Condo Insurance

Condo owners have unique insurance needs. Youngs Insurance Brokers Inc. can work with you to determine if this coverage is right for you.

What Is Condo Insurance?

Condominium insurance, or condo insurance, can protect your personal belongings, improvements to your unit, and any damage you may accidentally cause to other units. Your Condominium Corporation will have insurance for the building itself and its common areas, but it doesn’t cover what’s inside your unit or any condo improvement you may make.

How You're Protected

All-Risk Coverage

Helps to protect the belongings in your unit and improvements made to your unit. This coverage protects you against losses from all risks, unless specifically excluded from your policy.

Personal Liability Coverage

Helps to protect you financially if someone is unintentionally injured or has their property damaged at your residence and sues you for damages and repairs.

Additional Living Expenses Coverage

Help cover expenses like moving costs, or temporary living expenses if you can’t live in your condo while repairs are being made after a claim has been made.

Replacement Cost

In the event of a claim, helps repair items to their original condition or replace them with new items of like quality with no deduction or depreciation.

What the Condo Corporation Will Cover

The condo corporation will have its own insurance policy to cover:

• Common areas, including the lobby, gym, pool, party-room, elevators, and hallways
• Items in the common areas
• Maintenance equipment
• Liability for property and bodily damage claims
• Some electrical and plumbing may be covered

If you're looking for the right condo insurance, our brokers can help you find suitable coverage options at a great price.

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Condo Insurance FAQs