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.
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Buying or owning a condo in Montreal? You might think your building’s policy covers everything—but it doesn’t.
As a unit owner, you’re responsible for your space, your contents, and your upgrades.
This guide breaks down the five most important things to know before buying condo insurance in Montreal—so you’re protected from costly surprises later.
1. Your Building’s Policy Doesn’t Protect Your Unit
Your condo association’s master policy covers common areas—like the lobby, elevators, or roof—but not your personal unit.
That means damage to your floors, cabinets, or walls falls on you. Make sure your individual condo insurance covers your space, contents, and any upgrades you’ve made.
2. Water Damage Is the #1 Condo Claim in Montreal
Most condo claims in the city come from water damage—whether it’s sewer backup, pipe bursts, or flooding from another unit.
Basic policies often skip this coverage, so always ask your broker to include sewer backup and overland water protection.
3. Renovations and Upgrades Need Extra Coverage
If you’ve upgraded your kitchen, bathroom, or flooring, those improvements aren’t automatically insured.
Many policies cap limits for unit improvements at outdated amounts.
Your broker should update your policy to reflect any renovations to avoid underinsurance during a claim.
4. Loss Assessment Coverage Protects You From Shared Costs
If the condo board’s master policy doesn’t fully cover a major loss—like fire or roof damage—unit owners can be charged a special assessment.
Loss assessment coverage helps pay your portion of that bill, which can easily reach thousands.
5. Know Your Building’s Deductible
Some condo associations push high deductibles (sometimes $10,000+) onto unit owners.
If your neighbor causes a flood, you could still be responsible for the building deductible.
Review this with your broker so you’re not blindsided later.
FAQs
Q: Is condo insurance mandatory in Montreal?
A: Yes—Quebec’s civil code requires condo owners to carry personal liability insurance and contribute to the building’s insurance fund.
Q: What’s the average cost of condo insurance in Montreal?
A: Most owners pay between $25–$50 per month, depending on the building, location, and coverage.
Q: Does my condo association’s policy cover renovations?
A: No. You’re responsible for insuring any upgrades or improvements inside your unit.
Wrap Up
Don’t assume your building’s insurance has you covered. Protect your condo the right way with a customized policy from KBD Insurance—Montreal’s trusted local broker for over 40 years.