Condo insurance question (QC)
From what I understand after dealing with the insurance so far, our personal insurance would cover any personal items and improvements, while the condo insurance would be responsible for any structural repairs.
The deductible for water damage for the condo insurance is $10k. My question is: are we responsible for that deductible, or would it be split between all the townhouses? From what I understand, the condo is obliged to have a $2500 fund for insurance deductible purposes. I'm just not sure how it works.