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The Intricacies of Insurance for Condominium Owners

Posted on September 23, 2011 by Tom Bushey

Posted in: Buying a Home In Calgary , Condos for sale , Property Virgins

Knowing Condo Insurance - real estate in Calgary

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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Tom Bushey, Associate Broker & Realtor®

Accredited Seller and Buyer Representative & Condo Specialist

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THOMAS BUSHEY | RE/MAX iREALTY INNOVATIONS

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