Econ, HOA insurance coverage is woefully inadequate. I would bet that 90% of condo owners never have even bothered to read their insurance policy. If you actually read the policy of what is really covered verses a standard hazard insurance policy that you have if you owned a single family home, there are substantial differences, none of them for the better. Furthermore if you have a rental property the insurance coverage you get should be tailored to your non owner occupancy. Otherwise if something happens and you do not have the correct policy you get bubkas.