Who insures what?
What to do
before a loss?
What to do
after a loss?
In every case, have the damage to the common and private portions repaired
Submit a claim to its insurer
Apportion the cost of the damage among the co-owners if there is insufficient or no
insurance or it doesn’t submit a claim
Use the self-insurance fund to pay the deductible or repair the damage
PRIVATE AND COMMON PORTIONS
Examples: foundation, roof, floors, walls, ceilings of the common spaces and units
OBLIGATION TO PRESERVE
The syndicate must take all necessary measures to preserve the entire building (private and common portions).
Made by the co-owner
Obtain civil liability insurance ($1M or $2M, depending on the size of the co-ownership property)
Purchase coverage for the risks the co-ownership property is exposed to
Insure any improvements (what is not included in the DPP)
Cover the cost of the damage apportioned by the syndicate (if insufficient or no insurance). See loss assessment coverage
Have the improvements repaired
COLLABORATE WITH THE SYNDICATE
For the repair of the damaged portions
DESCRIPTION OF THE PRIVATE PORTIONS (DPP)
Describes the immovable portion of a reference condo unit. Anything not in the DPP is an improvement.
LOSS ASSESSMENT COVERAGE
Applies if the risk is covered by the co-owner’s policy.