A condominium association is responsible for carrying insurance that covers the shell of the building and also, liability coverage that is in the name of the association.
The individual unit owner is responsible for purchasing coverage that includes General Liability for the named owner of the property. The named owner is also responsible for building coverage on the inside of the unit and his/her own personal property. This includes any wall, ceiling and floor coverings. The unit owner is responsible for anything from the drywall in, along with any personal property such as furniture, clothing, TV’s, stereos and unattached appliances.
An HO-6 is a package policy that is usually to the owner’s advantage to purchase. You can include medical payments to others, mold coverage and additional living expense. This is an important coverage both from a liability stand point and potential loss to your possessions