Under the Condominium Act, 1998, a condominium corporation is obligated to secure insurance to cover the common elements and the standard units. Unit owners are responsible to insure any improvements made to their unit. Some condominium declarations require unit owners to maintain their own insurance, while others simply permit unit owners to do so.
If your condominium corporation was registered on or after May 5, 2001, the date the new condominium act was proclaimed, the builder should have provided the condominium corporation’s board of directors with a schedule setting out what constitutes a standards unit as part of the declarant’s turnover documents. Unit owners should bring this document to the attention of their insurer and be prepared to describe their particular unit’s features so that appropriate insurance coverage can be obtained.
If your condominium corporation was registered before May 5, 2001, you should ask the board of directors whether your condominium corporation has passed a standard unit by-law. If so, you should bring the standard unit by-law to the attention of your insurer to obtain appropriate coverage.
If your condominium corporation was registered prior to May 5, 2001 and your condominium corporation does not have a standard unit by-law, it may be the case that nothing will be considered an improvement (see D’Alessandro v. Carleton Condominium Corporation No. 43, 2006 CarswellOnt 6651).
Unit owners should also obtain insurance to cover personal property located in their unit.