Condominium dwellers experience some of the best aspects of home ownership and renting. As a condominium owner, you have title to your own “unit” as well as a share in common areas such as lobbies, a swimming pool, parking garage, or garden. The nice part about condominium living is that you are a shareholder in the corporation from which you “rent” access to the common areas. The not so nice part is that you and your fellow owners can be held personally liable if things go wrong. A condominium insurance policy is a low-cost way to worry-free condominium ownership. It provides coverage on your personal belongings as well as liability.