Condo homeowner insurrance?

say your condo burns to the ground.. how is it covered? HOA fees.. insurrance? what's the deal?

i want to gain a condo but i need to know everything first

Answers:    You have insurance for the inside of the component, usually from the drywall out. The homeowners association takes out insurance that covers the rest of the building. You pay for their insurance as segment of your assessment.
Typically the hoa has a policy for the building.
THat means if they recreate, you get a front door and a shell.
Everything inside of the common walls is your problem.
You obligation to get a rider policy for the parts of your home that are not communally owned.
Also, you need to check if within is some obscenely huge deductible for the community policy.
You don't want to pay 15k out of pocket when you are living in a motel.
Some hoa's hold out in-unit insurance as part of the main policy.
The caveat on deductible still holds.

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