CONDOMINIUM-A condominium owner needs two separate policies to protect their home:

A "master policy" provided by their condominium or co-op board, and

Their own personal insurance policy.

As a condominium owner, one needs to insure not only their personal possessions in the condo, but also any built in units such as cabinets, fixtures, appliances, shelves, etc. In addition to covering the personal property, a condo owner also needs liability coverage. The liability portion of the policy would cover injures or damage to people or property that the condo owner would be liable for.