The policy covers the property owned by the condo association and the association's liabilities (injuries that may occur in common areas for example) as indicated by the bylaws. There are three types of coverage: bare walls-in, single-entity, and all-in.
Coverage starts at the drywall of a unit working outward. This would not cover paint on your walls, fixutres, installations, nor permanently installed appliances. Roofing, piping, wiring, insulation and framing are covered.
This covers everything the bare walls-in policy does but also covers fixures and some finishes to the type of materials that were installed originally. Note that this type of coverage does not cover improvements and upgrades.
Covers the fixtures, installations, and permanently installed appliances as well as improvements and betterments made inside each unit. It does not cover the unit owners' personal property and personal liability.
