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Step 1
Ask your condo association what portions of your condo are covered by their insurance and what you are accountable for.
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Step 2
Insure those areas sufficiently to cover potential repairs or replacement that the condo association will not. List the contents of your condo, including your personal belongings, appliances and decor. These items are generally entirely your responsibility and not covered by your association's policy.
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Step 3
Estimate the total cost to replace the items. Do not estimate what they are worth, but rather how much money it would take to get a new item. When you buy insurance for a condo, you need to account for the effort and cost of replacing them should something occur.
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Step 4
Purchase liability insurance. Condominium policies do not cover your condo or the events that take place inside of them. Should an accident occur, you may be held liable for injuries sustained in you condo or damage done to the building or other units.
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Step 5
Pay a portion of the cost of damage if your association's coverage will not fund the entirety of the claim. Buy insurance for a condo so that these fees will not be taken out of your pocket.
