Who we can help
A closer look at your exposure.
Commercial and residential building owners, property managers, condominium corporations and developers.
The owner’s property, a manager’s professional responsibilities and a condominium corporation’s obligations are not interchangeable. Occupancy, renovations, water systems and replacement values drive the review.
What to discuss with your broker
Building & equipment
Review replacement costs, building systems, equipment breakdown and bylaw-related reconstruction exposures.
Rental income & expenses
Consider the time needed to restore occupancy following insured damage and extra costs during recovery.
Premises & management liability
Discuss injury and damage claims, management errors and directors’ or officers’ responsibilities.
Water & catastrophe
Review available flood, sewer backup and other catastrophe options, deductibles and mitigation measures.
These are areas to consider, not a promise of coverage. Options, exclusions, limits and availability depend on the insurer and your circumstances.
Have a useful first conversation.
If available, have the following information ready. Your broker will tell you what is needed for a formal submission.
- Property schedule, building ages, construction and occupancy
- Recent replacement-cost information and rental income
- Roof, plumbing, electrical and heating updates
- Management contracts, condominium documents and loss history
A question worth asking
Does a condominium policy insure each owner’s belongings?
Owners should review their own unit coverage, contents, improvements and liability. The corporation’s policy and the unit owner’s policy serve different purposes.