Condo Insurance for Owners in Alberta

Protect yourself and the people in your home in case you’re sued. With personal liability coverage, you’re covered if someone gets hurt while visiting or for damage you may unintentionally cause.

Often called contents insurance, this protects anything you own that you could pack in a bag or put in a moving truck. Contents insurance in Alberta covers things like your clothing, electronics, furniture, etc. These are covered while they’re on your property or temporarily removed (like when you’re travelling to work – or out of the country). Just keep in mind, if you’re renting out your condo, only major appliances (like your fridge, stove and washing machine) are covered for theft – the rest of your contents aren’t.

In case something happens, and you can’t live in your condo in Alberta – you’re covered while your condo is being repaired. Choose to stay in a hotel or with friends and family, we’ll provide you with the cash either way. Renting out your condo at the time of loss? You’ll be covered for your net rental income until your tenants can move back in.

This includes three extra protections:

• Unit Improvements Coverage
  Have you been making improvements or upgrades to your unit – like installing special lighting or customized closets? Don’t worry, they’re covered.

• Unit Contingency Coverage
  This coverage protects you if your condo corporation’s insurance isn’t enough to take care of damages to your unit, that would normally be its responsibility to repair or replace.

• Property Loss Assessment Coverage
  Your condo corporation could require its members to collectively pay for any damage to common areas (like the lobby or elevators). This coverage will pay for your share.

This covers you and anyone else on your policy in case your identity is stolen. We’ll reimburse you for legal fees as well as certain other costs that could happen, up to a limit. These could include lost wages if you have to take time off work to sort it out, and payment for services that help you get back to where you need to be.

This coverage can help in some smelly situations. Your unit and belongings would be covered for damage caused by sewage that backs up in your unit through a sump, septic tank or floor drain. Any belongings in your condo’s basement storage unit would also be covered. Or, if you can’t get into your condo because the lobby or lower levels are affected, you’d need Sewer Backup so that additional living expenses (like living in a hotel during repairs) are covered. Coverage offered depends on eligibility.

You’re covered for damage caused by fresh water, such as excessive rain, spring run-off and melting snow, coming in at ground level through windows and doors. If you can’t get to your unit due to an overland water flood in your condo’s lobby or lower levels, you’d need this coverage to get help with extra living expenses (like living in a hotel). It also includes belongings kept in your condo’s basement storage unit that are damaged. Coverage offered depends on eligibility.

If you’re a condo owner in Alberta, hail coverage is included in your policy. This means your belongings (like patio furniture or a barbecue) will be repaired or replaced if damaged by hail.