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Yes, if you own the property you need to insure it in case it catches fire etc. You need to do this whether you live in it or rent it out. If you live in it yourself you should also add contents insurance for your furnishings etc.

If you rent it then all you need to do is insure the contents (which are yours or you are responsible for) not the property itself.

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11y ago

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Q: Do condo owners need home owners insurance?
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