If you live in an apartment that you own, you may need apartment contents insurance to protect your possessions. This is different to renters contents insurance, where you don’t own the apartment you live in.
In most cases, the actual structure of the apartment building will be covered through insurance arranged by the management company. This insurance will cover the structure against events like fire, flood, storm and water damage.
However, the insurance arranged by the management company, may not cover your cherished possessions and the furniture that you have bought to make your apartment your home. This means that if a fire occurs the structure of the apartment may be covered but your contents may not be.
Please see ourhousehold policy document for more detail.