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Condo insurance coverage options

Desjardins Insurance knows that your home is one of the biggest investments you’ll ever make. Protect it with condo unit insurance. This page will tell you more about what coverage options are available. If you have questions, contact your Desjardins Agent who can help you find the coverage that’s right for you.

Building property

Coverage A

Our condominium unit owners policy covers unit improvements and betterments made by you or acquired at your expense including any building or structure.

Please note that improvements to your unit as well as fixtures and equipment installed as part of the building may or may not be your insurance responsibility. Check your condominium corporation documents.

Additional coverage

Speak to your Desjardins Agent to learn more about additional water damage coverage for things like sewer back-up, water seepage and overland floods.

Personal property (contents)

Coverage C

This condo insurance coverage protects personal property (contents) in your home like clothes or furniture. It also provides protection for your personal property with you while away from home.

Additional living expense and fair rental value

Coverage D

Should a fire, explosion or other insured loss severely damage your unit, you could need a substitute place to stay. Additional living expense coverage will cover the necessary increase in cost to maintain your standard of living. If a part of your unit is rented to others, your fair rental value will also be covered.

Loss assessment

This valuable condo insurance coverage is uniquely designed for condo unit owners.

It recognizes the potential for unit owners to be assessed for certain kinds of loss. Here are examples of circumstances that might require the condominium association to assess all unit owners:

  • Someone is seriously injured on common property (perhaps at a swimming pool) and the courts award a judgment that's higher than the amount of liability coverage provided by the condominium corporation insurance policy.
  • Major damage occurs to collectively-owned condominium property and it is not fully covered by the insurance policy of the condominium corporation.

In either case (or similar cases), loss assessment coverage would pay your share (up to stated amount).

Liability coverage

Liability coverage protects you or a member of your household against bodily injury and property damage you may involuntarily cause another person.

In addition to compensatory damages costs, this coverage may pay defence costs—even if a suit brought against you is groundless, false or fraudulent. It is essential that you select an adequate liability amount of insurance to protect your assets.

If you need more protection than your regular policy limits, consider a personal umbrella liability policy. It adds an extra layer of liability coverage to your car, watercraft (if you have one) and your condominium unit owners policy.

Voluntary medical payments

Coverage F

This coverage pays medical expenses up to the amount of insurance in the insurance policy for people who are on your premises with your permission and unintentionally injured. The coverage also extends to any unintentional injuries caused by you to another person. However, the coverage does not pay for medical expenses for you or members of your family that live with you.

Rented condominium

If you own a condominium unit but rent it to others. Contact your Desjardins Agent for more information.

Inflation protection

The amount of insurance for your property coverages are automatically increased as inflation changes the cost of replacing your property.

Debris Removal

Covers reasonable expenses incurred to remove insured property damaged following a covered loss.

Trees, shrubs, plants and lawns

Covers damage caused by:

  • Fire
  • Lightning
  • Explosion
  • Riot
  • Impact by aircraft, land vehicle, satellite or spacecraft
  • Vandalism
  • Theft or attempted theft

Limit for this coverage is a percentage of the amount of insurance for Coverage A – unit and improvements and betterments with a dollar limit for any one outdoor tree, shrub or plant.

Food in a freezer or refrigerator

Pays for spoiled food contained in a freezer or refrigerator on the premises resulting from power interruption or mechanical breakdown of the unit.

Lock replacement or rekeying

Pays to re-key or to replace the exterior locks on any building on your premises if your keys are lost or stolen.

Damage to the property of others

Provides up to the amount of insurance for this coverage in the insurance policy for unintentional direct damage you or a member of your household cause to property of others even though you are not legally liable.

Details of coverage or limits vary in some provinces.

This content is only a general description of coverages and is not a statement of contract. All coverages are subject to the terms, provisions, exclusions and conditions in the policy itself and any endorsements.

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