Condo Insurance in Calgary and Throughout Alberta
Many people love the lifestyle that owning a condo brings, there are many benefits to living in a condo. Whether it is a primary residence, seasonal residence or an investment, people who own a condominium or are looking to buy a condo may not be aware that there is a difference in an insurance policy with condominium insurance rather than owning a single family home. Our brokers are here to make sure you have the right coverage.
- Liability Insurance covers you if someone is injured when in your condo or if you injure someone or damage their property.
- Theft of your personal belongings
- Loss Assessment Coverage protects you against your portion of a shared property claim over and above the strata amount.
- Improvements and Betterment’s protects you against any improvements to your unit such as any renovations and upgrades that are not typically covered by condominium corporation.
Condo Board Insurance Policies
The condo board insurance covers any damage to the building and property itself, where the condominium owners are responsible to have insurance for their units.
Common areas for a building or strata type property such as main entrance, halls, common rooms, gym, hot tubs, pools, parking areas, stair wells, elevators. If there is an insurance claim that is over and above the strata’s policy threshold, each units owner would be responsible to cover the gap in the cost. This is where Loss Assessment supports and protects each unit owner.
Contact us today by calling 403-250-3121 for more information or fill our the form below!