Condo Insurance

Condo insurance is different than renter or homeowner insurance. The main reason is the unique relationship between the condo corporation and the individual condo unit owners.

Condo Corp and Unit Owner insurance policies are designed to complement each other so that each interest is protected without duplicating coverage. In general terms, the condo corporation’s policy is designed to insure the structure of the building(s) and all common areas. The individual unit owner’s insurance is designed to insure the interior of the individual unit.

Condo insurance can be complicated. Each condominium can have a unique set of by-laws which set out the relationship between the condo corporation and unit owners as well as between unit owners. Insurance policies need to be flexible enough to satisfy various arrangements.

To learn more about condo insurance coverage and considerations, read our “Understanding Condo Insurance” blog post.

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