While not common, in some cases smaller condo buildings of like size and construction can purchase insurance together to reduce premiums and possible increase coverage options for the condo associations. Another form of pooled insurance is when a condo is large and insurance companies ‘pool’ together to take on part of the risk. If a condo is to be insured for 20 million 4 companies may take 25% of the 20 million in risk so if a loss happened they would each be responsible for 25% of the loss.