From Insurance Lounge

Condo insurance is different from a home insurance policy because its designed specifically for condos.

A basic condo insurance policy will cover damages to most of your personal belongings, as well as walls, floors, ceiling coverings, etc. Most condominium by-laws or trust agreements state that the condo owner owns or is responsible for everything within the unit, including permanently attached fixtures and improvements.

With condo insurance, sometimes called an HO6 policy, damage to improvements, additions and alterations of your unit are covered. Your condo insurance policy also covers your belongings and the structural parts of the building that you own.