At Mason Insurance Brokers, our team understands that there is no place like home. It is more than walls and a roof over head, it is a place of family and dreams. Your home is probably your biggest investment and when damage or loss occurs, it can be emotionally and financially devastating.
Whether you are renting a home or have purchased a condo unit, we are committed to working with you to find a tailored insurance solution.
Tenant’s Insurance
No matter what city in Ontario you call home, if you are renting a basement suite, apartment, condo or house, your landlord’s building insurance does not cover your belongs or your liability. Tenant’s insurance has also been called “Renter’s Insurance”, “Condo Tenant Insurance” and “Content Insurance”. Regardless of the name, our team of experts at Mason Insurance can make selecting the right coverage and limits easy. Tenant’s insurance is tailored towards protecting your personal property within the home, liability and additional living expenses if you have to make a claim. Typically, it includes three parts:
- Contents Insurance covers loss or damage to your personal property due to an insured risk.
- Personal Liability Insurance protects you from being liable and having to pay if someone is injured, or their property is damaged, while in your unit.
- Additional Living Expense pays for a portion of your living expenses should you need to vacate your unit due to repairs or other insured risks, such as flood or fire.
Our brokers will work with you to tailor a policy to your unique situation, ensuring you get the insurance coverage you need to protect the things that matter most to you.
Condo Insurance
Condo insurance protects your unit and personal property, as well as your liability exposure. It also extends to provide coverage to unit improvements and betterments, and certain loss assessments not covered by the condo corporation. Our team of brokers understands the need for condo insurance and its complexity, and we will take the time to explain how condo insurance coverage works and the limits you require to protect your investment.
Here are the coverage basics for Condo Insurance in Ontario:
- Contents Insurance covers your personal belongings and extends to items in your storage locker as well.
- Personal Liability Insurance protects you from being liable and having to pay if someone is injured, or their property is damaged, while in your unit.
- Additional Living Expenses pays for a portion of your living expenses should you need to vacate your unit due to repairs or other insured risks, such as flood or fire
- Improvements and Betterments protects and covers any of the improvements made by you or a prior owner. Some examples of improvements and betterments include upgraded cabinets, counters, flooring, and built in cabinets.
- Loss Assessment: The common areas are owned by all condo owners and as a unit owner, you may be required to share the cost of repairing damage to common property areas with other unit owners. These areas can include the roof, exterior siding, lawn, trees, parking area, and other exterior parts to the unit. When there is an issue, it is the responsibility of all the condo owners to pay a portion to help repair the damage. Your condo insurance policy helps provide coverage for these instances as well.
Additional Coverages
- Water Damage Packages including sewer back up, overland water, ground water and water/sewer lines.
- Identify theft
- Claim forgiveness
- Personal Articles Floater
- Home Business Endorsement
Contact our team of experts and will be happy to answer your questions and provide you with a free quote based on your needs.
Start by completing our online form or calling our office for a quote.
