Condominium owners have a few special items to consider when purchasing insurance protection. The Insurance Information Institute recommends that condo owners have two policies to protect the condominium lifestyle.

First, there's the individual owner's policy to protect all the contents of a dwelling, as well as structural improvements on the interior of the unit and coverage for fire, theft or other disasters covered in the policy.

Secondly, the condominium association should have a master policy that covers all the common areas the condo dweller shares with fellow owners, such as the roof, sidewalks, common walls and the like.

In addition, condo owners should ask about a few extras on the policy that single-family owners may not have to be concerned about, such as unit assessment coverage. For example, if there's a fire in the lobby of the condo dwelling, you, as an owner, may be levied an assessment to take care of the damage. Unit assessment coverage would cover such a surprise expense so that you have no money out of your pocket.

Other items to consider would include water backup, umbrella liability, flood or earthquake, and a rider to cover expensive items such as jewelry or furs.

For more information on limits and policy explanations, visit the institute at iii.org .