No, the condo association’s policy covers the physical property itself, and not the possessions within. Check with your condo association to see exactly what is covered under their policy, and what coverage they recommend, before purchasing a condominium. Most condominium owners believe that their possessions are covered, when they are not.
To have complete car insurance coverage, you need collision, comprehensive, and liability insurance. Liability insurance protects you in cases when bodily or property damage to others has occurred; collision covers damage to the vehicle; and comprehensive insurance covers other contingencies, such as theft and vandalism.