Rules and policies differ from complex to complex, so be sure to talk to your Homeowners Association and ask questions to make sure you get the right coverage for your condo. Find out what they cover and what you need to insure yourself.
It all comes down to ownership. With a condo, you only own the unit from the drywall inward, which essentially is all you are insuring, along with the possessions inside. As a rule the Homeowners Association policy covers the exterior walls and roof. This is because your Homeowner’s Association is the entity that owns the outer building. You, the condo owner, own only your unit and share the exterior protection of the building with the other people who live within it.
You need a policy to cover stuff the Homeowner’s Association won’t cover if a big event occurs, like a fire or the destruction of the building, etc. You need to cover structural elements within your condo including things like appliances, flooring, etc. (these things are typically covered under the dwelling limit part of a homeowner’s insurance policy), it is important to make sure you have a large amount of claim coverage here.