Property and Asset InsuranceComprehensive Solutions for Condominium Corporations

Your property

The Condominium Corporation Package Policy includes:

• Inflation protection.
• Contents belonging to the condominium.
• Newly acquired property for a period of 60 days after it is acquired.
• Property off the insured premises.
• Personal property belonging to condo officers and employees.
• Sewer backup.
• Fire department charges.
• Professional fees.
• Trees, shrubs and plants.
• Glass and signs.
• Building by-laws.
• Valuable papers and records.
• Trustee’s fees.
• Extra expenses.

Boiler & Machinery

The policy includes:

• Pressure, mechanical and electrical equipment.
• Electronic equipment used solely to operate one or more insured equipment.
• Equipment at newly acquired premises.
• Ammonia contamination.
• Water damage caused by air conditioning and refrigeration systems, including heating systems.
• Computers used solely to operate one or more insured equipment.
• Charges resulting from by-laws.
• Professional fees.

Your legal liability

This coverage covers legal liability arising from the premises, the property and the activities of the condominium. This all-risk protection includes:

• Products and/or completed work.
• Gradual property damage.
• Personal injury.
• Tenants' liability.
• Medical expenses.

Your condo fees

Condo fees are costs incurred by condo owners to maintain, operate, and administer their buildings, and the costs of efficiently managing condominiums in accordance with the provisions of condominium declaration.

• These expenses are limited to a monthly amount per unit paid every six to twelve months, depending on the option selected.
• They apply to the Property and Boiler & Machinery sections.

Your extra expenses

The Condominium Corporation Package Policy covers additional expenses of up to $25,000. They apply to the Property and Boiler & Machinery sections.

The restoration period begins on the day of the loss and is not affected by the expiry of the policy.