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Rental Condominium Insurance

Insurance protection for people who own a rental condominium.

Why you need insurance

It is estimated that only 40% of condominium owners have the right insurance coverage. Condo insurance is complex because you have two insurance policies; one that’s arranged by the condo board (or ‘strata council’ in BC) that you pay for in your maintenance fees, and one that you need for yourself.

We’ve simplified the complex world of condo insurance because we believe it’s crucial that you have the right coverage. You need insurance coverage for any improvements to your unit, your property’s liability exposure, and rental income coverage. If you or your tenant is responsible for damage to other areas of the building, you may be liable to pay for the deductible on your building’s insurance policy. Depending on your building, the deductible could be between $5,000 and $200,000. We highly recommend that you ask your property manager or the condominium board what the building’s deductible is so you can buy the right level of protection.

It’s easy to protect your investment with us

This coverage is arranged by BFL CANADA, the distinguished experts in condominium insurance in Western Canada. We’ve collaborated with insurance companies and tailored an insurance package that offers rental condominium owners better coverage at competitive rates.

Here’s how you’re covered*

Contents & Improvements

This coverage protects any alterations and improvements made to the unit by yourself or previous owners; it also includes furniture and appliances. We provide $25,000 in the package which can be increased to suit your needs.

Rental Income

Coverage for loss of rental income in the event of an incident which forces your tenants from their home. Our package includes $54,000 annualized (which is $4,500 per month), and can be increased to suit your needs.

Deductible Assessment

Your building may have a large insurance deductible which can be assessed entirely to you if damage to the building originates in your unit. Contact your property manager or your condo board to find out what the highest deductible on your building’s insurance policy is. If the highest deductible on your building’s insurance policy is $50,000, you should purchase $50,000 of coverage (which is available here).

Contingent Coverage

You may need this coverage if you live in a building that:

  • Does not have insurance
  • Has insufficient insurance
  • Has ineffective insurance

Special Loss Assessment (Property and Liability)

This covers your portion of a loss that is greater than the condo corporation’s insurance policy limits. For example, if the condo corporation’s insurance limit is $1m and there is a loss of $1.2m, $200,000 may be assessed to unit owners.

General Liability

This protects you and your property management company (if applicable) from lawsuits arising out of property damage or bodily injury from the use of your unit.

Errors & Omissions

This coverage applies to professional property managers. It covers professional mistakes such as contract disputes or negligence.

Why Leo?

  • Instant policy documents to download
  • 24 hour claims support
  • Expert assistance from Leo

Excellent claims service

BFL CANADA employ a full-time claims department dedicated to client advocacy. As Western Canada’s leading condominium home insurance experts, our team is highly knowledgeable and experienced, handling over 1,500 claims each year. Here is what to expect:

  • New claims are assigned to an independent adjuster within one hour of your call.
  • Our independent adjusters will contact you within 24 hours of being assigned your claim.
  • Your BFL claims representative will call you back 48 hours later to ensure that you are satisfied with the progress.
  • Our claims representatives are always here to answer your questions and advocate on your behalf.

Rental Condominium Insurance is coming to Leo Insurance soon. To purchase this coverage today, please contact us


*Coverage is subject to Policy Terms, Conditions, Limitations, and Exclusions.