Condo/Apartment Insurance Ottawa

Top-to-bottom condo coverage in Ottawa

Condo insurance may appear to be a waste of money, but it may be the best investment you’ve ever made in your life. Condo owners pay a monthly fee for their Condo Association’s master insurance coverage. Although this may seem sufficient to some, property owners who rely solely on the master policy will almost certainly be underinsured. Even if owning a condo is not the same as owning a house, you still need to take precautions to protect your investment.

When it comes to condo insurance, you may be spoiled for choice. But which is the right one for you? PAIB Insurance can give you the best protection while taking care of your best interests.

Call us at 1-844-310-9731. We’ve got options!

Condo Association Insurance Policy Coverage

Master policies protect the building’s structure and common facilities like elevators and lobbies. Condo insurance master policies are classified into three types:

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All-in coverage

This is the most extensive sort of coverage, covering your condo’s complete interior structure. A comprehensive master policy implies that you probably do not need any home coverage on your condo insurance.

Bare wall coverage

This includes coverage for the building’s structure and common areas. You should review the policy details to learn what is and is not included by the “bare walls” provision, but in general, it protects the building’s framework, such as the drywall, insulation, and plumbing of your unit.

Coverage for a single entity

Single-entity master insurance has the same coverage as bare-wall policies, but it covers more of your unit’s physical construction, like the walls, floors, and bathroom fixtures.

PAIB Insurance is your place where you can quickly and easily get insurance. Get in touch with us to learn more.

Condo Insurance Coverage

Certain losses may be exempt from coverage by insurance companies. Even the most inclusive coverage excludes certain sorts of damage.

An all-peril deductible is included in all policies. The deductible is part of a covered property loss that you have to pay for.

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Major Common Coverages:


Your condo coverage covers permanently installed property not covered by your condo association’s policy.


Pays if a covered loss results in the destruction, damage, or theft of any things in your condo unit (including furniture, clothing, and electronics like laptops and TVs). Your condo association’s master insurance policy may cover the structure and shared facilities but not your personal belongings.

Having the right insurance in place can help with your peace of mind. So you should start taking an inventory and catalogue of all the contents in your place (with receipts and with photos or video). This will assist you in assessing how much coverage you need.

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Once you are ready to list your possessions and their worth, talk with a PAIB insurance agent about your options for coverage and limits.

You can choose from different types of personal property coverage, such as actual cash value and replacement cost coverage. Replacement cost coverage doesn’t take into account how much something has lost value over time. This coverage reimburses the difference between the cash value and repair or replacement costs.

The term “actual cash value” refers to an insurance settlement’s payment of the item’s “depreciated” worth.

Personal Property Coverage - PAIB Insurance Inc.


Third-party liability risks are covered by individual condo insurance. The condo association’s insurance master policy will cover any claims of injury in common areas, for example, if a guest trips on a ball and falls at the tennis court.

Personal liability coverage with condo apartment insurance is about your financial protection. If you are legally responsible for another person’s injury or property damage, this will cover their medical bills and lost wages.

If your child accidentally breaks your neighbour’s window, your insurance policy will cover the cost of a replacement. Don’t you currently have personal liability coverage yet? Contact PAIB Insurance to get a condo insurance quote today.

Personal Liability Coverage - PAIB Insurance Inc.


If you are forced to relocate temporarily due to damage to your condo unit caused by a covered loss making it uninhabitable, your additional living expenses (costs over the standard level for food, housing, and other basic expenses) will be covered.

To put it another way, this means that you would be paid for expenses that you wouldn’t have to worry about if you lived on your own property. For example, additional food expenses, expenses for boarding a pet, or taking public transportation are some of the common additional living expenses that are usually covered under loss-of-use insurance. But it does not cover the mortgage or child care expense, i.e., pre-loss expense (which you were already responsible for before the loss).

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The master policy won’t cover any improvements that you’ve made to your unit. You have felt for quite some time that the old linoleum on your kitchen floors is stained and peeling, and now installed hardwood floors. The next day you got a flood to deal with. Here the condominium corporation master policy won’t cover the difference.

Be sure to let your insurance company know about any upgrades you make to the cupboards, floors, or countertops in your condo if you perform any renovations, whether they be cosmetic or structural.


If contingency coverage is not included in your comprehensive condo insurance policy, you might want to add it. With contingency coverage, your unit is insured on its own. This protects you in case your condo or strata corporation’s insurance isn’t enough to cover a big claim.

Want to learn more? Talk to our insurance experts at 1-844-310-9731.

Condo Insurance covers losses caused by

Aircraft and vehicles
Caused by Fire and lightning
Riot and civil commotion
Sudden and accidental damage by smoke
Sudden and accidental water damage

Sudden And Accidental Water Damage - PAIB Insurance Inc.

Vandalism and malicious mischief
Weight of ice, snow, or sleet
Windstorm or hail

Condo Insurance does not cover losses caused by

  • Certain losses if your condominium is unoccupied for the number of days specified in your insurance.
  • Earthquakes, earth movement, landslides, mudslides & sinkholes
  • Flooding, including tidal surge

house insurance

  • Frozen pipes unless the building was heated or water was shut off)
  • Damage is done on purpose by you or a family member.
  • The legal responsibility that arises from the ownership or use of a motor vehicle, including a car and other types of powered land vehicles, aircraft, or some types of watercraft.
  • Without an insured loss, mould growth is not a covered peril (for instance, mould damage due to flooding would not be covered)

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  • Rats, termites, insects, birds, mice, or other vermin
  • War and nuclear hazard
  • Water damage which is a result of repeated and continuous seepage
  • Wear and tear, rotting, maintenance, and pollution
  • Trees and shrubs damaged by wind or hail

To be sure you are getting the greatest coverage for your needs before buying condo insurance, get in touch with our insurance broker at PAIB Insurance at 1-844-310-9731.

Condo Insurance Vs. Tenants Insurance

tenant insurance policies

Despite their differences, tenant, and condo insurance share two similarities. Both condo and tenant insurance offer protection for your personal belongings. This includes clothes, toys, furniture, and electronics in both cases.

While condo owners should insure everything not already covered by their condo corporation’s insurance policy, tenants should get policies based on the worth of the objects in their rental unit.

On their insurance policies, renters and condo owners both have the same personal liability.

The liability for harm done to a tenant in a rental property is the responsibility of the property owner. However, renters are required to obtain liability insurance to cover any instances in which they are deemed accountable, whether it be for injuries sustained or damage to property.

insurance company pays for home insurance

To protect themselves financially in the event that a guest is injured on their property, condo owners must also carry liability insurance. Whether you rent an apartment or own a condo, having this kind of insurance can help with the financial burden of legal fees.

The building or other structure in which their apartment is located is not covered by tenant insurance, which is one difference between condo and tenant insurance. Also, there is a major difference between the two types of plans in terms of dwelling coverage. Condo owners have to pay for their own things as well as improvements and upgrades. This refers to everything that is not covered by the master insurance but is necessary for the condo to function, like heating and air conditioning.

Best Condo Insurance Policy Ottawa

condo insurance claim replacement cost

Do you own a condo or rent an apartment but have no idea what kind of insurance you need? Do you need help selecting how much personal property coverage to buy and whether to add riders or endorsements?

If you just bought or rented a condo in Ottawa or if you’ve been living in a condo for a while, please give us a call.

At PAIB Insurance, we are able to conduct an in-depth risk assessment of your situation as a renter or condo owner in close collaboration with you.

We can help you select the right insurance plan for your needs, make sure that your property and belongings are covered, and even get discounts. Get in touch with us right now to find out more information about protecting your things with renters insurance or condominium insurance. Call    1-844-310-9731 and get free insurance quotes.

Contact us today to find out more about how renters insurance and condo insurance can help you protect your belongings.


As a renter, do I require condo insurance?

While it is not required, having some type of renter’s insurance is a good idea. Your landlord will pay to defend the unit, and the condo corporation will pay to secure the building, but if you want to protect your possessions and avoid liability worries, buy your own tenant insurance.

How much does condo insurance cost?

Condo insurance is usually less expensive than homeowners insurance. Pricing and insurance premiums will vary depending on the insurance provider you select, the location you reside in, the coverage you desire, and your personal insurance history.

Condo owners have a lot at stake while not owning the building they live in. Because of this, condo insurance is just as important as insurance for a house.

Do I not have insurance through my condo corporation?

Definitely not. This is the most common myth about condo insurance. Many people who live in condos think the monthly maintenance fee covers their own insurance.

On the other hand, the condo association’s insurance policy only covers damage to the building and common areas, like the pool, gym, elevators, lobby, hallways, etc. The individual condo unit owners are not provided with any coverage by this building insurance policy in any way. You will need a condo insurance policy to protect your belongings and yourself.

Is condo insurance in Ottawa mandatory?

In Ottawa, condo insurance is optional. Mortgage lenders, however, will insist that you get condo insurance. Your financing terms will specify any minimum coverage requirements that may apply.

In addition, before they can release your funds, the lender will want your broker to send them evidence that you have insurance.

But technically, you don’t need condo insurance if you don’t have a mortgage. If you’d prefer not to gamble away your life’s savings and prospective income, buying insurance to cover any losses is a great decision.

Call PAIB Insurance at 1-844-310-9731 for more info!


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