Condo insurance

In practiceYou upgraded your kitchen and a fire damages it, and this covers the improvements the condo master policy won't.

Not coveredThe building shell and common areas are the corporation's master policy, not yours.

In practiceA break-in or burst pipe ruins your furniture and electronics, and contents coverage replaces them.

Not coveredFlooding is usually not covered unless you add water coverage.

In practiceA guest is hurt in your unit, and personal and family liability responds to the claim.

Not coveredInjuries to your own household aren't liability claims.

In practiceA covered loss makes your unit unlivable, and additional-living-expense coverage pays for somewhere to stay.

Not coveredIt covers extra costs above your normal expenses, with limits.

In practiceA big shared loss is billed back to owners by the corporation, and loss-assessment coverage helps with your portion.

Not coveredIt applies up to the loss-assessment sub-limit in your policy, not without limit.