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Condo Insurance

Condo owners have special insurance needs compared to traditional detached homes. At Mountainview Insurance, we want to help you make an informed decision about choosing the right condo insurance policy by helping you familiarize yourself with what condo insurance does and does not cover.


What is condo insurance?

Condo insurance works to protect personal belongings and any improvements that have been made to the unit, in addition to protecting you, in case you damage any of the other units in the building or someone gets hurt while visiting your condo. While condo insurance is not mandatory, it is definitely something that should be considered by condo owners.

The importance of condo insurance

Having condo insurance can protect you in the event that you are responsible for any major repairs that need to be made to the building or other units. Condos declarations will usually have rules in them, stipulating that if a loss began in your apartment and spreads to other units, you could be responsible for the entire shared insurance policy deductible and possibly even some of the cost to repair the damage. Having your own condo insurance policy can help provide protection against this type of expense.

The Different Types of Condo Insurance

There are a variety of different types of condo insurance, including:


All-risk covers the content in the condo along with any improvements and betterments made to the unit from losses due to a wide range or perils; however, it is important to note that not all perils are covered. If you are unsure about what perils are or are not covered, check with your insurance provider.

Personal liability

Personal liability insurance is designed to protect you in the event that you unintentionally injure someone or damage their property and have to pay damages, such as medical fees.

Content Insurance

Content insurance covers belongings for losses, resulting from the most common types of perils, up to a specified amount. This policy even covers lost belongings during periods of travel.

Replacement Cost Coverage

Replacement cost coverage insures the contents in your condo for the amount it costs to replace them without depreciation.

Additional Living Expenses Coverage

Additional living expenses coverage will pay for reasonable and necessary expenses, such as hotel and food costs, in the event that you are forced to leave your condo for a period of time, following an insured peril.

Improvements and Betterments Protection

Improvements and betterments protection covers any upgrades put into the condo, on top of what the building originally provided, up to the limit of the replacement value. The improvements and betterment protection policy will ensure you receive full compensation for the loss of upgrades.

Loss Assessment

Loss assessment is when you share responsibility with others for common property. Having loss insurances means that your insurance provider will pay (up to a stipulated amount) for your portion of any loss to the common property caused by an insured peril.

Condo Insurance from Mountainview Insurance

If you are looking to purchase condo insurance in Abbotsford, Mountainview Insurance offers a wide range of condo insurance policies. No matter what type of condo insurance you are looking for, please stop by our Abbotsford office, or contact us at 604-557-0255 or by filling out a contact form on our website. Our professional team of condo insurance experts can help you find the perfect policy for your specific needs.

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