Typically, condo association insurance covers only the exterior structure. A personal condo policy, sometimes called an “HO6 policy” or “condominium owner insurance,” covers replacement of drywall, flooring, light fixtures, plumbing, other internal amenities, and any upgrades you’ve made, plus your personal property:
Personal Property Coverage
Protects the things in your home, including furniture, appliances, and clothing. It also covers the things you take with you when you travel and belongings stolen from your car. For expensive items (like jewelry, furs, guns, silverware, computers, and business equipment) you’ll want to consider adding more than just the standard insurance.
Replacement Cost Coverage
If your things are stolen or damaged, Replacement Cost Coverage pays to replace your belongings at today’s prices (as opposed to what you paid for them or what they’re currently worth).