Condo insurance is coverage that can be invaluable if you’re a condo owner facing unexpected expenses.
The insurance provided by your condo corporation (also known as a strata corporation, condo association or syndicate of co-owners) will generally cover the main structure and common areas, but some items are considered your responsibility. When it comes to things like your belongings, unit improvements/betterments, and loss assessments, your building's coverage is unlikely to apply. Having condo insurance allows you to cover the important stuff inside your actual unit. Not sure how much coverage you need? We'll work with you to determine your contents coverage requirements. And we'll provide you with 10x that amount through our Global Amount Coverage as a single limit, to protect the things that need coverage in your unit.
Having a policy dedicated to your condo protects you in more situations than the condo corporation’s coverage, and can protect you beyond the walls of your unit. It’s a home insurance solution you can lean on when faced with the unexpected.