Condo Insurance in St. Albert
Doesn’t it feel good to know you are covered against perils no matter where you live? As a condo owner, you will undoubtedly have unique needs, and standard plans may not give you adequate coverage. While the condominium corporation may insure your building, you still need to ensure that your personal property is protected against damages and disasters. Having condo insurance in St. Albert can provide you with peace of mind. It provides coverage for your personal belongings and improvements made to the unit you own. If you need condo insurance in St. Albert, choose Grandin Agencies, We will protect you against unexpected expenses.
As your trusted insurance agent, we have been providing customized coverages for condos for over 40 years. Fill out the form to schedule a consultation, and our insurance broker will customize a policy for your condo. We work with Intact Insurance.
What Does Condo Insurance Cover?
Insurance provided by a condo corporation covers the main structure and common areas but not your belongings. For instance, when it comes to unit improvement or loss assessment, this insurance is unlikely to apply. But if you have a separate policy for your condo, it covers your belongings.
Here are some other features that condo insurance covers:
This coverage protects you financially when someone in your condo is injured or if their belongings are damaged.
ln the event of a claim, items would be repaired or replaced with no deduction for depreciation if you have condo insurance.
Additional Living Expenses
This insurance covers your additional essential costs. For example, if you are forced to leave your home due to an insured loss, your hotel stay and food expenses will be covered.
Your condo insurance will provide you with protection if you are held financially responsible for any damages to the building or shared property area.
If you can’t understand what is insured by your corporation’s policy, fret not. We have the industry knowledge to answer your questions. You can either check out the commonly asked questions or give us a call.
The cost of homeowner’s insurance varies across the province. There are several variables that affect the average annual home insurance rate in Alberta. Your location, property size, features, insurance requirements, and more affect costs. Homeowners should anticipate paying between $800 and $2,000 yearly.
You can save on your total premium when you club your home and vehicle insurance in one whole package. To get more such tips or answers to your pressing questions about condo insurance in St. Albert, reach out to a member of our team. We will be happy to customize a plan for you that meets your requirements.
The following are some questions our team addresses regularly regarding condo insurance in St. Albert:
Is Condo Insurance Mandatory?
Much like homeowners insurance, there is no law that demands condo owners to have condo insurance. However, condo associations and financial lenders generally expect you to have insurance as a part of the mortgage agreement or contract. Even if that is not the case, we recommend condo insurance to protect yourself against potential liabilities.
How Is Condo Insurance Different From the Condo Association’s Insurance?
Your Condo Association's insurance might cover the common areas you share with fellow condo owners. This area might include the lobby, halls, and shared amenities. To get a clearer idea of the difference between the two, we recommend reading the fine print regarding your Condo Association's insurance.
What Does Condo Insurance Not Cover?
We've discussed what condo insurance typically covers in one of the sections on this page. However, it is also important to know what condo insurance doesn't account for. Typically, condo insurance policies don't cover:
Vehicle damage or theft
Property of a tenant in your condo
How Do I Determine How Much Condo Insurance Will I Require?
The only way to clearly determine how much condo insurance you require is to speak to insurance advisors like us. We will go over the unique details of your condo ownership and recommend customized insurance plans.
Contact Us For Condo Insurance