In a condominium, individual owners of their units typically own from the paint in. In other words, the condo association insures the land, buildings and improvements for replacement and liability. As an owner, you contribute a "condo fee" which includes your share of the association insurance. You pay insurance for your contents - appliances, personal property, etc. It is not expensive but worthwhile.
In a single family home your personal insurance includes the land, building and improvements.