Expert Insights: What Is Condo and Co-Op Insurance?

This insurance protects your investment and personal belongings from most disasters. As an owner, you will need two insurance policies—your own to cover liability, living expenses, your belongings and structural improvements, and a master policy provided by the condo or co-op board. The master policy covers the common areas that you share with others in the building. It is paid for using the monthly condo fee that you and other owners pay.