What Risks Does Your Condo Insurance Cover?

Condo insurance is an important part of owning a condo in Toronto. It covers contents, upgrades, liability, locker contents, living expenses, and living expenses in the event of a catastrophe such as fire, floor, or any other disaster. It also covers the common use areas and the building itself, but is not responsible for the individual unit. Condo insurance covers contents, upgrades, liability, locker contents, living expenses, and living expenses in the event of a catastrophe. Condo insurance policies provide protection against condo assessments, fair rental value, and renters' contents.

These policies cover condo assessments, fair rental value, and renters' contents, as well as the contents of a fully furnished condo. Most landlords ask tenants to have this policy, as it covers these bases. Condo insurance covers contents up to a set value, but it may not cover exorbitantly expensive items such as jewelry and arts. It also covers liability and living expenses if the unit is rendered uninhabitable. High-value items should be appraised separately and have separate coverage for them.