Choosing the coverage - Insuring your condo - Insuring - Co-owner - Home insurance |


Insuring your condo

You need to decide the level of coverage you need. Generally, you need to choose between these two types of policies for your home insurance:

  • The Specified Perils Form covers your possessions against certain perils specified in the policy as well as your legal liability.
  • The Comprehensive Form covers all perils other than those specifically excluded under the policy. It also covers your legal liability. It’s more expensive, but you’ll have a higher protection.


You can add additional coverage, or endorsements, for certain risks that are not automatically included under your policy. The most popular are those for sewer backup and water seepage.

Examples of property with limited coverage

$1,000 to $2,000

  • Software
  • Jewellery,
  • Audit and
    video media
  • Animals
  • Bicycles

$5,000 to $10,000

  • Objects made of silver or gold
  • Works of art
  • Wine and spirits

Depending what is specified in your policy, the indemnity payable could be limited to $1,000, $2,000, $5,000 or $10,000, depending on the property and nature of the loss.

Perils usually covered under your insurance policy

  • Windstorms
  • Hail
  • Lightning
  • Fire or forest fires
  • Explosion and smoke
  • Discharge or overflow of public water mains carrying drinking water
  • Discharge or overflow of plumbing systems or appliances such as bathtubs, toilets, washing machines or dishwashers
  • Theft or attempted theft
  • Vandalism
  • Impact from objects or vehicles
  • Riots

Examples of perils not covered under your home insurance policy

  • Landslides, earthquakes* and other earth movements
  • Pollution
  • Damage to property acquired illegally
  • Losses caused by criminal acts of the insured
  • Losses due to war, terrorism, nuclear risks

* Coverage for damage caused by an earthquake is available under an endorsement.

Water Damage – Above Ground Water Coverage

As its name indicates, this coverage covers damage caused by above ground water, including:

  • Sudden and accidental leaking of rain or snow
  • Sudden and accidental discharge, backing up or overflow of rain gutters, eaves troughs or downspouts

Water damage – Ground Water and Sewers Coverage

As its name indicates, this coverage covers damage caused by ground water, including:

  • Sudden and accidental seepage of underground or surface water
  • Sudden and accidental discharge, backing up or overflow from sewer connections
  • Rising of the water table