A blog cannot deal with all aspects of a subject and is not intended to replace professional advice. It's purpose is to highlight information and identify areas of possible interest. Anyone wishing to discuss this blog or to make any comments or suggestions about this blog is invited to do so by either posting comments or emailing me directly.
September 23, 2011
The Intricacies of Insurance for Condominium Owners
Insurance for condominium units is very different compared to the insurance that homeowners and tenants buy. Because condominium corporations must buy their own insurance, the insurance that unit owners buy has to be designed to complement that insurance coverage.
Like a tenant’s insurance policy, condominium unit owner policies cover personal property – furniture and personal effects. Like tenants and like homeowners, special attention is required to ensure that there is adequate coverage for high-risk property like jewellery, certain collectibles (like stamp and coin collections), and so on. If a pipe burst in a unit and seriously damaged the furniture, this section would provide coverage.
If you are considering buying or selling a condominium property, I'd be happy to talk to you.
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