Your HOA is allowed to purchase insurance for units that it owns and leases. This means that if you live in a complex where this is true, you need to look over what that coverage applies to and covers. If there is no coverage or coverage is not adequate, you can purchase insurance to add to it. You also need to check with your mortgage lender to determine if they require you to hold flood insurance for your condo specifically, separate from any coverage that your HOA has purchased. It’s also worth considering that if your HOA has purchased coverage that only covers a percentage of a unit, the HOA could assess owners for the remaining amount. This means your insurance you purchased on your own could help fill in these gaps!