Fort McMurray Condo Insurance

Looking for the best condo insurance in Fort McMurray?

Your condo is your refuge, and we know you only want the best of the best. That is where one of our Fort McMurray condo insurance brokers can help.

Whether you live in a condominium in Eagle Ridge, are centrally located in Downtown Fort McMurray or are surrounded by woodland in Abasand, our advisors can shop the insurance market for you

We work with top insurance companies to find comprehensive insurance coverage for your individual unit, so you can have peace of mind knowing you are properly covered.

Why do I need condo insurance in Fort McMurray?

Many condo owners might be confused by what is covered by their condo corporation versus what they would receive with an individual condo insurance policy. Even though condominium corporations have insurance for the larger, overall building and designated public areas, you still need your own condo insurance policy in Fort McMurray to ensure both your specific unit and belongings are protected.

What does condo insurance include?

Our condo policies include the following:

Condo insurance helps ease the burden of physical damage expenses

This type of coverage is the one most people think of when it comes to condo insurance. It offers protection against physical damage occurring inside your specific unit, providing events were accidental or completely outside of your control.

Condo insurance typically covers physical damage resulting from:

• Theft
• Vandalism
• Fire

Condo insurance protects you with personal liability coverage

Perhaps not as commonly known, condo insurance can help provide you with a certain level of legal protection in some specific scenarios. For example, in the event a visitor sues you after sustaining injuries at your residence, condo insurance would help you cover your legal expenses.

Condo insurance supports additional living expenses

Needing to repair your condo after an insured loss has occurred is stressful enough without having to worry about the expense of affording a place to stay until the work is complete. Thankfully, if you have submitted an approved claim, condo insurance can help you pay for common living expenses while you are out of your unit. This can include everything from accommodation to transportation, and even food.

As an owner, if I rent my condo unit to someone else, do I still need insurance?

As an owner who rents out your condo unit to someone else, you may be wondering what type of insurance coverage you need, if any. The simple answer is: if you own a condo, you need condo insurance – regardless of whether you or renters are occupying it. This will help protect your property from a variety of insured perils.

Also, if you are utilizing your condo as an income property, you will want to ask your broker about adding rental income coverage to your policy as well. This will help cover you in the event something happens to the building, which prevents a tenant from occupying the space. Rental income coverage ensures income continuity, not possible otherwise.

How much does condo insurance cost in Fort McMurray?

Rates for condo insurance in Fort McMurray vary, as they are dependent on multiple factors, from where you live to your personal information.

Here are some of the main factors, which influence condo insurance rates:

• Building details
  • Building type / classification
  • Building materials used
  • Age and type of electrical, heating and plumbing
• Neighbourhood specifics
  • Crime rate of your neighbourhood
  • Claim rate of your neighbourhood
  • Location, and proximity to hazards, such as rivers
• Personal details
  • Your age
  • Your credit rating
  • Your insurance and claims history
  • Replacement value of personal belongings

Other items, which relate specifically to policy options, will also determine your premium. These include your deductible, policy limit and any additional coverages you have selected.

Advantages of working with our Fort McMurray condo insurance specialists

Our team is local – we both live and work in Fort McMurray too.

As condo insurances specialists in Fort McMurray, we leverage our experience and expertise to find you the best deals at the best price. Plus, as an independent insurance brokerage, you can rest easy knowing we are working directly for you with your best interest in mind.

Our team takes the time to make sure we understand your specific needs. Then, we compare your options across a vast array of different insurance providers to find the best policy for you. We’ll also offer free advice and guidance each step of the way.

Talk to a dedicated condo insurance broker in Fort McMurray to get started.