This is an especial type of insurance designed specifically for people who live in an apartment. It is derived from condo or co-op proprietors who are actually own their property but with limitations.
This insurance is for those people and made to help them. Condominium insurance lends a hand in protecting your personal co-op property and its core. Therefore, if you live in an apartment which is co-operative one, then you should go for this type of insurance.