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Is your home adequately insured? Most insurance policies provided through your HOA do not cover the very essentials that make your house a home. Your HOA has invested money into your town home or condominium and their only interested in protecting their investment. That is why their policies usually only cover your home from the drywall out. This does not include any of your personal property. This also does not pay for your Personal Liability in case you are sued or for your Loss of Use to pay for other living arrangements while your home is being repaired due to a covered loss.