What Does Condo Insurance Cover?

Oct 26, 2022Blog, Additional Insurance0 comments

Find out what condo insurance covers, what to expect, and whether you should purchase coverage for your next apartment.


While condo insurance is typically designed for homeowners living in a condominium unit, it can also provide coverage for common areas and amenities such as pools, hot tubs, and gyms. In some cases, the policy may even include liability protection for the unit owner. 

Depending on the specific policy, condo insurance may also cover theft or damage to the structure itself. Typically, policies will also include provisions for repairs and replacements, which can help to minimize any inconvenience or financial hardship caused by an incident.

What Does Condo Insurance Cover

What Condo Insurance Covers?

Condo insurance generally covers the following: 

  • Property damage caused by natural disasters, such as floods or hurricanes
  • Loss of rental income or utilities
  • The cost of repairs or replacement after a break-in or vandalism
  • Personal injury or death to residents, guests, or workers on the property

Depending on the policy, condo insurance may also cover loss of use of the property while it is under repair and legal fees related to any claims.

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How to get more coverage for your condo?

A few things you can do to get more coverage for your condo include:

  1. Contact your insurance agent or broker to inquire about adding a policy for your condo. This will give you added protection in a disaster such as a fire.
  2. Register with the Canadian Property Standards Agency (CPSA). CPSA is a national agency that provides owners and operators of rental units with information and services related to property standards and compliance. This will help ensure that your condo complies with all applicable municipal, provincial, and federal laws and regulations.
  3. Make sure your condo is up to date with all required building permits and inspections. This will help ensure that the building’s insurance plan covers any repairs or upgrades you make.
What Does Condo Insurance Cover

What Does Condo Insurance Cover

What is covered under condo insurance?

Condo insurance typically covers common areas, such as the building exterior, stairs, and hallways; everyday use areas, such as the kitchen and laundry room; and your possessions in your unit.

It may also cover losses due to fire, theft, or a natural disaster such as a storm. Some insurers also offer additional coverage for specific events, such as break-ins.

While policies vary, most condo insurance policies generally require you to have renters insurance if you are using someone else’s property as your home (for example, renting out your furnished condo).

In addition, some insurers may require that homeowners or tenant insurance be in place before coverage is offered.

What is not covered by condo insurance?

Some condo owners may not have coverage for theft, fire, or water damage.

Tips for protecting your belongings in a condominium

If you’re a renter, it’s essential to understand the specific coverage your condo insurance policy will provide.

Most policies will generally cover damages to your personal belongings that result from fire, burglary, or theft. However, not all policies cover damage caused by natural disasters like flooding.

To protect your belongings in a condominium, follow these tips: 

  1. Lock up your valuables when you’re not using them.
  2. Hide any incriminating evidence if there is a break-in — fingerprints and other physical evidence can help police identify the thief.
  3. Report any suspicious activity to your condominium management company right away.
What Does Condo Insurance Cover

What Does Condo Insurance Cover

What are the benefits of condo insurance?

A condo is a type of housing made up of multiple units owned and managed by the same organization.

Condo insurance protects the owner and their guests from various risks of living in a condo. 

Some of the benefits of condo insurance include protection from: 

  • Damage to the property, including loss of furniture or appliances 
  • Wrongful eviction or forcible entry into the unit 
  • Theft or damage to valuables in the unit, such as jewelry or electronics 
  • Fires in the building, regardless of whether they are caused by negligence on the part of the owner or another tenant 
  • Natural disasters, like hurricanes or floods.

What to Do If You Own a Condo and experience a Loss?

If you own a condo and experience a loss, you should first contact your condominium board.

They may be able to provide you with information about how to file a claim or help you find an insurance company that specializes in condo losses.

Can I get condo insurance that covers my personal belongings?

You can get condo insurance that covers your personal belongings, but it will likely be more expensive than standard apartment insurance.

Can my condo insurance policy cover damage from water infiltration?

Your condo insurance policy may cover water infiltration, depending on the terms of your policy. If your policy excludes water damage, you may need to purchase a separate policy specifically for water intrusion.

Can I get condo insurance without a mortgage?

Condominium insurance policies typically require a mortgage.

What Does Condo Insurance Cover

What Does Condo Insurance Cover


Condo insurance is a vital part of your homeowner’s insurance policy. While it doesn’t cover every eventuality, condo owners should know the types of coverage typically offered, such as fire and theft.

In addition, many insurers also have particular policies or discounts for condo residents. If you’re unsure whether or not your condo has these kinds of protections in place, reach out to your insurer or consult with a qualified real estate agent.


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