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Condo Insurance Kelowna

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Kelowna is the largest city in British Columbia’s Okanagan Valley. It is a smaller city but boasts all the amenities of big-city living; it has a rural yet urban feel. Kelowna is surrounded by a range of mountains and pristine lakes and plays host to many visitors each year who come down to explore the miles of beautiful parkland and sandy beaches. The Okanagan is known for its great wines and vineyards and has a growing food scene. The weather in Kelowna is some of the best in Canada, not as cold or humid conditions as other provinces can experience.

Condos are a popular choice among people who either want to downsize, who don't want a lot of yard work and house maintenance, and who like the amenities that a condo building provides! It gives people the opportunity to embrace homeownership without the hassle of menial tasks such as yard work, snow removal, or home repairs - you just have to worry about your own living space. 

Comparing rates from Canada’s leading Condo insurance providers
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Types of Coverage We Provide
Home Insurance

This provides coverage for loss and damage to your property and/or any assets.

Liability Coverage

This would provide protection against a lawsuit resulting from damaged property or personal injuries


A predetermined amount of money that you must pay towards the cost of the claim. Home insurance has different deductibles for different coverage.

Sewer Backup, Overland/Ground Water

These are optional coverages you can buy that protect you for water damage such as sewer back up and fresh water flooding.

Claims Forgiveness

This allows for the protection of your “claims free discount” in the event of your first claim.

Scheduled Items

Referring to 'special limits' on items like jewellery or art if the value is greater than the special limit you should list the item separately.

Comprehensive Insurance Coverage

When you purchase comprehensive home coverage, it means you are covered for anything that is not excluded.

Broad Coverage

When you purchase broad home coverage, it limits your contents coverage to only specific coverages, (ie. theft, fire, water damage, etc.)

Condo Insurance in Kelowna - What You Need to Know

Condo insurance protects the units within a condo building. You would get it to protect your contents such as appliances, clothing, and furniture (and would also cover items stored in a locker). 

It would also provide additional living expenses in the event of an insured loss (if you had to temporarily move out) as well as the condo owner's liability for any bodily injury or property damage that was unintentionally caused by others in the building.

No, condo, home, or tenant insurance is not mandatory in Canada, although the condo association, or the owner of the condo, may require you to have to move in. You also need insurance to secure a mortgage to purchase a home or condo. So, even though it is not legally required to have, there are other outlets that may require the homeowner to purchase it.

If you own a condo or rent a house or apartment, some landlords may require tenants to have tenant insurance before moving in and condo corporations and lenders may require condo unit owners to show proof of insurance before moving in as well.

You will need to get strata insurance in BC (also known as condo insurance).
All strata corporations in B.C. are required by the Strata Property Act to carry insurance. So you will need to have it before moving in, or before purchasing the unit.

Major perils, such as fire, wind, water, and lightning, must be covered under the strata insurance policy. A typical strata insurance policy covers damage to the common property such as the hallways and party rooms of the building.

In British Columbia and some parts of Alberta, condominiums are also known as strata. The definition of what is owned by the unit owner depends on the condominium or strata declaration. As the unit owner,  you have title to your unit as well as a share in the common property of the condominium. The common areas of buildings include places such as the lobby, rooftop patio, swimming pool, parking garage, and other amenities. 

A 'bare land' strata or condominium may have only a few common areas (not many amenities) such as streets or roadways that provide access to the units. These are usually common with older condominium buildings.

In British Columbia and some parts of Alberta, strata housing is often referred to as condos or condominiums. However, strata housing not only includes apartment-style condominiums but can also include: duplexes, townhouses, fractional vacation properties, and even single-family homes in bare land strata corporations (“strata subdivisions”).

Condo building insurance is different. This is purchased by the condo corporation to cover damage to the building and the common areas and liability on the property. This is usually included in the monthly condo maintenance fees.

Best Cafes in Kelowna
  1. Pulp Fiction Coffee House
  2. Third Space Cafe
  3. Cafe XI
Top Wineries in Kelowna
  1. CedarCreek Estate Winery
  2. The View Winery & Vineyard
  3. Ancient Hill Winery
Best Shopping in Kelowna
  1. Orchard Park Shopping Centre
  2. Mission Park Shopping Centre
  3. Orchard Plaza Shopping Centre

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There are many advantages to living in a condo! Here are a few:

  • Flexible living, you can just lock up and go
  • More affordable than single-family homes
  • Cheaper insurance
  • Great sense of community in the building with your neighbours
  • Living in the heart of the city gives you proximity to entertainment & business districts (closer to your work)
  • Top-notch amenities, such as gyms,  pools, party rooms etc.....
  • Appliances included
  • Covered maintenance in your condo fees - building maintenance and cleaning of communal areas

Landlord insurance differs from condo insurance as it protects the property owner from various unique landlord-related risks, like lost rental income.

Rental income coverage:  This coverage ensures that if there is a loss-related reason that their tenants cannot stay living in the condo, like fire or water damage, then Rental Income coverage will pay the condo-owner their rent money until the tenant can move back in.

Damages coverage: If your tenant causes damages to your condo, the policy will extend to cover the cost of the repairs. For example, if the tenant drops a towel on a hot stove and it catches fire doing damage to the kitchen, for insurance to respond the condo-owner would need to make sure that they had a Landlord Condo insurance policy. If the condo wasn't insured properly on the Landlord form, the insurance policy would not respond and the condo owner would be required to pay for the damages themselves.

Liability Coverage: If your tenant causes damages to the building itself -exterior or interior common spaces - the condo corporation will come back against the owner of the condo to pay for the damages. The condo-owners policy will only respond if it is insured on a Landlord form.

If you own a condo unit and are planning on renting it out, you should chat with your Surex insurance advisor about purchasing a landlord insurance policy.

You do not want to get stuck with condo insurance that provides unclear provisions on what is covered and what is not. Your condo insurance should provide coverage for:

  • The contents in your condo- All contents inside the condo including but not limited to electronics, furniture, and clothing are protected against perils such as theft, fire, explosions, and water damage caused by overflows and bursting pipes, up to the insured amount. Contents such as fur and jewellery will often have specific limits of coverage that can be increased for an additional premium. Also, be keen on other exclusions such as computers, cameras, and recording equipment, especially for people who work from home. 
  • Personal liability- Personal liability provides coverage for bodily injury to other parties such as visitors and neighbours. For instance, your visitor may trip over a rug and sustain injuries. Your bathtub may overflow and cause water damage to the apartment below, inflicting damage worth tens of thousands. This insurance will provide coverage for such unpleasant occurrences. 
  • Walls and floors- The condo owner is responsible for insuring their specific condo unit, including fixtures, floors, walls, ceilings and appliances.

You can reduce the cost of your condo insurance without increasing your deductible. Minimizing the probability of accidents from occurring is a clever way to reduce the cost of insurance. For instance, installing a fire alarm system and security system ultimately reduces the chances of fire-related accidents and theft.
These questions may seem complicated especially for a first-time homebuyer. To ensure you get your condo insurance needs right, always work with a reputable insurance provider or agent.

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