How much of the condo do you own? Are you covered for loss assessments? Let our local agent help you through the unique details of insuring your condo.

  • The answer depends on your condo association agreement (also called other fancy names like "Declaration of Condominium" or "Master Deed"). Your responsibility will typically fall into one of two main categories:
  • "Air space" Ownership (also called "paint-in" or "what I bring in") - You own the inside of the unit, starting from the unfinished interior surfaces - walls, floors and ceilings. This generally does not include fixtures or built-in appliances. You might only be responsible for insuring your own belongings such as furniture, electronics and clothing.
  • "Bare walls" Ownership (also called "studs-in") - Your ownership is broader, starting from the roof trusses, floor slabs and exterior walls of the building. This generally includes interior walls, stairs, doors, closets, cupboards, built in appliances, and heating and cooling systems. You'll need broader insurance coverage for this type of condo agreement.
  • Sometimes, condo owners are assessed by their condo association for losses "outside the walls" that were not completely covered by the association's policy.
  • You may want to have additional coverage in case this happens.  More

Tips for talking with your agent

  • Bring copies of your condo association agreement to review.
  • Take stock of how much you could afford to pay if an assessment is issued.
  • Create a home inventory to catalog your personal property.