Personal Policy

Condominium

Condominium ownership comes with special insurance needs as the condominium corporation may have coverage for the building and common areas but what about your belongings, improvements and personal liability coverage needs? To ensure you have coverage for your belongings, improvements and personal liability a condominium unit policy is a wise investment. This type of policy can be tailored to best meet your needs and comes with numerous standard features such as:

  • Personal liability coverage – includes court costs, legal fees and certain expenses associated with your defense in a liability suit. As well as voluntary property damage payments up to $5,000 and medical payments up to $5,000, even if you’re not legally liable.
  • Improvements and betterment coverage – covers improvements and upgrades you make to your unit as these will not be covered by the condominium corporation’s policy for the building.
  • Contingent coverage – provides protection for your unit in the event that the condominium corporation’s insurance in inadequate or they haven’t purchased any insurance.
  • Loss assessment for loss to condominium property coverage
  • Loss assessment for liability coverage

There are also numerous discounts you may qualify for if:

  • You haven’t had a claim within the past 3 years (or more)
  • Your home is equipped with an approved home security system
  • You choose a higher deductible
  • Your age and numbers of years continuously insured qualify
  • You live in a fire resistive building
  • You live above the third floor