Do I Need Condo Insurance in BC?
If you own a condo, townhouse, strata duplex, or another type of strata property in British Columbia, you've probably asked yourself one simple question:
"If my strata already has insurance, why do I need my own?"
It's one of the most common questions I hear from clients, and it's easy to understand why there's so much confusion.
The answer is that there are usually two insurance policies protecting your home.
Your strata corporation's insurance policy protects the building and common property, while your condo insurance policy protects you, your belongings, and many of the costs you could be responsible for after a claim.
The two policies are designed to work together, but they don't cover the same things.
Understanding how they work before something happens can save you thousands of dollars and make the claims process much less stressful.
This article applies to most strata properties in British Columbia, including apartment-style condos, townhouses, many strata duplexes, and some bare land strata developments. Every strata is different, so your insurance responsibilities may vary depending on your bylaws and your insurance policy.
Why Do I Need Condo Insurance If My Strata Has Insurance?
Think of it this way.
Your strata corporation insures the building.
Your condo insurance protects you.
While your strata's policy is an important part of protecting the property, it generally isn't designed to replace your own insurance.
Without your own policy, you could be responsible for replacing your personal belongings, paying for temporary accommodation after a loss, or even contributing toward your strata corporation's insurance deductible in certain situations.
Having your own condo insurance helps protect you from many of these unexpected expenses.
What Does Condo Insurance Usually Cover?
Every insurance company offers slightly different coverage, but most condo policies include protection for things like:
Your personal belongings, including furniture, appliances, clothing, electronics and other contents
Personal liability if you're legally responsible for damage or injury
Additional Living Expenses if you can't live in your home after an insured loss
Betterments and improvements you've made to your unit
Deductible assessment coverage
Personal property stored in areas such as storage lockers (subject to policy limits)
Some insurers also include additional condominium-specific coverages, while others package them together under one combined limit.
Because every policy is different, it's important to understand what your policy actually covers, not just how much it costs.
James' Insurance Tip
The cheapest condo insurance policy isn't always the best value.
Two policies with similar premiums can provide very different limits for important coverages like deductible assessment, improvements to your unit, or other condominium-specific protections.
What Happens If My Neighbour Floods My Unit?
This is another question I'm asked all the time.
If water from another unit damages your home, your first call will usually be to your own insurance company, not your neighbour's insurer.
That often surprises people.
The reason is that your insurance company is there to help repair the damage to your property and get you back into your home as quickly as possible.
If another party is ultimately responsible for the loss, the insurance companies will determine responsibility and deal with one another behind the scenes.
Every claim is different, and responsibility depends on the circumstances of the loss, the insurance policies involved, and your strata's bylaws.
The important thing to remember is this:
If your home has been damaged, don't wait to report the claim because you think someone else should pay for it.
Contact your insurance company as soon as possible so they can begin helping you.
Can My Strata Charge Me Their Insurance Deductible?
Potentially, yes.
Over the past several years, many strata corporations have seen significant increases in their insurance deductibles, particularly for water damage and earthquake coverage.
Depending on your strata's bylaws and the circumstances surrounding a loss, you could be responsible for paying all or part of your strata corporation's insurance deductible.
That's why deductible assessment coverage has become one of the most important parts of a condo insurance policy.
While every insurance company provides this coverage differently, it may help protect you if you're legally assessed for part of your strata corporation's deductible following a covered loss.
Because the rules can vary between buildings, this is a good topic to review with your broker before you need it, not after a claim has happened.
What If My Condo Has Been Renovated?
Not every condo looks the same as it did when it was first built.
Over the years, renovations may have been completed by you or by previous owners. These upgrades can add value to your home, but they can also affect your insurance.
Common examples include:
Hardwood or luxury vinyl flooring
Stone or quartz countertops
Kitchen renovations
Bathroom upgrades
Custom cabinetry
Built-in shelving or entertainment units
Depending on your strata's insurance responsibilities and your own policy, these improvements may not be fully covered under the strata corporation's insurance.
That's why it's important to let your broker know if your unit has been renovated, even if you weren't the one who completed the work.
If you've recently purchased your home, it's worth discussing any existing upgrades with your broker to make sure your condo insurance adequately protects the unit as it exists today.
James' Insurance Tip
If you're buying a resale condo or townhouse, don't assume the previous owner's renovations are automatically covered. Mention any upgraded flooring, kitchens, bathrooms, or other improvements to your broker so your coverage can be reviewed.
Do I Really Need Overland Water Coverage If I Live on the Fourth Floor?
It's a fair question.
After all, if you're several floors above ground, how could flooding affect your home?
While overland water entering your unit may be less likely, there are still situations where this coverage can be important.
For example, damage affecting common areas, parkades, storage lockers, or other parts of the building may still impact you.
Depending on the circumstances, it could also affect deductible assessments or leave your building temporarily uninhabitable, making Additional Living Expenses an important coverage to have.
Every building is different, which is why it's worth discussing your specific situation with your broker rather than assuming a particular coverage isn't necessary.
Don't Just Review Your Insurance at Renewal
One thing many condo owners don't realize is that your condo insurance policy and your strata corporation's insurance policy often renew at different times of the year.
Your own policy might renew in September, while your strata renews its insurance in April.
If your strata's insurance changes, perhaps by increasing its water damage deductible or changing its coverage, you may also want to review your own insurance to make sure it still complements your strata's policy.
Rather than waiting until your own renewal, consider reviewing your condo insurance whenever your strata renews its insurance as well.
A quick conversation with your broker can help make sure your coverage continues to meet your needs.
James' Insurance Tip
After your strata's annual insurance renewal, ask your property manager or strata council for a copy of the updated insurance summary. It's one of the easiest ways to stay informed about changes that could affect your own insurance coverage.
Questions to Ask Before Renewing Your Condo Insurance
Before renewing your policy, consider asking your broker:
Do I have enough deductible assessment coverage?
Are my renovations covered?
Do I have overland water coverage?
Is my Additional Living Expenses limit adequate?
Are my storage locker and personal belongings properly insured?
Has my strata's insurance changed since my last renewal?
A quick review each year can help ensure your coverage still matches your needs.
The Bottom Line
Owning a condo, townhouse, or other strata property means your insurance works a little differently than it does for a detached home.
While your strata corporation's insurance helps protect the building, your own condo insurance protects you, your belongings, and many of the unexpected costs that can arise after a claim.
Understanding how the two policies work together, and reviewing your coverage regularly, can help you avoid surprises and make sure you're properly protected when you need it most.
Frequently Asked Questions
Do I need condo insurance if my strata has insurance?
Yes. Your strata corporation's insurance and your condo insurance protect different things. Most owners need both.
Does this article apply to townhouses?
In many cases, yes. If your townhouse is part of a strata corporation, many of the same insurance principles apply.
What is deductible assessment coverage?
It's coverage that may help if your strata corporation legally assesses you for all or part of its insurance deductible after a covered loss, subject to your policy wording and limits.
If my neighbour causes the damage, why do I call my own insurance company?
Your insurer is there to help repair the damage to your property. If another party is responsible, the insurance companies will determine responsibility afterward.
Should I review my insurance when my strata renews its policy?
Yes. Changes to your strata's deductibles or insurance coverage may affect your own insurance needs, even if your policy doesn't renew until months later.
Need Insurance Advice?
Insurance information is a great starting point, but every person, family, home, and business has unique insurance needs.
If you have questions about your current coverage, are approaching your renewal, or simply want a second opinion, I'd be happy to help you understand your options and determine whether your coverage still meets your needs.
I work with multiple insurance companies to help clients find coverage that fits their situation, not just the lowest price.
📍 Proudly serving Langley, the Fraser Valley, Metro Vancouver, and clients throughout British Columbia and Alberta.
About the Author
James Kramer is an independent insurance advisor with more than a decade of experience helping individuals, families, and business owners protect what matters most.
He provides general insurance, including Home, Auto, ICBC Autoplan, Business, Travel, and Specialty Insurance, throughout British Columbia and Alberta, as well as independent life insurance solutions across British Columbia.
Through the Insurance Learning Centre, James shares practical insurance advice, explains common coverage questions, and helps Canadians better understand their insurance so they can make informed decisions with confidence.
Disclaimer
The information provided in this article is intended for general informational purposes only and should not be considered insurance, legal, or financial advice.
Insurance products, policy wordings, coverage options, eligibility, and availability vary by insurer and province. Always review your own policy and consult a licensed insurance advisor regarding your specific circumstances before making insurance decisions.