Protect your condo unit and your belongings from damage.
Condominium insurance is varies and there isn’t a standardized policy, which is why it is best to have the licensed insurance professionals at Jeffery & Spence assist you when purchasing insurance coverage for your condominium.
Condo by-laws can vary greatly from one building to the next, so it is imperative to provide this information to your licensed insurance broker and have them review your by-laws to ensure that you have adequate coverage.
Your broker will also help you better understand what you are responsible for insuring and what the condo corporation will insure.
Condo Insurance Coverages
Some important condo coverages to consider include:
Coverage for your personal belongings.
Improvements and Betterments Coverage
Covers any upgrades made to your unit. Upgrades can be either by you or by any previous unit owner.
Loss Assessment Coverage
Covers any loss or damages to the common elements of your condominium, which can be levied back upon the unit owner by the Condo Board.