What insurance coverage do homeowners need?

Southampton Bylaws Article XII, Section 3 recommends that unit owners obtain a “Tenants’s Homeowners Policy” with a “Unit Owner’s Endorsement” or equivalent.

Virginia Condominium Act § 55-79.81. states:

C. When any policy of insurance has been obtained by or on behalf of the unit owners' association, written notice of the obtainment thereof and of any subsequent changes therein or termination thereof shall be promptly furnished to each unit owner by the officer required to send notices of meetings of the unit owners' association. Such notices shall be sent in accordance with the provisions of subsection A of § 55-79.75.

We don't recall receiving notice of changes to the Association's master policy in many years.

Is a “Tenants’s Homeowners Policy” with a “Unit Owner’s Endorsement” or equivalent still sufficient?