Betterments & Improvements

Betterments and Improvements coverage is essential for condo owners who make upgrades or customizations to their units. This coverage ensures that any enhancements you make to your condo, such as new flooring, built-in cabinetry, or upgraded fixtures, are protected against damage or loss. By covering the value of your improvements, this policy helps you maintain the value and functionality of your home investment.


    Personal Property Coverage

    Personal Property Coverage is designed to protect your belongings inside your home. This coverage ensures that your personal items, such as furniture, electronics, clothing, and other valuables, are safeguarded against risks like theft, fire, and vandalism. With Personal Property Coverage, you can rest assured that your possessions are covered, allowing you to replace them in the event of damage or loss.

    • Broad Protection: Covers a wide range of personal items against theft, fire, and other risks.
    • Replacement Cost: Provides funds to replace your belongings at current market value.
    • Off-Premises Coverage: Protects personal property even when it’s outside your home.
    • Valuable Items Coverage: Offers additional protection for high-value items such as jewelry and collectibles.

    Liability Coverage

    Liability Coverage is a crucial part of your condo insurance, offering protection against legal and financial responsibilities if someone is injured or their property is damaged while in your unit. This coverage helps cover medical expenses, legal fees, and any awarded damages, ensuring that an unexpected incident doesn’t compromise your financial security. Additionally, liability coverage extends to personal liability incidents that occur away from home, offering you comprehensive liability protection wherever you go.

    • Medical Payments: Covers medical expenses for guests injured on your property.
    • Legal Defense: Provides for legal fees and court costs if you are sued.
    • Personal Injury Protection: Protects against claims of slander, libel, or defamation.
    • Property Damage: Covers accidental damage to someone else’s property caused by you or your family members.
    • Personal Liability: Provides protection against legal and financial responsibility for injuries or property damage occurring both on and off your premises.

    Loss Assessment

    Loss Assessment coverage is essential for condominium owners, providing protection when your condo association’s master policy falls short. This coverage helps pay for your share of costs related to damage or liability claims involving common areas or shared structures. Whether it’s a large deductible on the master policy or expenses exceeding the policy limits, Loss Assessment ensures you are not left bearing a significant financial burden, safeguarding your investment and financial security.

      Special Assessment

      Special Assessment coverage is designed to protect condominium owners from unexpected costs levied by the condo association for major repairs or improvements. When the association’s reserve funds are insufficient to cover significant expenses such as structural repairs, roof replacements, or other large-scale projects, these costs are often passed on to unit owners through special assessments. This coverage helps you manage these unexpected financial obligations, ensuring that you can maintain your budget and financial stability while contributing to the upkeep and enhancement of your condominium community.

        Additional Living Expense

        Additional Living Expenses (ALE) Coverage is designed to support you financially if your home becomes uninhabitable due to a covered loss. This coverage helps pay for temporary living costs, such as hotel stays, restaurant meals, and other necessary expenses, while your home is being repaired or rebuilt. With ALE Coverage, you can maintain your standard of living without worrying about the extra costs associated with displacement.

        • Temporary Housing: Covers the cost of hotel stays or rental properties while your home is being repaired.
        • Meal Expenses: Reimburses you for additional dining costs incurred during your displacement.
        • Moving and Storage: Provides funds for moving and storing your belongings if needed.
        • Comprehensive Support: Ensures that you can maintain your lifestyle and comfort during the repair or rebuilding process.

        Experience You Can Trust

        At Axis Insurance, we understand the unique needs and challenges faced by condominium and co-op owners in Canada. Whether you’re in a bustling urban centre or a serene suburban community, your condo is more than just a home—it’s a significant investment. Since 1928, we’ve been dedicated to providing tailored personal insurance solutions that protect your condo and your peace of mind. Our expertise ensures that, regardless of your location or requirements, we deliver precise and personalized coverage at competitive prices, ensuring that every condo owner in Canada feels secure and protected.

        Our Personal Insurance Team