Condo Insurance

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Condo Insurance For insuring a condo there are two parties responsible for insuring various aspects of a condo complex. They are the Condo Association or also sometimes known as Condo Corporation and the individual who owns the Condo unit.

Condo Association or Condo Corporation

The Condo Corporation or the Condo Association is responsible for insuring the buildings, the common area, the boilers & machinery, miscellaneous equipment, furniture & fixtures located in the common areas, and adequate liability limit. This is covered under a Master Policy and the cost is paid by all the condo owners in the complex. This cost is included in the condo fees paid monthly by each individual condo owner.

The Condo Owner

The Condo Owner is responsible for insuring their personal belongings (furniture, appliances, electronic equipment, clothing, sports equipment etc.). The condo owner’s policy also includes coverage for additional living expense, loss assessment, improvement and betterments and liability coverage.

The Condo Owner’s Policy Insures:

  • Personal Belongings: insures your personal property both in and while temporarily away from your condo.
  • Liability: provides financial protection to you if due to your negligence you injure someone while they are on your property.
  • Additional Living Expense: covers additional expenses if you need to move out of your condo while repairs are being made as a result of a claim arising from an insured peril.
  • Upgrades to Condo Unit: losses to upgraded items in your condo unit are typically not covered by your Condo Corporation or Condo Association policy. This coverage will insure the upgrades made to your condo unit.
We offer several discounts on Condo Owners Policy. The following are some of the discounts:
  • Alarm System (centrally or locally monitored).
  • Claims Free.
  • Mature (50 years+ of age).
  • Mortgage Free.
  • Multi-Policy (condo policy combined with auto policy).
  • Occupation.
  • Stability of Residence (if you have been at the same location for a certain period of time).
  • Water sensors.

Payment Options

  • Monthly Installments
  • Payment by Credit Card
  • Quarterly Installments

How Can We Help

We represent several leading insurance companies and are able to get quotes from these insurance companies. Since 1979 we have been helping Canadians for all their personal or commercial insurance needs. One of our several experienced, knowledgeable Account Managers will be glad to provide you with a quote from several insurance companies and will explain to you in detail all the coverages and options available for your condo insurance. “We do the shopping for you”

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Coverage is subject to policy wordings, terms, conditions & deductibles. Protection is limited to the peril, coverage, exclusions, limits etc. as shown on the policy