Condo insurance in Alberta must have insurance protecting its corporation’s common property and condominium units against loss resulting from destruction or damage. The corporation must also have insurance against liabilities incurred by board members and the corporation itself in carrying out its duties.

A corporation can impose insurance requirements on owners, such as requiring owners to purchase insurance for deductibles that may be payable to a corporation. The corporation may also specify details of deductible insurance to purchase and the proof an owner must provide the corporation of purchased insurance.

Common Property

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The condominium corporation must have insurance in the amount of the replacement value of the insured property. The corporation must maintain insurance to protect common property against loss resulting from destruction or damage caused by various perils, such as fire, lightning, smoke, windstorm, hail, explosion, water damage, and more, as required by the condominium bylaws.

Condominium Units

The amount of Condo insurance in Alberta units depends on the type of unit. Condominium corporations must, at a minimum, place and maintain the following amount of insurance:

    • Residential units on the parcel owned by the developer: the replacement value of units and of the fixtures and finishing as they existed at the time of the condominium plan’s registration
    • Non-residential units on the parcel used in connection with a residential purpose (e.g., parking spaces and storage units for owners): the replacement value of the units and of the fixtures and finishing, as were typically provided to purchasers by a developer
    • All other non-residential units on the parcel: the replacement value of the units, excluding the replacement value of any fixtures and finishing in the unit
    • Units on the parcel owned by the corporation: the replacement value of the units and of the fixtures and finishing in the unit

Personal Home Insurance

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The corporation’s insurance does not protect your personal possessions or liability. You should always buy homeowner’s insurance to cover your personal possessions and liability. Unless the bylaws say otherwise, your condominium corporation’s insurance will not cover improvements made to your unit. An insurance broker will be able to review the condominium corporation’s insurance policy and advise you on which condominium homeowner’s insurance is best for your situation.

What happens if a condo corporation and owner place insurance on the same loss?

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If a condo corporation and owner both place insurance against a loss resulting from the destruction of/damage to units or the common property, then the corporation’s insurance is considered first loss insurance. The owner’s insurance is considered excess insurance.


In summary, condo insurance in Alberta is an important consideration for condominium owners. Condominium corporations have insurance requirements that must be met, and owners are responsible for obtaining personal insurance to protect their personal possessions and liability. It’s important to work with an insurance broker to ensure you have the right coverage for your situation.