This is going to protect
your condo against a fire and natural disasters, but what make a comprehensive policy different are the reimbursement options.
Not exact matches
Most Canadians carry typical home / tenants /
condo unit owner's policies providing coverage for their physical assets (
fire, water damage, etc) and liability coverage
against third party claims such as a slip & fall on one's premises / property.
Renters insurance can protect
against loss if a
fire damages possessions in your apartment,
condo or townhome building.
A
condo owner's insurance policy usually helps protect belongings, such as furniture, computers or clothing,
against a covered loss such as theft or
fire.
A typical
condo policy includes coverage for the owner's belongings
against covered perils such as
fire or theft.
It includes protection for your personal possessions, coverage
against personal liability concerns, and money set aside for additional temporary living expenses that may follow a catastrophic event such as an apartment
fire or storm damage at your
condo making it unlivable.
There are six main types of homeowner insurance and range from very basic protection
against fire to
condo owners to owners of older homes.
If you rent your
condo, you could benefit from the protection of renters insurance, which covers your personal property
against loss due to
fire, burglary, or storm.
Add to this the provisions for medical payments coverage and loss of use, and you can clearly see that renters insurance is about much more than just protecting your clothes and furniture
against the threat of
fire in your
condo.
In most cases,
condo insurance protects owners
against 16 different perils including theft, vandalism,
fire, smoke, windstorms or hail, volcanic eruptions and damage caused by automobiles or aircraft.