You should make sure you read and understand your homeowners association (HOA) agreement, but usually, your condo association’s master insurance policy includes protection for the outer structure of your condo, including the roof, while your condo insurance policy provides protection for the “walls in” of your condo such as flooring, cabinetry, built-ins, stairs and other features of your home that are considered a permanent part of your condo or townhome unit. In addition, your policy provides protection for all of your personal belongings.