor saying they have been hurt while on your personal property.
This policy may not be a requirement, but he should consider it. Without this coverage you will have no recourse should your personal belongings become damaged or stolen. If you live in a condo, condo insurance is worth a look.