Most, if not all condominiums require the unit owners to maintain their own insurance coverage. This policy not only safeguards everything within your unit but also provides protection if any claims arise against the condo corporation’s policy, for which owners may be liable to pay. While living in a condo offers numerous benefits, it’s crucial to recognize that incidents like water damage from a neighboring unit’s mishap can occur. Therefore, it’s essential to secure a condominium owner’s insurance policy to ensure sufficient coverage in the event of any unforeseen issues, saving you from unexpected expenses.