What is covered under condo insurance?
With homeowner's insurance coverage for your condo from belairdirect, the following could be covered in the event of a covered incident (up to the amount of insurance stated in your policy):
Your personal property
Your personal property includes the things you own, wear or use. These are things like furniture, clothes, shoes and electronics. Your condo insurance policy will help ensure that you don't have to pay out of pocket to replace everything you've collected over the years.
The immovable parts of your condo
This includes things that you own but can't pack up and take with you when you move, like your countertop, your bathtub, and your sinks. This insurance provides coverage if your Condominium Corporation does not have enough coverage to pay for an incident that causes extensive damage.
Improvements you make
Improvements include anything you do to improve or renovate your condo unit, such as laying new floors or renovating your kitchen. Your condominium insurance policy with belairdirect will take the cost of these home renovations to your unit into consideration
Personal liability coverage for condo owners
Rest assured with the knowledge that you're covered in the event that someone accidentally gets injured on your property or if a covered incident causes damage to someone else's condominium unit or property. This coverage may include medical expenses, lawsuits and property damage. Personal liability also protects you if ever you accidentally injure or cause property damage anywhere in the world.
Additional living expenses
If, as a result of damage by an Insured Peril, your dwelling is unfit for occupancy or you have to move out while repairs of insured damage are being made, you may be eligible for financial help to cover your living expenses caused by a covered loss.
Voluntary medical payments
In the unfortunate event that someone gets injured on your property and you are not deemed responsible, voluntary medical payment coverage may pay for medical expenses the injured person may incur as a result of the covered incident.
Please refer to your policy for all terms, conditions, limits and possible exclusions.
Voluntary payments for damage to property
These are payments that can cover unintentional damages you cause to a property that you are deemed not legally responsible for.
What is not included in your condo insurance and what does condo association insurance cover?
Your condo association will typically have an insurance policy in place to cover the structure of the building and all the common areas. These can include spaces such as the ground entrance and lobby, the elevators, staircases and fire escapes for the building, the roof, the courtyard and any other spaces that are used by all members of the condominium building. The condominium association master insurance policy can provide liability coverage for a covered loss in these common areas. Always refer to the condominium bylaws to get a better idea of what your condo association's insurance policy covers.
Optional Water Damage Coverage:
Water damage protection for your condominium
By adding this additional coverage to your condo insurance policy, you'll be protected if water from an external source suddenly and accidentally begins seeping into your condo unit due to an event like rain, snow or leaks.
belairdirect's water damage coverage could protect you from:
You worked hard to pay for your condo. If ever your identity is stolen, S.O.S. Identity could help you protect yourself while reimbursing you up to $25,000 in costs related to restoring your identity and getting your life back.
You'll have access to legal information services related to identity theft. You'll pay no deductible and using S.O.S. Identity will not constitute a claim on your home insurance policy. You'll also get free access to LifeSpeak, the health and wellness platform.
Add S.O.S. Identity to your condo's home insurance policy starting at only $1/month $1.25/month*
Frequently asked questions about condo insurance
Still have questions about condo insurance? We're here to help.
Unlike car owners– who must by law have car insurance, house and condo owners aren't legally required to have home insurance. However, it may be a requirement in certain situations. For example:
Condo or co-op units
If you're buying a condo or co-op unit, your co-owners association may require that you have insurance. You'll need to double-check with your co-owners association, as each is different.
Whatever your living situation may be, we strongly recommend that you do get insurance because it not only protects your home and your personal belongings, it also gives you liability coverage in case you accidentally injure someone or damage someone's property anywhere in the world.
2 - I am planning to go away for the holidays, what can I do to protect my condo from damage while I'm gone?
While we still encourage you to take these steps, you are no longer required to have someone check your home, or shut off your water supply and drain your pipes, or have a monitored alarm system in place during the heating season. All you need to do is keep the heating on while you're away.
Check the terms and conditions of your policy to ensure that you have adequate coverage.