Condo insurance fills the gap between your condo corporation’s master policy and what you personally own. The building’s policy typically covers the structure and common areas — but not your unit’s improvements, your belongings, or your personal liability. A condo (unit owner) policy protects what the master policy leaves out.
What Condo Insurance Covers
A typical Ontario condo policy protects your personal belongings, betterments and improvements you have made to the unit, your personal liability, additional living expenses if your unit becomes uninhabitable, and loss assessment coverage for certain shared costs charged back by the corporation.
Who Needs It
Every condo owner should carry unit coverage — and if you rent your condo out, you will need a different (rental) policy. Review your corporation’s master policy so your personal coverage lines up with where its responsibility ends.
How a Broker Helps
NavInsurance reviews your condo corporation’s coverage and matches your unit policy to it, then compares insurers for the best fit. Bundling with auto often lowers your cost. Learn more on our home insurance page or request a free quote.