FAQ Category: Condo Insurance

Yes, if you rent out your condo, you may need a landlord or rental unit policy to protect against tenant-related risks. This can cover damages, loss of rental income, and liability. 

Loss assessment coverage helps protect you if the condo corporation charges unit owners for shared expenses due to an insured loss, such as damage to common areas. It’s a valuable safeguard to avoid unexpected costs. 

No, your condo corporation’s policy typically only covers the building structure and common areas. It does not protect your personal belongings, upgrades, or liability within your unit. Condo insurance ensures you have coverage for these and more.