With decades of experience serving Canadian businesses, KBD delivers condo corporation insurance coverage that protects condominium buildings, owners, and peace of mind.
We guide condo syndicates to meet provincial insurance requirements. Speak with our commercial insurance team today.
Speak with a broker.
Our licensed commercial insurance brokers are experienced in condo syndicate coverage for buildings across Quebec and Ontario. We’ll start with a conversation to understand your property, your board’s priorities, and the risks you need protection against.
Evaluate your needs.
Your dedicated broker will review your syndicate’s legal requirements and current coverage, then shop the market on your behalf. We ensure your policy includes everything required under Quebec or Ontario law, from building reconstruction, to liability coverage, and more.
Select your policy.
Once we’ve gathered the details, we’ll provide a tailored quote that reflects your building’s unique needs. Our team offers quick turnaround times and a seamless process, so that your board can get back to running the condo property with confidence.
We compare rates from Canada’s leading commercial insurance companies
Condo corporation insurance that checks all of the boxes.
KBD is a commercial insurance broker with over 40 years of experience serving property and business owners in Quebec, and now Ontario.
We offer complete insurance coverage to condo syndicates located throughout both provinces. Speak with a broker today about condominium owners association insurance.
Speak with the same commercial insurance expert, every time you call.
Your personal commercial insurance specialist, here when you need us.
At KBD, we aim to provide clients with a white-glove service from start to finish. That means personalized guidance every step of the way. A dedicated commercial insurance broker will be assigned to work with you to ensure you get the precise coverages you need.
We take the guesswork out of compliance, ensuring your coverage aligns with provincial condo cooperation regulations:
Building reconstruction insurance
This coverage ensures your building can be fully rebuilt to its original state after a major loss. It includes common areas, structural elements, and standard units, which protects the investment of all co-owners and prevents disputes about repair or rebuilding responsibilities.
Commercial General Liability
CGL insurance safeguards your syndicate and board members against claims for bodily injury or property damage that occur in common areas of the building. It covers legal costs, settlements, and judgements. With this coverage, both the syndicate’s finances and the personal liability of condo board members are protected.
Coverage for ordinary risks
This coverage protects the building against everyday risks like fire, theft, vandalism, and most water damage. It ensures the shared property, facilities, and amenities can be repaired quickly, minimizing disruption for residents and helping to maintain the building’s long-term value.
Additional requirements
Our team provides guidance on additional regulations in Quebec and Ontario. For Quebec syndicates this includes having a self-insurance (deductible) fund, a certified appraisal every five years as per Quebec law, and a clear description of each unit’s standard condition, to separate what the syndicate insures versus what individual condo owners are responsible for.
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Building reconstruction insuranceThis coverage ensures your building can be fully rebuilt to its original state after a major loss. It includes common areas, structural elements, and standard units, which protects the investment of all co-owners and prevents disputes about repair or rebuilding responsibilities.
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Commercial General LiabilityCGL insurance safeguards your syndicate and board members against claims for bodily injury or property damage that occur in common areas of the building. It covers legal costs, settlements, and judgements. With this coverage, both the syndicate’s finances and the personal liability of condo board members are protected.
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Coverage for ordinary risksThis coverage protects the building against everyday risks like fire, theft, vandalism, and most water damage. It ensures the shared property, facilities, and amenities can be repaired quickly, minimizing disruption for residents and helping to maintain the building’s long-term value.
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Additional requirementsOur team provides guidance on additional regulations in Quebec and Ontario. For Quebec syndicates this includes having a self-insurance (deductible) fund, a certified appraisal every five years as per Quebec law, and a clear description of each unit’s standard condition, to separate what the syndicate insures versus what individual condo owners are responsible for.
Reasons to love KBD Insurance
Personalized service.
Our brokers will work with you to evaluate your condominium property, operations, and legal obligations to provide tailored coverage. We ensure your syndicate receives protection designed around its unique needs, so you can confidently manage risks.
Local business expertise.
As a client of KBD Insurance, you will work with a dedicated insurance broker assigned to your file. They’ll assess your building’s operations, required coverages, and provide ongoing support to keep your condo syndicate insurance policy aligned with evolving regulations in your province.
We shop the market for you.
As a commercial insurance broker, we partner with top Canadian insurance companies. This allows us to secure competitive condo corporation policies, ensuring your building, board members, and co-owners receive comprehensive coverage at an appropriate rate.
Our clients say it best
More than 600 5-star Google reviews.Leah N.
“Great service, very easy and well explained procedures and information needed for insurance. Jordan was great to work with, and had excellent communication skills. 10/10 recommend.”
Shawn B.
“Greg is always making sure all my insurance needs are covered. Excellent service and very responsive.. thanks again!”
Nathan T.
“My first time ever getting insurance for a car and it was super simple. I spoke to Erika who was super nice and answered all my questions, and provided everything I needed!”
Brian B.
“Great experience. As a new to Quebec driver who just bought a car I got my insurance processed over the phone in less than 20 minutes. Very efficient, easy to understand and good coverage.”
Speak with our team to get a condo syndicate insurance quote today.
Condo syndicate insurance FAQs
What is condo syndicate insurance?
Condo syndicate insurance is a specialized commercial insurance policy designed to protect the entire building, including common areas and standard private portions of the building (this includes walls, windows, and permanent fixtures), against damage. It also provides liability protection for the condo board and the syndicate itself.
This coverage protects both the property and its collective owners from claims.
Ready for a quote? Let’s talk.
What’s the difference between individual and corporate condo insurance?
Individual condo insurance protects a condo unit owner’s personal belongings, unit improvements, and liability within their private space. This falls under personal condo insurance.
In contrast, condo syndicate insurance covers the entire building structure, common areas, shared facilities, and shared furniture, ensuring repairs or rebuilding can be completed if damage occurs.
Condo syndicate insurance also provides liability protection for all owners, helping to maintain financial security and stability for the condominium association.
Looking for an insurance quote? Call us.
What are the private portions in co-ownership insurance?
The “private portions” of a condominium refers to the individual areas of a unit reserved exclusively for the owner, as defined by the condo syndicate. These typically include walls, ceilings, floors, windows, and original fixtures like kitchen cupboards, sinks, or baths.
However, renovations, improvements, or luxury upgrades made by owners are excluded and must generally be insured separately under individual condo insurance policies, under an “improvements and betterments” coverage.
Looking to get insured? Call us.
How much does condo syndicate insurance cost in Quebec?
That depends! The cost varies greatly by building size, age, and risk profile. So, while individual condo insurance can cost $300–$800 annually, syndicate policies are much higher since they cover full reconstruction value and liability for the entire property.
Condo syndicate insurance also falls under the umbrella of commercial insurance, while individual condo insurance is a type of homeowners insurance.
Request a custom quote to see how much your syndicate’s policy might cost.
What happens if the condo corporation doesn’t have insurance?
Good question! Without the correct insurance coverage, the condo syndicate is still obligated to cover damages, often dividing repair and replacement costs among all co-owners.
This can lead to significant financial strain, disputes, and potential legal liability for the collective owners. That said, having proper insurance in place ensures financial stability, legal protection, and greater security for everyone in the building in the event of a claim. By Quebec law, the building’s syndicate must have condo corporation insurance in place.
Need a quote? Call us.
What risks are typically excluded from condo corporation insurance?
Insurance risks that are excluded in condo syndicate insurance policies often apply to unit upgrades or improvements made by individual owners, (which are covered by the insurance policy of the individual unit owner). Specific natural disasters like floods, earthquakes or other high-risk events are also often excluded. You can however purchase these à la carte coverages for an additional premium.
Since exclusions vary depending on the insurer and policy, it’s essential for condo boards and owners to carefully review them with their broker. By doing this, you prevent unexpected gaps in protection and expensive surprises when filing a claim.
Looking for a commercial insurance quote? Call us.
Does the law require condo syndicates to carry insurance in Quebec?
Yes. In Quebec, the law mandates that every condo syndicate carry insurance that covers the building at its full replacement value, including all common areas and shared facilities.
In addition to this, the syndicate must maintain liability protection for itself and its directors and representatives. This legal requirement ensures financial security, protects co-owners, and helps prevent disputes or losses. It’s not optional; condo syndicate insurance is a legal obligation.
We’ll make sure your syndicate meets all legal requirements with the right coverage.
Do we need a certified appraisal for condo syndicate insurance?
Yes. In Quebec, the law requires a certified appraiser to assess the building’s full replacement value at least once every five years. This ensures that the condo syndicate insurance accurately reflects the cost to rebuild or repair the property, keeping coverage sufficient, and deductible funds topped up.
Seeking a quote? Call us.
What is a “standard unit description,” and why does it matter?
A “standard unit description” refers to defining the portions of a condo unit covered by the syndicate’s insurance versus what each co-owner is responsible for insuring individually. This distinction helps prevent disputes after a loss, ensures co-owners understand their personal insurance obligations, and provides clarity for claims, repairs, and financial responsibility.
The portions of a condo unit covered by the syndicate include:
- The “private portions” of the building, included in each condo unit (ex: windows, ceilings, walls, etc.)
- The value of each individual unit
Looking for a quote? Call us.
What does co-ownership mean in condo syndicate insurance?
In the context of condo syndicate insurance, co-ownership refers to the legal arrangement where a group of individuals own a building that is divided into private units and common areas. Each “co-owner” has exclusive rights to their individual unit but also shares the responsibility for insuring, repairing, and maintaining common spaces through the condo syndicate.
In simpler terms, co-ownership means you own your condo unit while sharing responsibility with other owners for the building’s common areas and insurance.
Looking for an insurance quote? Call us.
What does condominium corporation insurance cover?
Condo corporation insurance protects the building structure, including both common areas and internal structures of the building, such as walls and windows. It also provides liability coverage for the syndicate and its board members.
Condo syndicate policies typically address risks such as fire, storm damage, and water leaks, ensuring the property can be repaired or fully rebuilt when unexpected events occur. It safeguards the condo board’s shared investment.
Need condo syndicate coverage? Call us.
What are the recent changes to corporate condo insurance in Quebec?
Passed in 2018, Bill 141 introduced significant updates for condo corporation insurance:
- Syndicates must now insure full rebuilding costs, reassessed every five years.
- They must also set aside a specific fund for insurance deductibles.
- Associations must clearly define standard unit portions.
These changes were established to strengthen financial protection for both syndicates and unit owners.
We’ll help your condo syndicate stay compliant with Quebec’s new insurance rules.
Who pays for condo syndicate insurance: the syndicate or the co-owners?
The condo syndicate is responsible for purchasing and maintaining the master insurance policy, which is collectively funded through monthly condo fees paid by all co-owners.
In Quebec, the individual who actually buys the condo syndicate insurance is typically the president or treasurer of the condo syndicate’s board, acting on behalf of the syndicate. The board is legally responsible for ensuring the insurance is in place, but one designated officer usually handles the administrative task of obtaining and paying for the policy.
Shopping for a quote? Call us.
Does condo syndicate insurance cover board members’ liability?
Yes. This is also referred to as directors and officers insurance, which is included in standard policies in Quebec and Ontario. Syndicate liability insurance provides protection for condo board members if they are accused of negligence, errors, or wrongful acts in carrying out their duties. By covering legal costs and potential damages, this insurance ensures leadership can act on behalf of the corporation, without exposing their personal assets or finances to unnecessary risk.
Get a condo corporation insurance quote today. Call us.
How often should a condo syndicate review its insurance policy?
As per Quebec’s Bill 141 introduced in 2018, reconstruction value must be reassessed by an appraiser every five years, but it’s smart to review coverage annually. This ensures deductibles, exclusions, and premiums remain aligned with your building’s evolving needs.
Book a policy review with us to keep your coverage up to date.
What factors affect the cost of corporate condo insurance?
Like most coverage, condo corporation insurance costs depend on a range of factors. This includes building size, age, construction type, value of contents such as furniture used in the common areas, and location.
Additional factors include claim history, risk exposures like water damage or fire, and optional coverages such as flood or earthquake protection, which can significantly increase yearly premiums.
Ready for a quote? Call us.
What is the deductible (self-insurance) fund?
The deductible, or “self-insurance fund,” is a financial reserve that the condo syndicate must maintain in case of a claim. Typically, it must be equal to the highest deductible in its insurance policy, not including deductibles assigned to earthquake and flood insurance.
This fund ensures that if a claim arises, the syndicate can cover the deductible without imposing sudden financial implications on condo owners.
Ready for a quote? Call us.
How are insurance premiums divided amongst condominium co-owners?
Insurance premiums for a condo syndicate are typically divided among condo unit owners based on the percentage of their unit’s value relative to the entire building.
Each co-owner pays a share of the master condo corporation premium through monthly condo fees, outlined in the syndicate’s declaration. It’s best to revise your condo syndicate’s declaration for specific payment requirements.
Looking for a quote? Call us.
What is condo syndicate insurance?
Condo syndicate insurance is a specialized commercial insurance policy designed to protect the entire building, including common areas and standard private portions of the building (this includes walls, windows, and permanent fixtures), against damage. It also provides liability protection for the condo board and the syndicate itself.
This coverage protects both the property and its collective owners from claims.
Ready for a quote? Let’s talk.
What does co-ownership mean in condo syndicate insurance?
In the context of condo syndicate insurance, co-ownership refers to the legal arrangement where a group of individuals own a building that is divided into private units and common areas. Each “co-owner” has exclusive rights to their individual unit but also shares the responsibility for insuring, repairing, and maintaining common spaces through the condo syndicate.
In simpler terms, co-ownership means you own your condo unit while sharing responsibility with other owners for the building’s common areas and insurance.
Looking for an insurance quote? Call us.
What’s the difference between individual and corporate condo insurance?
Individual condo insurance protects a condo unit owner’s personal belongings, unit improvements, and liability within their private space. This falls under personal condo insurance.
In contrast, condo syndicate insurance covers the entire building structure, common areas, shared facilities, and shared furniture, ensuring repairs or rebuilding can be completed if damage occurs.
Condo syndicate insurance also provides liability protection for all owners, helping to maintain financial security and stability for the condominium association.
Looking for an insurance quote? Call us.
What does condominium corporation insurance cover?
Condo corporation insurance protects the building structure, including both common areas and internal structures of the building, such as walls and windows. It also provides liability coverage for the syndicate and its board members.
Condo syndicate policies typically address risks such as fire, storm damage, and water leaks, ensuring the property can be repaired or fully rebuilt when unexpected events occur. It safeguards the condo board’s shared investment.
Need condo syndicate coverage? Call us.
What are the private portions in co-ownership insurance?
The “private portions” of a condominium refers to the individual areas of a unit reserved exclusively for the owner, as defined by the condo syndicate. These typically include walls, ceilings, floors, windows, and original fixtures like kitchen cupboards, sinks, or baths.
However, renovations, improvements, or luxury upgrades made by owners are excluded and must generally be insured separately under individual condo insurance policies, under an “improvements and betterments” coverage.
Looking to get insured? Call us.
What are the recent changes to corporate condo insurance in Quebec?
Passed in 2018, Bill 141 introduced significant updates for condo corporation insurance:
- Syndicates must now insure full rebuilding costs, reassessed every five years.
- They must also set aside a specific fund for insurance deductibles.
- Associations must clearly define standard unit portions.
These changes were established to strengthen financial protection for both syndicates and unit owners.
We’ll help your condo syndicate stay compliant with Quebec’s new insurance rules.
How much does condo syndicate insurance cost in Quebec?
That depends! The cost varies greatly by building size, age, and risk profile. So, while individual condo insurance can cost $300–$800 annually, syndicate policies are much higher since they cover full reconstruction value and liability for the entire property.
Condo syndicate insurance also falls under the umbrella of commercial insurance, while individual condo insurance is a type of homeowners insurance.
Request a custom quote to see how much your syndicate’s policy might cost.
Who pays for condo syndicate insurance: the syndicate or the co-owners?
The condo syndicate is responsible for purchasing and maintaining the master insurance policy, which is collectively funded through monthly condo fees paid by all co-owners.
In Quebec, the individual who actually buys the condo syndicate insurance is typically the president or treasurer of the condo syndicate’s board, acting on behalf of the syndicate. The board is legally responsible for ensuring the insurance is in place, but one designated officer usually handles the administrative task of obtaining and paying for the policy.
Shopping for a quote? Call us.
What happens if the condo corporation doesn’t have insurance?
Good question! Without the correct insurance coverage, the condo syndicate is still obligated to cover damages, often dividing repair and replacement costs among all co-owners.
This can lead to significant financial strain, disputes, and potential legal liability for the collective owners. That said, having proper insurance in place ensures financial stability, legal protection, and greater security for everyone in the building in the event of a claim. By Quebec law, the building’s syndicate must have condo corporation insurance in place.
Need a quote? Call us.
Does condo syndicate insurance cover board members’ liability?
Yes. This is also referred to as directors and officers insurance, which is included in standard policies in Quebec and Ontario. Syndicate liability insurance provides protection for condo board members if they are accused of negligence, errors, or wrongful acts in carrying out their duties. By covering legal costs and potential damages, this insurance ensures leadership can act on behalf of the corporation, without exposing their personal assets or finances to unnecessary risk.
Get a condo corporation insurance quote today. Call us.
What risks are typically excluded from condo corporation insurance?
Insurance risks that are excluded in condo syndicate insurance policies often apply to unit upgrades or improvements made by individual owners, (which are covered by the insurance policy of the individual unit owner). Specific natural disasters like floods, earthquakes or other high-risk events are also often excluded. You can however purchase these à la carte coverages for an additional premium.
Since exclusions vary depending on the insurer and policy, it’s essential for condo boards and owners to carefully review them with their broker. By doing this, you prevent unexpected gaps in protection and expensive surprises when filing a claim.
Looking for a commercial insurance quote? Call us.
How often should a condo syndicate review its insurance policy?
As per Quebec’s Bill 141 introduced in 2018, reconstruction value must be reassessed by an appraiser every five years, but it’s smart to review coverage annually. This ensures deductibles, exclusions, and premiums remain aligned with your building’s evolving needs.
Book a policy review with us to keep your coverage up to date.
Does the law require condo syndicates to carry insurance in Quebec?
Yes. In Quebec, the law mandates that every condo syndicate carry insurance that covers the building at its full replacement value, including all common areas and shared facilities.
In addition to this, the syndicate must maintain liability protection for itself and its directors and representatives. This legal requirement ensures financial security, protects co-owners, and helps prevent disputes or losses. It’s not optional; condo syndicate insurance is a legal obligation.
We’ll make sure your syndicate meets all legal requirements with the right coverage.
What factors affect the cost of corporate condo insurance?
Like most coverage, condo corporation insurance costs depend on a range of factors. This includes building size, age, construction type, value of contents such as furniture used in the common areas, and location.
Additional factors include claim history, risk exposures like water damage or fire, and optional coverages such as flood or earthquake protection, which can significantly increase yearly premiums.
Ready for a quote? Call us.
Do we need a certified appraisal for condo syndicate insurance?
Yes. In Quebec, the law requires a certified appraiser to assess the building’s full replacement value at least once every five years. This ensures that the condo syndicate insurance accurately reflects the cost to rebuild or repair the property, keeping coverage sufficient, and deductible funds topped up.
Seeking a quote? Call us.
What is the deductible (self-insurance) fund?
The deductible, or “self-insurance fund,” is a financial reserve that the condo syndicate must maintain in case of a claim. Typically, it must be equal to the highest deductible in its insurance policy, not including deductibles assigned to earthquake and flood insurance.
This fund ensures that if a claim arises, the syndicate can cover the deductible without imposing sudden financial implications on condo owners.
Ready for a quote? Call us.
What is a “standard unit description,” and why does it matter?
A “standard unit description” refers to defining the portions of a condo unit covered by the syndicate’s insurance versus what each co-owner is responsible for insuring individually. This distinction helps prevent disputes after a loss, ensures co-owners understand their personal insurance obligations, and provides clarity for claims, repairs, and financial responsibility.
The portions of a condo unit covered by the syndicate include:
- The “private portions” of the building, included in each condo unit (ex: windows, ceilings, walls, etc.)
- The value of each individual unit
Looking for a quote? Call us.
How are insurance premiums divided amongst condominium co-owners?
Insurance premiums for a condo syndicate are typically divided among condo unit owners based on the percentage of their unit’s value relative to the entire building.
Each co-owner pays a share of the master condo corporation premium through monthly condo fees, outlined in the syndicate’s declaration. It’s best to revise your condo syndicate’s declaration for specific payment requirements.
Looking for a quote? Call us.