Do I need condo insurance in Florida?

As of Jan 1st 2009, our HOA requires us to show proof of insurance. I believe it is statue Section 718.111 (11). Anyways, I really don’t have the money for condo insurance right now. I have read online that the HOA can purchase this insurance for me and then assess me for the balance. I recently moved to Port St Lucie, Fl where everyone is unemployed and foreclosures are so common. Anyways, can they place a lien if I do not provide them with proof of the insurance or will they just lay off for awhile? I appreciate any feedback right now as I am so worried. Thanks.