Both the owner and the condominium corporation are required to have insurance but the requirements will differ. The corporation may need to be responsible for the common areas and units; the corporation’s property, personal liability concerning claims for bodily injury and property damage occurring on condominium property or is the cause of the condominium corporation; boilers and other equipment; directors and officers insurance; and all perils that are recorded in the condominium governing documents. The unit owner could be responsible in insuring their personal property such as appliances, jewelry, and items stored in lockers; improvements made to the unit, depending on the provincial legislation; and personal liability.
The corporation may be responsible for insuring:
The unit owner may be responsible for insuring:
Your Guide to Ottawa Condos