Condo insurance powered by HomeProtect™ British Columbia

Condo insurance isn’t required by law in British Columbia, but most mortgage lenders and strata corporations make it a condition of ownership. Lenders want to ensure their investment is protected, while stratas often require proof of insurance before you move in. Even if it’s not mandatory for you, condo insurance is essential. It covers your personal belongings, interior upgrades, and liability exposure, which aren’t included in your strata’s master policy. Without it, you could face large out-of-pocket costs for losses or damage inside your unit. 

A standard condo insurance policy protects the parts of your unit that belong to you, plus your personal property and liability. It covers damage to your unit’s interior, such as walls, flooring, and fixtures, caused by insured events like fire, water leaks, vandalism, or wind. Your policy also replaces stolen or damaged belongings and provides liability protection if someone is injured in your unit or you accidentally cause damage to another unit. It often includes loss assessment coverage too, helping pay your share of a claim when your strata’s insurance isn’t enough to cover building or common-area damage. 

The main difference is ownership. Home insurance covers the entire property and building structure, while condo insurance covers the interior of your unit and your contents. Your strata’s master policy typically insures the building’s structure and common areas, but it won’t cover what’s inside your unit. Condo insurance bridges that gap. It also includes protection for unit improvements and contingency coverage, which ensures your original unit finishes are covered if your strata’s policy falls short. 

Most condo insurance policies in BC cover sudden and accidental water damage, such as a burst pipe or an overflowing appliance. Overland water, exterior drainage, interior drainage, and sewer backups are always included in a quote from Westland. Water damage is the most common condo insurance claim in BC, particularly in large multi-unit buildings where one leak can affect several homes. 

Loss assessment coverage helps protect you from unexpected expenses if your strata corporation’s insurance doesn’t fully cover damage to the building or shared property. For example, if a fire damages a hallway or roof and the strata’s policy has a large deductible, you could be responsible for a portion of the cost. This coverage steps in to pay your share of those assessments, saving you from potentially paying thousands of dollars out of pocket. With strata deductibles in BC reaching into the tens or even hundreds of thousands, this coverage is becoming increasingly important. 

If you rent out your condo, whether short-term through Airbnb or long-term to tenants, you’ll need to inform your insurer. Standard condo insurance usually only applies to owner-occupied units. Renting introduces new risks, including damage caused by tenants or liability issues involving guests. You can add a rented condo endorsement or landlord coverage to protect your unit and belongings, as well as cover loss of rental income after a covered claim. This ensures your insurance remains valid and responds when you need it most. 

The cost of condo insurance in BC varies depending on your building’s location, age, and construction type, along with your personal coverage limits and deductible. On average, condo owners in BC pay between $450 and $700 per year. Premiums are generally higher for buildings with large strata deductibles, previous claims, or water damage risks. Working with a broker like Westland helps you find the right balance of coverage and value for your specific building and budget. 

No, your strata’s master policy covers the building’s common areas, shared structures, and the original unit finishes, but not your personal contents, appliances (washer/dryer, microwave, stove, dishwasher) or any upgrades you’ve made. That means new flooring, custom cabinetry, or other improvements are your responsibility to insure. Your own condo policy also protects against liability claims and provides additional living expenses if your unit becomes uninhabitable after a covered loss, none of which are included in your strata’s insurance. 

Because every condo is different, optional coverages help tailor your protection. Earthquake coverage is highly recommended for BC residents, especially in coastal and southern regions. You can also add personal cyber protection for digital risks like identity theft and scheduled articles coverage for valuable possessions such as jewelry or art. These add-ons help close the coverage gaps that standard policies may not address. We always recommend increased additional living expense benefit, as it’s the most common coverage to be exhausted in the event of a total loss. 

If something happens to your condo, whether it’s water damage, theft, or a fire, start by making sure everyone is safe and the immediate risk is addressed. Then, document the damage thoroughly with photos or videos and keep any receipts for emergency repairs or temporary expenses. Contact your Westland advisor as soon as possible to report the incident. Our team will guide you through the next steps, help you complete the claim, and coordinate directly with your insurer. If your claim involves your strata corporation, we’ll work alongside them to ensure everything is handled smoothly. With local expertise and dedicated claims support, Westland makes the process as stress-free as possible so you can get back to your home with confidence. 

HomeProtect is Westland Insurance’s approach to home insurance in British Columbia, including coverage tailored specifically for condo owners. It’s designed in BC, for BC homes, and takes into account how condos are built, managed, and lived in across the province, from high-rise buildings to townhouse-style strata communities.

What makes HomeProtect different is the combination of locally designed coverage and real, personal guidance. Westland advisors take the time to help you understand how your condo insurance works alongside your strata’s master policy, so you know what’s covered, where gaps can exist, and which options make sense for your unit and lifestyle. With more than 90 branches across BC, you’ll work with someone who understands your building, your community, and the risks that come with shared living. And if something goes wrong, our in-house claims team provides hands-on support throughout the process, keeping you informed and paying out on 96.3% of claims.