Whose insurance covers what?

Strata Corporation

  • The building as it was originally built
  • A loss over the strata’s deductible

Unit Owners

  • Changes and updates made by the unit owner (including former owners)
  • Unit owner’s contents, including appliances
  • Income from rent (up to 12 months) if a claim keeps the unit from being rented
  • A loss less than the strata’s deductible

Tenants

  • Their own contents (furniture, clothing, TV, etc.)
  • Their own additional living expenses (housing, food, etc.) if a claim keeps them from living in their rented unit

If an insured loss happens, such as fire or water damage, any or all the above insurance policies could be involved.

Disclaimer: This bulletin is intended to provide readers with general information only. Readers are urged not to rely solely on the content of the bulletin but to consult with appropriate professionals on a case-by-case basis.