Insuring a condominium is different than insuring a house because of the way ownership is structured. A homeowner's policy covers against losses, and covers only what you own. Since there are areas of common ownership in a condominium complex, your homeowners association may have a master policy. The extent of the coverage you buy will depend on what the master policy covers.

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You probably know that a homeowner's policy is essential. But you might also own other types of property with special coverage needs. If you are in the process of building a new home, or if you own a rental property, you should think about safeguarding your investment.

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If you rent an apartment or a house, the building owner is responsible for any perils that befall the property. Rest assured, if the place burns down, your landlord’s insurance is responsible to compensate him for damage to the structure.

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