Do I need homeowners or landlord insurance on a Condo rental?

[Asia Zdziarska]

Hi there, please can anyone tell me if I need to have homeowners or landlord insurance on a condo property that I own?

The HOA has it's own insurance already.

Is there any reason I should be spending money on this? 

I understand that it is necessary on a single family home but is it necessary on a condo?

The property does have a mortgage associated with it so I guess the bank could require it. That could be a reason.

And if so, should it be homeowners or landlord insurance?

I'm not sure an insurance agent will give me the best information for me, they are generally geared towards selling you the insurance...

Thank you for your advice!!