Federal law requires your lender to make sure you have flood insurance if you have a home loan and live in a federally designated flood hazard area. A condo association should have a master policy that covers the basic structure of the building. Contact us about a condo owners policy that would cover the things inside the unit you own. Usually, one claim will not cause a rate increase. However, more than one probably will.
Many policies cover computers and equipment.
Generally, policies limit how much will be paid if there is a covered loss. If yours is worth more, you may want to ask your agent about adding extra coverage. Check with your agent any time there are changes to your home and life. Homeowners insurance will pay for damages to the flooring. It will not pay for a new water heater.