As president of KBD, Curtis aims to simplify insurance for his clients. He’s helped lead KBD to become one of Canada’s fastest 400 growing companies according to the Globe & Mail.
Published on:
Buying a condo in Quebec? Don’t assume your building’s policy has you covered.
Condo insurance in Quebec is shared between you and the syndicate (your condo board), but that shared setup leaves plenty of gray areas.
From high deductibles to limited coverage for your own unit, here’s what every condo owner in Quebec needs to know before signing their next policy.
How Condo Insurance Works in Quebec
In Quebec, condo insurance is divided between two main policies:
- Syndicate policy: Covers the building’s structure and shared areas.
- Individual unit policy: Covers your personal belongings, unit improvements, and liability.
Here’s the problem — if damage starts in your unit (like a water leak) and the syndicate has a $25,000 deductible, you might be responsible for paying it.
Many condo owners learn this the hard way, especially when their own policies don’t include loss assessment coverage.
Common Gaps Most Owners Miss
Even well-intentioned condo owners make coverage mistakes. Here are a few of the most common:
- Missing loss assessment coverage: Leaves you paying for building-wide deductibles or shortfalls.
- No coverage for improvements: Renovated your kitchen or flooring? Standard limits might not apply.
- Low liability protection: Shared buildings mean shared risks—if your unit causes damage to another, you could be liable.
- Ignoring bylaws: Each condo syndicate has its own insurance requirements. If you don’t match them, your claim might be rejected.
At KBD Insurance, we review your building’s bylaws line by line to make sure your personal condo insurance fills every gap.
FAQs
Q: What does my condo syndicate’s insurance cover?
A: The syndicate covers the building and common areas, not your personal belongings, improvements, or personal liability.
Q: What is loss assessment coverage?
A: It protects you when the condo board’s master policy isn’t enough—like paying your share of a deductible or shortfall after a major claim.
Q: How can a broker help?
A: A broker understands Quebec’s unique co-ownership structure, reviews your syndicate’s bylaws, and builds coverage that complements—not duplicates—your building’s policy.
Wrap Up
Want condo insurance that actually protects your unit and your wallet?
Get a free quote or policy review from KBD Insurance—trusted by condo owners across Quebec for over 40 years.