Syndicate insurance

Your building’s syndicate must by law have insurance against the usual perils and for civil liability.

Syndicate’s contract

More specifically, the syndicate’s insurance is a commercial insurance contract and must also cover:

- Its civil liability (mandatory)
The syndicate is also required to hold civil liability coverage under its insurance contract:

• For its board of directors;
• The chair and secretary of the general meeting of the co-owners; and
• The manager and other individuals responsible for ensuring the sound operations (janitor or individual responsible for maintenance, etc)

- The building itself
It includes the common portions, as well as the common portions for exclusive use, such as the hallways, corridors, stairs, elevators or roof;

- The private portions
i.e., the building portion of each condo unit, namely the plans and specifications of a reference unit, such as:

• Walls, floors or windows, and plans and specifications for such elements as kitchen cupboards or baths;
• All these elements are listed in the description of the private portions, which the syndicate must provide to the co-owners.

- The property which belongs to it
such as the furniture in the common portions (benches, pool, gym equipment, etc.)

To ensure the sound management of the co-ownership, more specifically by preventing damage and ensuring appropriate maintenance of the building, the co-ownership syndicate must:

• Be able to provide the Declaration of co-ownership and the description of the private portions;
• Keep a maintenance record;
• Plan and manage a contingency fund sufficient for major work and a self-insurance fund to meets all eventualities in case of a major claim;
• Keep an up-to-date register of work carried out;
• Have adequate co-ownership syndicate insurance.

Your syndicate is therefore responsible for insuring the co-ownership building against the usual perils (fire, theft, vandalism, etc.), as well as for everything listed in the declaration of co-ownership.

If the syndicate does not have the coverage required, it must still repair the damage following a claim.

How much insurance must be purchased?

The syndicate must have insurance that corresponds to the value of the entire building, with the exception of improvements. In addition, this amount must be evaluated at least every five years.

Chartered appraiser: a new obligation

Since April 15, 2021, only a member of the Ordre professionnel des évaluateurs agréés du Québec (OEAQ) can evaluate the amount of insurance the co-ownership syndicate must have to rebuild the building.