Condo Insurance in the Maritimes
Owning a condo comes with unique responsibilities, and protecting your investment requires more than just relying on your condo association’s insurance. While your building’s policy typically covers common areas, it won’t protect the inside of your unit, your personal belongings, or your liability as an owner. That’s where condo insurance comes in.
Condo insurance provides financial protection if damage occurs to your unit, your belongings, or if someone is injured in your home. It helps ensure you don’t face unexpected costs after an accident or loss. Typical policies cover your personal property, unit improvements, liability, medical payments, and additional living expenses.
Key Types of Condo Coverage
Property Protection: As a condo owner, you’re responsible for the interior of your unit—cabinets, appliances, light fixtures, and personal belongings. Coverage limits often apply to money, business property, computers, watercraft, jewelry, and firearms. Most condo policies start at $25,000 for property protection.
Liability Coverage: If you or another insured person are found legally responsible for injury or property damage, this coverage protects you. Liability insurance also applies to accidents that happen away from your condo.
Guest Medical Coverage: Pays for reasonable medical expenses if someone is injured in your condo, even if you’re not at fault.
Additional Living Expenses: If fire, smoke, or another covered loss makes your condo uninhabitable, this coverage pays for hotel stays, meals, and other living costs while repairs are made.
Loss Assessment Coverage: If your condo association issues a special levy after a covered loss to the building, this coverage helps pay your portion, up to the policy limit.
AA Munro Insurance specializes in helping Nova Scotia condo owners choose the right protection at the right price, ensuring coverage for your home, your possessions, and unexpected liability claims.
