While condos have a master insurance policy on the building, you’ll need to carry your own insurance. If you don’t ask your insurance agent the right questions, you could miss out! A condo insurance policy is a “broad” policy that offers 2 types.
“Loss Assessment” is an additional option that you most likely have to ask for. It’s only about $5 and it covers assessments due to insurance loss (ie: your condo has to pay the insurance deductible after a hurricane and the homeowners have to cover this deductible payment).
Please verify all information with your insurance agent.