While condo insurance protects you from accidental and sudden losses, there are some losses that aren't covered:

Appliance breakdowns
Most condo insurance doesn’t cover basic maintenance repairs. For example, if your water heater cracks, your coverage most likely will not help to replace the water heater (but it may help pay for damage to your floors). That's why it's a good idea to have all your heating, cooling and plumbing systems regularly serviced.
Floods, earthquakes and water backup
Floods, earthquakes and water (sewer) backups are excluded from most condo insurance policies. If you want to purchase additional insurance to cover these events, talk to your Allstate agent or call 1-800-ALLSTATE.
Certain valuables
In general, condo insurance policies cover your personal belongings up to a certain value. But some collectibles or valuables, like expensive jewelry, furs and silverware may require additional protection to cover their full value.