Protect Your Condo & Belongings!
Get comprehensive Condo insurance coverage for your condo and personal belongings. Get a quick quote online today and ensure your peace of mind.
Click on one of the below topics to unpack your Condo Owner insurance:
Contents insurance would include clothing, electronics, furniture, etc.; it provides protection for these items while they’re on your property or temporarily removed (like when travelling). This coverage cannot be removed from your Condo insurance policy; however, you can choose the coverage limit.
Click here to see our downloaded checklist to help determine where to start.
To be liable means simply that you are found to be legally responsible. If you are liable for injury to someone or found responsible for damage to another’s property, you can be sued for damages.
Accidents happen, and if one does occur and you’re deemed negligent, you could find yourself with a hefty settlement. This type of insurance is essential because it helps protect you from financial losses that may occur due to a lawsuit.
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Personal Valuables Coverage is a specific insurance amount designated for a high-value item such as jewellery, watches, art, bicycles, instruments, etc. Under this wording, there is a limit to the amount of insurance you can receive during a claim.
Ensure you review the limits in case you need additional coverage.
Living in a building with shared plumbing means you can’t predict what may be going down the drain. But when it comes back up, it’s gross.
Root growth, blockages, or even breaks in pipes exiting your property or apartment building can cause backups in kitchens, laundry rooms, or bathrooms. A standard insurance policy doesn’t provide coverage automatically, but you’ll often be able to purchase coverage as a rider.
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Identity theft is becoming more and more prevalent today. From all the information we put on Facebook to someone stealing your wallet or the mail out of your mailbox, there are unbelievable ways they may try to steal your identity.
For example, you can be reimbursed for obtaining credit reports, notarizing affidavits or other documents used for law enforcement agencies.
In case of any discrepancies between this rephrased text and the official documentation provided by your insurer, please refer to the latter as it takes precedence.
Do you have a mortgage? If yes, you might have also signed up for a form of Life Insurance! Our personalized policies translate to better coverage and premiums that are, on average, 30-50% lower than traditional Creditor Insurance you get through the bank.
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This coverage is designed to protect your interest in your unit if your condominium corporation has no insurance, its insurance is inadequate, or it is ineffective. Coverage for the original unit, such as the walls, original floors, plumbing, etc., is typically insured by the condominium corporation’s master policy.
But if a loss happens and your condo board advises you that the building insurance isn’t cut it, they will assess the remaining cost of the damage back to you.
What is condo loss assessment coverage?
Also known as Condo Special Assessment Insurance, this coverage responds when a loss to collectively owned condo property is lost, and the condo corporation’s insurance isn’t enough. For example, this coverage protects areas like parking lots and pools.
If your condo corporation’s insurance does not cover the total repair cost, it will assess the cost of the damage back to all the unit owners.
Do I need to change my insurance if I rent out my condo?
Yes, as a condo owner looking to rent your property, you must change your insurance coverage.
Your tenant, if required to purchase Renter’s Insurance, will not have the coverage to protect your property as their policy only protects them and their belongings, not your unit. For example, a Renter’s policy does not include Loss Assessment or Contingent coverage.
Do you have a question about condominium insurance?
