If your home is a condo, you need an insurance policy that is different from a conventional homeowners policy. Damage to the structure may be covered by the condominium association master policy. Clothing, furniture, appliances, and personal property are not, nor is an injury to a guest inside your condo. An insurance policy designed just for a condominium owner will provide coverage for these situations. Condo insurance is a good investment and an affordable way to get peace of mind.