Since the adoption of Bill 141, Quebec co-owners are legally required to have a minimum liability insurance policy. Furthermore, your declaration of co-ownership may require additional specific coverage particular to your building.

The syndicate’s insurance covers the building envelope: roof, foundation, exterior walls, and common areas. It does not cover the interior of your unit (flooring, cabinets, appliances, personal property), nor your personal liability. You need your own policy for these items.

The improvements and renovations you have made (renovated kitchen, hardwood floors, modernized bathroom) must be declared to your insurer to be adequately covered under the « rental improvements » section. Basic coverage only protects the original finishes provided by the syndicate.

If a claim originating from your unit (e.g., water damage, fire) causes damage to common areas or other units, the syndicate can claim the amount of its own deductible from you, which can reach $25,000 to $100,000 depending on the building. Your personal condo insurance generally includes coverage for this deductible.

On average, between $350 and $900 per year depending on the value of your personal property, the value of your rental improvements, the amount of the syndicate deductible to cover, and your geographic location. It is generally less expensive than home insurance because you do not insure the building.

If you are an owner-occupant, your condo insurance covers your liability for accidental damage caused to others. If you rent your condo to a tenant, the tenant’s insurance applies for their liability. It is recommended that you require your tenant to have their own rental insurance.

Storage spaces and parking spaces that are part of your private unit are generally covered by your condo insurance. Check your declaration of co-ownership to confirm whether these spaces are exclusive or common areas with restricted use, as this may affect coverage.

Make a list of all improvements made since purchase: cost of materials and labor for flooring, kitchen, bathroom, etc. Keep your invoices. Your broker can help you establish the appropriate insurance amount to cover the replacement cost of these improvements.

Yes. Combining your condo insurance with your auto insurance from the same insurer generally allows you to get a discount of 5% to 15%. It’s one of the simplest ways to reduce your annual premiums.

Condo insurance is for owners of a co-ownership unit. Tenant insurance is for people who rent their home. Both protect your personal property and liability, but condo insurance also includes coverage for rental improvements and the syndicate deductible.

Most condo insurance policies have a vacancy clause: if your unit is unoccupied for more than 30 to 60 consecutive days (depending on the contract), some protections may be reduced or cancelled. Notify your insurer if you plan an extended absence to maintain full coverage.