Protect your unit, belongings, upgrades, and personal liability with coverage designed for condominium owners.

Condo Insurance

Understanding Condo Ownership

Condominium ownership combines aspects of home ownership and shared property living. While you own your individual unit, you also share ownership of common areas such as hallways, elevators, parking areas, and recreational spaces.

Coverage responsibilities can vary depending on the condominium corporation and bylaws, making personal condo insurance an important part of protecting your investment.

Common Property May Include

  • Lobbies and hallways
  • Elevators
  • Parking garages
  • Rooftop patios
  • Pools and recreation spaces
  • Shared roadways

What Does a Condo Corporation Do?

Property Management

Maintains and manages shared spaces and common property throughout the building or development.

Financial Management

Collects maintenance fees, manages reserve funds, and oversees building-related expenses.

Rules & Operations

Establishes bylaws, oversees operations, and helps ensure owners comply with condominium regulations.

Understanding Condo Insurance Coverage

Typically Covered by the Condo Corporation

  • Building structure
  • Hallways and common areas
  • Roofs and exterior areas
  • Shared amenities
  • Original fixtures and finishes
  • Corporation liability coverage

Typically Covered by Your Condo Policy

  • Personal belongings
  • Furniture and electronics
  • Additional expenses
  • Personal Liability
  • Unit upgrades and improvements
  • Storage locker contents

Why Personal Condo Insurance Matters

While the condominium corporation may insure the building itself, that coverage often does not extend to your belongings, liability, or unit improvements.

Condo insurance can help protect you from unexpected expenses related to fire, water damage, theft, liability claims, and temporary displacement after a covered loss.

Without Personal Coverage You May Be Responsible For

  • Replacing personal belongings
  • Damage originating from your unit
  • Liability claims from visitors
  • Condo deductibles or assessments
  • Temporary living expenses

Optional coverage

Increased Improvement Coverage

Protects upgrades and custom improvements that may exceed condominium corporation coverage limits.

Examples:

Custom flooring, counters, cabinetry, built-ins

Contingency Coverage

Provides added protection if the condominium corporation’s insurance coverage is insufficient after a covered loss.

Loss Assessment Coverage

Helps cover your share of major property or liability losses involving common property or corporation deductibles.

Protect Your Condo With Confidence

We can help you compare condo insurance options and choose coverage that fits your unit, belongings, and lifestyle.

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