Whether you rent or own, in some instances condo insurance may be required. If you rent, check with your landlord to see if they require condo insurance — and if so, what kind of coverage you need. If you own your condo and have a mortgage, you will most likely be required to have a minimum amount of insurance. And the board or management company of your building may also require insurance.

Condo insurance is coverage that helps protect against losses and repair costs for a condominium unit. Condo insurance often provides protection for theft, vandalism, fire damage, water damage, and more.

Not usually. Condo insurance is not generally designed to cover business use of your home. It may include limited protections, such as replacement or repair of computers and other electronic devices, but for more comprehensive coverage, you may require a business owner’s policy.

Do you have a high level of risk or many assets to protect? You can always discuss your liability coverage needs, options, deductible and policy limits with your insurance representative.

If you have liability coverage, and a guest or worker injures themselves in your condo, you might be covered. However, condo insurance may not cover personal injury for you or other residents of the home.