Posted by Rich-CA on January 02, 2008 at 20:22:57:
The HOA insurance would only protect property that is common: the structure (in case of a structure fire) but not the paint inside the unit (unless the fire was caused by something the HOA is responsible for) as an example. Liability insurance extends solely to common areas (pool, sidewalk, and so on) and not to “your” property (inside the unit, balcony). Depending on the CC&Rs, the windows may or may not be your responsibility.
You need a policy that covers what the HOA does not and can cover the HOA if, say, a tenant sets fire to your unit and it burns down the structure (you can bet their insurance company will try to collect from YOU if that happened).