What type of coverage protects common elements shared by condominium unit owners?

The correct answer is the condominium association coverage form because it specifically provides protection for the common elements and shared areas of a condominium. These areas can include hallways, lobbies, swimming pools, and other facilities that are utilized by all unit owners but are not individually owned. The coverage typically protects against various risks such as property damage, liability, and other specific hazards that could occur within these common areas.

In contrast, individual unit owners' insurance primarily covers the contents and structural improvements within a unit, and not common areas. A homeowner's policy is designed for standalone residences and does not apply to condominium structures and shared elements. Landlord's insurance is intended for rental properties and primarily covers the landlord's liability and property, which also does not extend to condominium communities. Therefore, the condominium association coverage form is specifically tailored to meet the needs of condominium owners by encompassing the coverage necessary for these commonly shared aspects of the property.