Are Edmonton Condos Protected?
Is your Condo safe from damage from weather and other elements? By regulation condos in Edmonton and the rest of Alberta are required (through the condominium corporation) to have the their condo complex insured against the following perils:
- fire
- leakage from fire protective equipment
- smoke
- lightning
- windstorm
- hail
- explosion from natural gas, coal, or manufactured gas
- water damage caused by flood
- water damage caused by sewer back-up or the sudden and
accidental escape of water or steam from within a
plumbing, heating, sprinkler or air conditioning system or
a domestic appliance that is located within an insured building - impact by aircraft, spacecraft, watercraft and land vehicles
- riot, vandalism or malicious acts
- any other perils as required in the specific by-laws of the condo
This insurance policy is negotiated by the condo corporation and is paid for by the monthly condominium contributions (commonly referred to as “condo fees”).
When I’m working with clients who are buying a condo in Edmonton I always request from the seller that they provide my client with an insurance certificate that verifies that the condominium corporation has a valid and current insurance policy for the corporation. By doing your due-diligence you are ensuring that if something out of your control does happen to your condo building or unit then you are protected.
Author: Nathan Mol, REALTOR®
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