Condo Insurance
Unique coverages required for owning a condominium
Fill in the form and one of our brokers will contact you soon.
Condominium Insurance
Coverages for Your Condo
Condo insurance requires a unique set of coverages and can vary from building to building. It’s important to connect with a broker to ensure your living situation is properly protected.
Contents Coverage
Protects your personal belongings such as furniture, electronics, clothing, etc.
Liability Coverage
To help with legal fees, medical payments, and settlements if someone is injured in your unit or if you or a family member causes damage to someone else’s property (including other condo units and the common areas).
Additional Living Expenses
Coverage to help pay for temporary housing, food, and other living expenses if you are unable to live at the cottage after a claim, while repairs are being completed.
Betterments & Improvements
Coverage for upgrades you make to your unit that are not part of the original construction or standard finishes. Think renovated bathrooms, upgraded flooring, or custom kitchen cabinets.
Common Area Coverage
In some cases, if the master policy of the condo corporations doesn’t cover certain damages to common areas, you might be assessed for repairs.
Loss Assessment Coverage
If your condo corporation faces a special claim (a significant repair or legal settlement), this coverage helps pay your share.
Building Coverage
If you are responsible for the exterior structure, adding this coverage Insures the physical structure against loss from fire, theft, or natural disasters.
Important Extras
Don’t forget these extra coverages to add to your cottage insurance policy
Guaranteed Replacement Cost
Single Limit Coverage
Protections from Water
Coverages for select water-related damages caused by sewer backups or overland water (i.e. flooding). Some water coverage may not be available depending on where you live.
Valuables
High-value items such as jewelry, furs, fine arts, and collectibles. Standard coverage limits may not be enough – talk to your broker about scheduling your high value items.
Special Limits
Similar to valuables, standard policy limits might not be enough for special items such as:
- Bicycles and e-bikes
- Musical Instruments
- Sports Equipment
- Business Equipment (including computer equipment)
- Home Electronics
Home Warranty
Some insurers offer additional peace of mind by assisting with repair or replacement of major home systems and components. These include central heating and cooling, electrical systems, water heaters, appliances, and more.
Umbrella Liability Coverage
Increases your limit of liability. It can extend an additional liability limit over your Personal Liability Coverage and any auto policies you may have.
Claims Foregiveness
Your first claim is treated as if it never happened. You will keep your claims-free discount as long as you stay with your current insurance company.
Fill in the form and one of our brokers will contact you soon.
Condominium Insurance
Changes to tell Your Broker
Lifestyle changes affect both your premium and how your policy responds, so be sure to keep your broker up-to-date with any changes! Some examples include but not limited to:
Change of Address
Marital Status
Home Office or Starting a Business
Updates to your Condo, including electrical, plumbing, renovations
Aquiring Valuables
Vacant Home or Property
Changing or Starting a New Job
Gig economy jobs including Ridesharing or Delivery of Anything
Renting or Leasing Part of Your Condo
Can where you work save you money?
Looking to Insure another type of Property?
Secure your most valuable asset with the right coverages at the right price
Home Insurance
Insurance for your home’s physical structure, your personal items, and much more
Renter's Insurance
If you’re a tenant, renter’s insurance protects your personal property and provides liability protection
Cottage and Other Property Insurance
Insurance for your other properties including Cottage Insurance, Seasonal Property Insurance, Trailer Insurance, Rental Property Insurance
Watercraft Insurance
Related Blog Posts
Pet Safety for Spring Time
After a long winter cooped up inside, many pets and pet owners can't wait to get outdoors again! The spring sun is here, the weather is warm, and nature is blooming all over, who wouldn't want to get out there and enjoy it with their four-legged friends? But before...
Getting your Home Ready for the Summer
It's spring time! Homeowners across the province are beginning their annual tradition of digging through their garages, sighing deeply at their basements, and getting a good spring cleaning going. Cleaning out old junk is a good start, but that should only be the...
Going Green With your Business
Social responsibility is the watchword for the modern business. While profit, expansion, and other traditional goals will always be the major motivation behind any enterprise, more and more there is a sense that these goals need to be balanced against a broader...
Is it Time for your Home to go Solar?
Depending on where you live, you might have noticed a change in the skyline. More and more, private homeowners are installing solar panels on their roofs, dotting neighborhoods with new eye-catching accessories and piquing curiosity. What seemed like a sci-fi dream...
Easy Tips for a Greener Household
We all want to do our part for the environment these days but it can be tricky to know where to start. The truth is, making your home greener doesn't take heroics or any kind of major disruptions to your usual routine. All it takes is a little more awareness about how...
Your Finished Basement could be a Nightmare in Waiting
The basement used to be the forgotten room of the house. The dusty storage facility stacked with old bicycles, tool boxes with missing pieces, and long forgotten guitars, drum kits, and pottery supplies from discarded hobbies. Nowadays, the basement is cool. It's the...
Canadians can expect more, and worse, floods in the near future
The past five years have seen some of the worst flood activity in Canadian history. From the slow disaster of Richelieu, Quebec in 2011 where record high water levels dragged on for 37 excruciating days, to the flash flooding of the GTA just last July, floods are...
How to Detect, Prevent, and Recover from Water Damage
Nothing will send a chill up a homeowner's spine faster than the words "water damage.” It's one of the most insidious, and potentially costly, threats facing your home. The major frustration with water damage is that the problem often isn't apparent until it's too...
The vital Difference Between Flood and Sewer Backup Insurance
This summer was a real eye-opener for many homeowners in Ontario. Watching footage of Toronto, the largest and busiest city in Canada, brought to a standstill by sudden and dramatic flooding has reminded many of us just how fickle nature can be. Nothing like looking...