Fawcett InsuranceNorth Vancouver Insurance - Servicing all your insurance needs
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Condo / Townhouse Insurance
Ownership in a stratified dwelling presents a different set of risks for an owner for property and liability. When you are the owner of a unit in a strata you are responsible for your own Personal Property (contents), Additional Living Expenses (when the home is uninhabitable due to a claim) and Personal Liability which is provided on a worldwide basis (including legal costs) if it is the principal residence.
Additional property coverage unique to condo owners includes;
- coverage for the Strata Corporation deductible (in the event you are required to contribute to pay for damage to the building insured by the Strata policy with varying limits available),
- Unit Improvements & Betterments (any upgrades done to the unit after original construction),
- Loss Assessment (for any damages levied against by the Strata Corporation for damages you are liable for)
- Unit Additional Protection (covers any shortfall on the Strata Corporation policy which would create financial loss for your unit).
Many discounts are available such as;
- Claims Free (3 years of insurance claims free),
- Maturity (persons over 50 years old),
- Burglar & Fire Alarm (local and monitored),
- Multi-Line (carrying multiple locations with the same insurer) and
- Credit Check (soft).