Condo Insurance

A condominium insurance policy covers your contents and permanent upgrades to your condo or townhome. Contents are typically insured on a replacement cost basis (“new” for “old” without the deduction for depreciation).

One area of condo insurance homeowners often overlook is any permanent upgrades made to your unit. This becomes a particular concern when a used condo is purchased. It is important to not only insure your contents, but also the permanent upgrades made by previous owners, as the Strata corporations’ policy will not cover the upgrades.

For further information, please contact any one of our five convenient locations and speak with one of our home insurance specialists.

Some Important Issues to Consider

  • Loss Assessment

    Often Strata owners are faced with an assessment if the Strata policy is insufficient to cover the loss. In this situation, if you have “loss assessment” coverage under your condo policy it will pay for the unit owners’ share of the assessment to a specific policy limit.

  • Liability

    Condo policies contain a limit for personal liability. The limit can range from one million to five million. Personal liability coverage is available to protect you in the event of litigation.

  • Earthquake

    Most homeowners’ policies do not automatically cover earthquake damage, so it is important to know that it can be added at an additional premium. One of our customer service representatives can help to explain earthquake insurance in more detail.

  • Sewer Back-Up Claims

    The backing up or escape of water from your sewer, sump, or septic tank is not insured under most home policies. For a very small additional premium you can purchase the “Sewer Back Up” extension to cover this policy exclusion. This extension does have conditions; we recommend you speak with our home insurance professionals for further details.

  • 24-Hour Claims Service

    Should you experience a claim with any one of our insurers, you can be assured that it will be reported immediately. If emergency work is required, we have a 24-hour emergency response team on call for your convenience. The quicker your claim is handled, the quicker you get your life back in order. Ultimately, that is our goal.

To make a claim call: 1-877-559-7556