Your HOA insurance (a master policy) complements your condo insurance. But it covers exterior structures of the property, shared spaces, and the surrounding compound. Covered properties may include:
Hallways
Boiler room
Roof
Common rooms
Swimming pool
Some master policies may cover repairs to the structure of the condo units, such as walls and floors. To be sure what’s covered or excluded, review your condo association’s master policy before purchasing your condo insurance.