Condo insurance

As a condo owner, you can rest assured knowing that your condo fees and the condo association are keeping the building protected and in top condition. That being said, you still need the right coverage to cover your condo unit and any personal belongings within it.

Why do you need condo owner's insurance?

A condominium is a unique housing option as it allows you to own your property, much like a traditional house. Your condo unit is your private property and your name is on the title. However, because the condo unit is located within a building with other surrounding units, there are certain factors an insurer needs to take into consideration when deciding upon the coverage it needs.

A condo building will typically have a condo association in place to take care of repairs and upkeep to the building and common areas. These are the things that condo fees often pay for.

However, condo fees may not cover damage that occurs within an individual unit. Living in a building with several units in close proximity means that damage originating from one unit could easily spill over to others.

Condo insurance covers the gaps that are missing from traditional home insurance. It will protect your unit and its contents as well as any damage you may accidentally cause to a neighbour's unit, and vice-versa.

With belairdirect, your condo insurance goes above and beyond to cover you and your loved ones. You can get peace of mind knowing that your unit and belongings are protected by a trusted insurance company.

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:

Burst water pipes

If ever a pipe were to burst due to cold weather or washing machine were to break down mid-wash, you could be covered for water damages caused to your condo.

Sewer back-ups

If water should accidentally back-up from the sewer system and begin flowing into your condo, the damages could be covered.

Overland water

If you qualify, water damages caused by overflowing from a lake, river, heavy rain or rapid snowmelt that enters your condo from above ground could be covered.

Ground water

Water damage caused by water suddenly entering your condo accidentally through a basement wall, the foundation or floors could be covered.

See how belairdirect's water damage coverage can keep your condo unit safe.

S.O.S. Identity

S.O.S. Identity

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.

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.

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