Question:
"I have been trying to get condo insurance for 3 days! Part of the problem is that the insurance company employs people in their sales department who are not familiar with the product. The other part is that I don't exactly know what I should be insuring for other than contents because I don't know what the condo insurance covers.
I had some ‘insurance professionals' saving that I only needed content insurance which I said no. Then I had another saying that I was a tenant and only needed tenant insurance. Then I had another company that would not open up a new policy for the condo insurance because our name was on the title and WE had to transfer ALL of our personal insurance to them before they would give us insurance!"
Answer:
In Alberta, you need only insure anything within the boundaries of the unit. Everything else is covered by the insurance carried by the condominium corporation. They should send you a copy of their new policy every year. if they do not, and you are unsuccessful in obtaining the certificate yourself, have your lawyer send them a demand letter. You must be satisfied that the structure is insured.
So far as your own insurance on a conventional condominium, this wouldn't normally include the pipes or electrical, but you should insure replacement costs of cupboards, kitchen island, plumbing fixtures, carpet, furnishings. It would probably cover replacement cost of all the drywall.
If your condominium is a Bare Land Condominium you will probably need to have condo insurance for the entire structure just as though it was a single family detached home, and as well, the contents.
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