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Condo Insurance

You have bought the condo of your dreams and you want the best protection for your investment. We are there to help you!

Get the best condo insurance for your needs. Take a moment to browse through the following articles. Feel free to contact us if you have any questions.

  • Coverage A: Unit and Improvements and Betterments
  • Coverage C: Personal Property
  • Coverage D: Additional Living expenses and Fair Rental Value
  • Coverage E: Legal Liability
  • Coverage F: Voluntary Medical Payment
  • Coverage G: Voluntary Payment for Damage to Property
  • Worthwhile additional coverage

Types of co-ownerships Divided co-ownership or condominium

When purchasing a divided co-ownership or condominium, you are owner of your apartment and of a part of the areas shared by all the other owners of the building, such as the corridors, roof, basement, elevators, heating room, swimming pool, parking and garden. It is the most popular form of co-ownership in Quebec.

Undivided co-ownership

Co-owners are not owners of their exclusive part of their residence, rather they are owners of a part of the entire complex. They must therefore get a homeowner policy with a distinct amount for the personal property of each owner, when there are only a few, or a tenant insurance policy when the building includes many owners.

Housing co-operative

It is made up of members who have bought a share. It gives you the right to inhabit a residential unit. You must therefore get a tenant insurance policy.

Building insurance and general civil liability

The Board of Directors or the association of co-owners must purchase a general insurance policy covering the entire building. This policy covers all common areas, and the premium is usually grouped with the maintenance and contingency fees of the building.

You must also consider the purchase of an insurance policy for your possessions and your personal civil liability. Check the following sections to learn more about the types of coverage offered by a Condominium Unit Owner policy.

You may also consult this section : Condominium Syndicate Insurance

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