It is insurance that can be taken out for:
a) Entire property (the entire property is insured under the same policy) with significant advantages.
b) Part of the property (only some of the units are insured—minimum of 50% of the units). This insurance retains many of the advantages of having a single policy for the entire property. Common when one or more co-owners wish to remain outside the condominium insurance.
c)Common Areas – Covers common areas of the property as well as problems originating in that part of the building, such as plumbing, roofs, and other common areas.
Care should be taken to insure according to thereconstruction valuefor walls or the replacement value for contents.https://dev.r2seguros.pt/blog/valor-de-reconstrucao-no-seguro-multirriscos