Condominium owners typically own only the inside of their units; the exterior owned by association. Insurance must be evaluated based on the condominium bylaws. These bylaws define ownership, which in turn determines the required amount of property insurance.
The condo unit owner will need to insure their personal property, and likely certain building exposures defined by the bylaws. This may include carpeting, paint, drywall, plumbing, wiring, and more. The unit owner is also be responsible for assessments brought by the association for damage to common property.
It can be daunting to determine the approprate coverage in these situations...we can help!