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macker · 10-26-2012, 11:58 PM

^Think Scotiabank Insurance is "The Personal"

TD Melloche can be fussy in this way and if you don't fit their business box they will find reasons to stear you elsewhere. Not unlike the way they handle commercial risks as they send them elsewhere. I would think that if you call back and have supporting business with them there should be no reason that they won't offer you condo insurance.

Not something you want to ignore though as there are many benefits to condo insurance and the premiums are minimal. Your condo fees can often be covered as part of your loss of use and I have even heard of some companies covering gym/pool membership fees in certain situations. Also your impovements and betterments need to be covered and could include new flooring, cupboards, carpeting, bathroom fixtures, wall coverings and lighting fixtures. Loss assessment will pay your unit owners share of any special assessment if the assessment is made by a direct loss to the condo element. Includes assessment due to deductible in the condo corporation policy. The condo corp deductibles are typically outrageous and this pushes things back to the unit owner. Example : to rebuild the Millrise condos due to the fire each tenant could have been assessed $28,000 for th loss assessment if they would have rebuilt all four levels instead of just knocking down and rebuilding the top two levels. This is to cover the common areas. Oh, and $1,000,000 personal legal liability worldwide is thrown in.

10-26-2012, 11:58 PM	#20
macker First Line Centre Join Date: Apr 2007 Exp:	^Think Scotiabank Insurance is "The Personal" TD Melloche can be fussy in this way and if you don't fit their business box they will find reasons to stear you elsewhere. Not unlike the way they handle commercial risks as they send them elsewhere. I would think that if you call back and have supporting business with them there should be no reason that they won't offer you condo insurance. Not something you want to ignore though as there are many benefits to condo insurance and the premiums are minimal. Your condo fees can often be covered as part of your loss of use and I have even heard of some companies covering gym/pool membership fees in certain situations. Also your impovements and betterments need to be covered and could include new flooring, cupboards, carpeting, bathroom fixtures, wall coverings and lighting fixtures. Loss assessment will pay your unit owners share of any special assessment if the assessment is made by a direct loss to the condo element. Includes assessment due to deductible in the condo corporation policy. The condo corp deductibles are typically outrageous and this pushes things back to the unit owner. Example : to rebuild the Millrise condos due to the fire each tenant could have been assessed $28,000 for th loss assessment if they would have rebuilt all four levels instead of just knocking down and rebuilding the top two levels. This is to cover the common areas. Oh, and $1,000,000 personal legal liability worldwide is thrown in. Last edited by macker; 10-27-2012 at 12:01 AM.