Condo insurance should be purchased even if your condominium association has their own coverage. Their insurance might cover the condominium building, commonly owned property, and liability insurance for the association.
However, there are many cases where that insurance policy won't cover you or your things—like a break in, water damage to your living room walls, or someone injuring themselves slipping on your wet kitchen floor.
Condominium policies also protect your personal property and the interior of your unit. IN addition they provide liability protection for bodily injury or property damage to others.
Most policies will include coverage for losses arising from:
Fire or Lightning
Vandalism or Malicious Mischief
Accidental Discharge of Water