Condo Chat: Understanding Condominium Insurance: What Every Owner Should Know

This session provides a clear and practical overview of condominium insurance — breaking down what’s covered by the Corporation’s policy versus the Unit Owner’s policy. We’ll explore common myths and facts, outline responsibilities when damage occurs, and explain key terms like “betterments” and “Standard Insurable Unit Description.” Participants will also learn what questions to ask their broker, how to navigate insurance changes and regulations, and what to consider when dealing with short-term rentals or solar installations. By the end, you’ll know exactly where your responsibilities begin and end — helping you avoid costly misunderstandings and ensure proper coverage.

• What does the Corporation's policy insure?
• Myths & Facts
• What is insured on a "Unit Owner's" Policy?
• When talking to your broker......things to discuss
• Unit Owner Improvements and Betterments and relation to Standard Insurable Unit Description
• Who's responsible when there is damage?
• Damage vs. maintenance
• What should you do when there is damage?
• Changes to the regulations
• Short term rentals - do you need additional insurance?
• Solar panels - things to consider

Abour Our Speak: Sherry Bignell

SHERRY BIGNELL is a Partner, Team Lead and Client Executive in the Calgary office of BFL CANADA Insurance Services Inc. Sherry joined BFL in June 2013 and as a senior member of the Calgary team at BFL, she is responsible for the servicing of clients as well as producing business.

With over 30 years of her career dedicated to the insurance industry, her specialty is in Condominium Corporations. She has a strong background in building client relationships, client servicing, Education for Boards, Owners and Condominium Managers, claims management and risk management.

Sherry served on the CCI Southern Alberta Executive from 2022 to 2024. Sherry was on the COF education committee from 2021 to 2023, and she taught the insurance section of the CCI Southern Alberta CM200 and 300 courses for many years. Sherry has earned her CIP and CAIB designations.

Our Sponsor: BFL Canada