Tenants & Condominium Insurance in Ontario - Simple, Clear, and Tailored to You

Condo corporations and landlords insure buildings-not your unit improvements, contents, or personal liability. We'll explain the differences and help you choose the right protection at the right price.

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Quick facts

Condo corp covers building & common areas, not your unit’s contents or most upgrades.
Most leases require tenants’ liability coverage.
Know your condo’s standard unit definition & corporation deductible.

Quote checklist

Address, unit #, building age/construction
Sprinklers/alarms; storage locker details
Condo: standard unit definition & corp deductible
Improvements/betterments & contents estimate
Desired liability limit; prior claims
Any short‑term rental or home‑business activity

At a glance - What you insure vs. what the building/landlord insures

	Building / Condo Corp / Landlord	You (Condo unit owner or Tenant)
Building structure & common elements	✔️	-
Your unit's improvements & betterments	Often not covered (standard unit only)	✔️
Your contents / personal property	-	✔️
Personal liability	Does not protect you personally	✔️
Additional living expenses	Limited or not for you	✔️

Exact responsibilities depend on your condo's declaration/by‑laws or your lease. We'll help you interpret what applies.

For Condominium Unit Owners

Core coverages

Contents: covers belongings (furniture, clothing, electronics, décor, sports gear, etc.) against insured perils such as fire, theft, vandalism, and certain water damage.
Improvements & Betterments: upgrades inside your unit-flooring, cabinetry, counters, lighting, built‑ins, added walls.
Personal Liability: if you unintentionally cause injury or property damage (e.g., a fire or water leak that affects other units).
Additional Living Expenses: the extra cost to live elsewhere if a covered loss makes your unit uninhabitable during repairs.

Condo‑specific protections

Loss Assessment: helps with your share of special assessments arising from insured losses to common property or condo liability, when the corporation's policy or reserve is insufficient (per wording).
Contingent Unit Coverage: backstop for physical damage to your unit if the condo corporation's building insurance is inadequate or not effective.
Condo Corporation Deductible Assessment (where available): some by‑laws allow chargebacks of the corporation's deductible when damage originates from a unit. This optional coverage can help, up to limits.

For Tenants (Renters)

Contents: covers your belongings at home and, to a limit, while temporarily away. Choose All‑risk (broadest; excludes only what's listed) or Named Perils (only listed causes).
Personal Liability: commonly required by lease; helps if you unintentionally cause injury or property damage to others (e.g., fire or water damage to other suites).
Additional Living Expenses: extra costs to live elsewhere when a covered loss makes your apartment uninhabitable.

Popular add‑ons

Scheduled items for jewellery, bikes, art, instruments, collectibles
Water coverages (e.g., sewer backup/overland water) where available
Identity theft expense
Home business or student‑away endorsements (where eligible)

Insured perils - typical examples

Show details

Fire, lightning, explosion
Smoke from sudden malfunction (not fireplaces)
Impact by vehicle/aircraft; falling objects
Theft and vandalism (conditions may apply)
Riot or civil commotion
Transportation of personal property while temporarily away
Sudden & accidental escape of water from indoor plumbing/heating/sprinkler/AC or domestic appliances; damage from a water main
Optional: overland flood and sewer backup (availability varies by location/insurer)

Exact wording varies by insurer and policy form. We'll explain what's included on your quote.

Common exclusions & limitations (high level)

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Maintenance issues, wear & tear; vermin/insects
Certain freezing losses if heating wasn't maintained or unit wasn't checked per policy conditions while away in winter
Earth movement (landslide/earthquake) unless added; some ice/roof water limitations
Pollution; illegal property; intentional/criminal acts
Direct damage from intentional heat application to an item (e.g., scorching by iron); resulting fire damage is typically covered

FAQs

Do I need condo insurance if the corporation already has insurance?

Yes. The corporation's policy covers the building and common elements. You still need coverage for your contents, improvements, personal liability, and exposure to loss/condo deductible assessments (where applicable).

My condo has a storage locker-are items in it covered?

Generally yes as part of contents, but limits/conditions can apply (e.g., theft without visible force). Tell us what you store so we can set the right limits.

Can I do short‑term rentals (e.g., Airbnb)?

Most standard condo/tenant policies exclude short‑term rentals unless specifically endorsed or placed on a different wording. Always tell us before listing.

How high should my liability limit be?

We'll walk you through options (e.g., $1M, $2M, or higher) and how personal umbrella policies coordinate across home/auto/rec exposures.

Water came from the unit above-am I covered?

Often covered if sudden/accidental and not otherwise excluded, subject to your deductible and limits. Optional water coverages may be available depending on your address and insurer.

Do roommates need their own policy?

Policies are typically written for a household. Roommates may need to be named or get separate policies depending on insurer and lease terms. Ask us for guidance.

Ready for a personalized condo or tenants insurance quote?

Speak with an L.D. Dermody advisor. We'll review your building/lease requirements and help you choose the right protection.

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