Condo Insurance

Home For You Condo Insurance

Condo insurance is often overlooked, but your condo corporation’s policy does not protect you fully.

What is condo insurance?

It is important that your condo insurance covers personal risks over and above what your condo corporation’s policy covers. Butler Byers is one of the most competitive condo insurance brokers in Saskatchewan. Our local experts will find the best plan for you and your condo!

Why do you need it?

Condo insurance can protect your possessions, cover personal liability and any unit upgrades. It can even help you when there are shortfalls in your condo corporation coverage.

What is covered with condo insurance?

Personal property

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Coverage for the contents and personal items in your condo (furniture, clothing and sporting goods).

Liability of others

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Covers you against lawsuits for bodily injury or property damage that you or family members — and in some cases, pets — may cause to other people.

Loss of use

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A safety net for additional expenses over and above your normal living expenses while you are unable to live in your home.

Loss assessments

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This provides protection when you are the owner of shared property (condominium) and are held responsible for a portion of a deductible or damage to the building or shared property, or if an injury occurs in the common area(s).

Improvements and betterments

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Coverage for any upgrades to your unit (e.g., adding custom flooring or custom countertops), whether the improvements were made by you or the unit’s previous owners.

Contingent coverage

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Provides protection in the event that your condo corporation’s insurance ever falls short or fails to provide adequate coverage.

Other coverage options may also be included and are not limited to what has been indicated.

Frequently Asked Questions

What is the difference between condo insurance and homeowners insurance?

Though they are similar, the main difference is that homeowners insurance covers the actual structure, as well as the contents inside, whereas most condo policies only cover the contents of your unit. In most cases, the condominium corporation will have a policy covering the actual structure.

Is condo insurance required?

Like with homeowners insurance, to have a mortgage on your condo, your lender will mandate that you have insurance in place. It is also essential to have condo insurance to protect your assets.

Each condo in the building has a storage unit that is separate from its condo unit. Does my policy cover my storage unit and its contents?

While most policies do extend coverage to a storage unit on premise, it is always best to check with your broker to ensure you are fully protected.

What is not covered by condo insurance?

Depending on your policy, the common areas in your condo complex may not be included, as well as flood and earthquake coverage, and general wear and tear on your unit.

Let’s get started

Complete the online quote form and we’ll follow up within one business day.

What you’ll need:

  • Previous insurance information
  • Contents Inventory
  • Void cheque/banking letter (if interested in a monthly payment plan)

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