I think it would be easy for a policy to waive contents insurance in such a case, but a lot more challenging if it waived liability. (Otherwise, as a condo ass

I think it would be easy for a policy to waive contents insurance in such a case, but a lot more challenging if it waived liability. (Otherwise, as a condo association or whatever, you could be potentially ruined if any condo owner owns a unit, has "full insurance" as required, and sublets/has a guest burn the entire building down.) Insurers have far deeper pockets than individual property owners, guests, or condo associations. It's possible the condo association would have additional liability insurance above and beyond this which would step in, though.