Article 1073 requires the syndicate to take out, with a reasonable deductible, insurance against ordinary risks (such as theft and fire) covering the whole immovable, except improvements made by a co-owner to their portion. The amount insured must correspond to the reconstruction value, re-evaluated at least every five years.
The syndicate must also carry civil liability insurance, covering in particular the directors, the manager and the officers of the meeting.
The re-evaluation of the reconstruction value, at least every five years, must be done by a member of a designated professional order: this is a reserved act CondoAide does not produce.
This regime comes from Bill 141 (2018). CondoAide keeps insurance contracts and certificates, and the evaluations received, in the register.
Manage your co-ownership with confidence
CondoAide helps self-managed Quebec syndicates keep their register, finances and meetings aligned with the Civil Code.