Doubled up on different strokes

For some losses, both the condo corporation’s insurance and the condo owner’s insurance will need to respond. If the condo owner has coverage from the same carrier that the condo corporation uses, this can smooth the claims settlement and coordination process.

On the other hand, some carriers may prefer not to cover unit owners if they’re already providing the condo corporation’s policy – a carrier may prefer to avoid possible aggregation issues by limiting the number of risks they will cover in the same building.

Savvy condo owners may also choose a different carrier in order to obtain the policy limits and endorsements that best meet their specific needs.