After purchasing a condo, you are required to pay into a Condo Corporation’s insurance policy. This insurance policy covers the main structure of your condo as well as the common areas but it may not provide the detailed and customizable coverage you actually seek. Besides, it covers your condo up to a certain amount. What if you make improvement in your condo that exceeds the limit or amount covered? You will need an additional coverage to complement the corporation’s insurance coverage. That is exactly where TD condo insurance comes in.
Your personal condo insurance provides a wide range of coverage that covers your investment in case of an upgrade, your condo in case it is not fully covered by the condo corporation’s insurance, your shared responsibility for common areas if you are held responsible for any major repairs, and personal liability in case someone is hurt when visiting your condo.
The TD Condo Insurance Coverage Designed For You
TD offers three condo insurance plans, namely, the gold, platinum, and platinum plus plans. The three plans cover all risks for your contents and provide 100% of the insured amount for your contents outside of your residence. However, only platinum and platinum plus cover the mysterious disappearance of specialty items. You can save on your coverage if you install an approved security system, remote fire detection system, or remain claims-free for five years.