Tenant & Condo
Even if you don’t own what you call home, you still need protection.
Crossroads Insurance offers tenant and condominium policies at competitive prices. Our insurance companies provide excellent coverage for individuals who need to protect their contents and liability exposures and, for condo owners, their interest in the building they occupy. We provide both Comprehensive and Broad policies, with premiums that reflect your coverage needs.
The companies that we represent also offer discounts, including:
- Non-smokers
- Mortgage free (condos only)
- Claims free
- Stability
- Monitored alarm
- Mature citizen
Contact one of our offices for more information.
Commonly asked questions (FAQs)
- What is the difference between Broad and Comprehensive coverage?
A Broad form policy traditionally covers thirteen perils, including fire, smoke, windstorm, hail, theft, vandalism, glass breakage and water damage. A Comprehensive policy offers two coverages in addition to those provided under a Broad form policy, namely mysterious disappearance (ex. Lost luggage) and accidental spillage or breakage (ex. Spilled paint).
- How do you determine my premium?
Your premium is based on the amount of contents coverage you require. We recommend doing an inventory of all of your personal property to determine how much coverage you need. Make sure you purchase insurance based on the current replacement cost of your property, not its market value.
- What is Loss Assessment coverage?
This coverage pays your portion of an assessment against you by the Condominium Corporation, made necessary by an insured peril, proportional to your contents limit.
- What is Unit Additional Protection?
This coverage insures your unit (note: coverage is proportional to your contents limit), less any improvements or betterments, in the event that the Condominium Corporation has no insurance or if it is not effective. In light of this possibility, we also recommend that condo owners obtain a copy of the Condominium Corporation’s master policy each year to ensure it is in force.
- What is Improvements and Betterments coverage?
This coverage insures any improvements and betterments to the unit made or acquired by you or any previous owner. We recommend condo owners verify what is covered under the Condominium Corporation’s master policy, so that they can be sure that all upgrades are insured. This coverage is also proportional to the amount of contents coverage purchased.
- What are Special Limits?
Special Limits are categories of property to which standard limits of coverage are in place. Examples of property with special limits are jewelry, furs, bicycles and business property. Limits of insurance on such items vary by company and in some cases by policy. Coverage can be extended for an additional premium. Each company’s wording booklet details the items and limits that apply, or contact our office for more information.
- Am I covered for sewer back-up?
Sewer back-up is only covered if you purchase additional coverage for these specific losses. Such insurance normally costs $50-80 per $5,000 of coverage, and may be available in higher limits if the home has a backwater valve and/or a sump pump. It may not be available in all areas, so please call one of our offices for details.
- Is a home business covered under property insurance policies?
If there is a business or office in your home, the insurance company must be made aware of it. Coverage usually needs to be added separately and is subject to different guidelines than property insurance.
- Why has my premium increased?
Inflation applies to the insurance industry as it does to all others. As a result, the insurance company automatically increases coverage to keep you properly insured, and they evaluate rates each year to keep up with any changes.
- What do I need to do when traveling during the heating season?
If you are away during the heating season, have a competent person check your home daily. Water damage from frozen pipes is not covered if the residence is left unsupervised. As well, if it will be vacant or unoccupied for more than 30 days we must be notified. Without proper notification, your policy will be invalidated in the event of a claim. While this may seem less likely in an apartment or condominium building, making these arrangements is often still necessary.
- I have paid off my mortgage. How do I have the mortgagee removed from my policy?
We require a written Release of Interest from the mortgagee in order to remove them from your policy. This document can be obtained from the bank or your lawyer.
- How do I have someone removed from my policy?
If you previously shared the policy with another person and they no longer require it, you must have them sign a Release of Interest form (see below) in order to have them removed. In extenuating circumstances, contact our office.
- I have a roommate/renter/boarder. Are they covered under my policy?
No. Coverage is only provided for the named insured, their spouse and any dependants. Tenants and other individuals should obtain their own contents policy. While coverage may be extended to include other persons, it is usually at an additional cost and is not recommended.
- I am doing or planning to do renovations to my home. What do you need to know?
Insurance companies rely on current and correct information to provide you with the proper coverage. When doing renovations or upgrades, they may need to be notified so that the changes can be made. Contact our office so that we can ensure there are no gaps in coverage as a result.
Printable Forms
Consent & disclosure (MS Word version) (Adobe Acrobat version)
Sewer Back-up Questionnaire (MS Word version) (Adobe Acrobat version)
Boat & motor Questionnaire (MS Word version) (Adobe Acrobat version)
Amendment form (MS Word version) (Adobe Acrobat version)
Personal property inventory checklist (Adobe Acrobat version)
Release of Interest (MS Word version) (Adobe Acrobat version)
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