Condominium Insurance in BC
Your strata corporation's building insurance and your personal condominium insurance protect different risks. Explore coverage for your personal belongings, unit improvements, personal liability, additional living expenses and other eligible insurance needs.
What Condo Insurance Can Cover
What Does Condo Insurance Cover?
Your strata corporation generally carries insurance for strata property and common interests, while personal condo insurance is designed around risks that apply specifically to you as the unit owner. Coverage varies by policy, but may include the following.
Personal Property
Helps protect eligible belongings such as furniture, electronics, clothing and other personal property against insured losses.
Unit Improvements
May cover eligible upgrades or improvements made to your unit, such as flooring, cabinetry or renovated fixtures.
Loss Assessment
If your strata corporation assesses unit owners for costs arising from insured damage to common property or a covered liability claim, your condo policy may help cover your eligible share, subject to policy terms and limits. Not all special assessments are covered.
Strata Deductible Assessment
May help if you become responsible for an eligible portion of your strata corporation's insurance deductible following a covered loss.
Personal Liability
May provide protection if you are legally responsible for eligible accidental bodily injury or property damage to someone else.
Additional Living Expenses
If an insured loss makes your condo uninhabitable, your policy may help cover additional costs for temporary accommodation, meals and other necessary living expenses while repairs are completed, subject to policy terms and limits.
Coverage, limits, deductibles and exclusions vary by policy. A Cascade representative can help you review available options for your condo and circumstances.
Understanding Your Coverage
Condo Insurance vs. Strata Building Insurance
One of the most important things for a BC condo owner to understand is that strata insurance and personal condo insurance serve different purposes.
Strata Corporation's Building Insurance
A strata corporation generally maintains insurance for strata property, common property, common assets and other interests covered under its policy and applicable requirements.
Your Personal Condo Insurance
A personal condo policy is designed around risks that apply specifically to you as an individual unit owner. It may provide coverage for eligible:
- Personal belongings
- Unit improvements
- Personal liability
- Additional living expenses
- Loss assessments
- Strata deductible assessments
Having strata insurance does not necessarily provide an individual condo owner with all of the personal protection they may need.
An Important Condo Consideration
Understanding Strata Deductible Coverage
Strata insurance policies have deductibles, and depending on the circumstances, a condo owner may become responsible for an eligible deductible assessment following a loss.
This makes it important to understand both your strata corporation's insurance information and the protection available through your own condo policy.
Your strata documents and insurance information can be useful when discussing the coverage you may need.
When reviewing this area of your insurance, consider:
- Your strata corporation's current insurance deductibles
- Deductible-assessment coverage available under your policy
- Applicable coverage limits
- Your personal policy deductible
- Policy conditions and exclusions
Choosing Your Coverage
What to Consider When Buying Condo Insurance in BC
The insurance you consider should reflect more than simply the fact that you own a condo.
Your Belongings
Consider the value of furniture, electronics, clothing and other eligible personal property you would need to replace.
Renovations & Improvements
Upgraded flooring, cabinetry, fixtures and other improvements may affect the coverage you should consider.
Your Strata's Insurance
Review available strata insurance information, including deductibles that could be relevant to individual owners.
Personal Liability
Consider the financial impact of situations where you could become legally responsible for eligible bodily injury or property damage.
Additional Living Expenses
Consider how you would manage temporary living costs if an insured loss prevented you from occupying your condo.
A Cascade representative can help you review these considerations and explore available condo insurance options based on your circumstances.
Own or Rent?
Condo Owner Insurance Is Different From Tenant Insurance
If you own the condo unit, condo insurance is designed around the risks associated with being an individual unit owner.
If you rent the unit from someone else, renter or tenant insurance is generally the more appropriate type of personal insurance.
The distinction matters because owners and tenants have different property interests and insurance needs.
Why Choose Cascade Insurance?
For 40 years, Cascade Insurance has helped individuals and families across BC find dependable insurance solutions with personalized service.
40+ Years Serving BC
More than 40 years of experience helping customers with their insurance needs.
BC Insurance Guidance
Get help understanding insurance considerations that can apply to condo ownership in British Columbia.
Help Understanding Strata Considerations
Ask questions about topics such as strata insurance, deductible assessments and your personal condo coverage.
Local & Virtual Service
Connect with Cascade through our Surrey and Langley offices or Burnaby virtual office.
Condo Insurance FAQs
Protect Your Condo
Get a Condo Insurance Quote
Your condo insurance should reflect your belongings, improvements, personal liability and other risks associated with owning a unit, including strata insurance deductibles that may be assessed against you.
Connect with Cascade Insurance Agencies to discuss available condo insurance options.
Serving Surrey, Langley & Burnaby
Surrey Office
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Langley Office
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Burnaby — Virtual Office
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Burnaby is a virtual service location and does not have a physical walk-in office.
Important Insurance Information
Coverage is subject to eligibility, underwriting requirements, policy terms, conditions, limitations, deductibles, and exclusions. Coverage and availability vary by insurer and individual risk. Information on this page is general in nature and does not modify or replace the terms of any insurance policy. A quote request or website submission does not bind insurance coverage. Review the applicable policy wording and speak with a Cascade Insurance Agencies representative regarding your specific insurance needs.