Your own Rented Condo Insurance will cover:
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- the Strata deductible in case your unit is found liable for the damages to the other strata units and the building.
- Loss of rent if the suite is deemed inhabitable due to flood and fire
- Liability in case your unit caused damages to another unit
- Personal properties in case of flood or fire such as damaged flooring, furnitures and appliances.
Your Strata insurance only covers anything OUTSIDE of your suite, but not inside. Your tenant will have their own insurance which covers their own personal properties, any additional expenses if they have to move out temporarily and their personal liability if they are the one who caused the damages. All our managed properties must carry active rented condo insurance. Please consult your insurance agent for further details.