Standard Insurable Unit
Description Solutions
Standard Insurable Unit Description Solutions
Standard insurable unit descriptions (SIUD) are required under the Alberta Condominium Property Amendment Act.
The SIUD is a detailed outline of all the finishes and fixtures within a standard unit based on original construction. The purpose of a standard insurable unit description is to provide clarity for condominium boards and insurers as to what is covered under the corporation's insurance following an insurable loss.
What's Included?
The outline should include the following fixtures and finishings:
- Floor coverings, wall coverings and ceiling coverings
- Electrical lines and fixtures, including lighting fixtures
- Plumbing lines and fixtures
- Natural gas lines and fixtures
- Fixtures with respect to air exchange and temperature control
- Walls that do not form the unit's boundaries, and any windows and doors located in those walls
- Cabinets and counter tops
- Non-chattel appliances
Various Class Types
Unit classes are defined by the various finishes and fixtures used by the developer. When there is more than one type of standard finish, there would be more than one class type.
An example of a condominium with more than one class type would be a development that has both apartments and townhomes. Another example would be a high-rise building with both standard apartments and luxury penthouse suites.
A separate outline is required for each class type and each outline must also state which units fall under which class.
Normac can help you determine how many class types are present and create all necessary outlines.
Various Class Types
Unit classes are defined by the various finishes and fixtures used by the developer. When there is more than one type of standard finish, there would be more than one class type.
An example of a condominium with more than one class type would be a development that has both apartments and townhomes. Another example would be a high-rise building with both standard apartments and luxury penthouse suites.
A separate outline is required for each class type and each outline must also state which units fall under which class.
Normac can help you determine how many class types are present and create all necessary outlines.
The SIUD Process
If a standard insurable unit description has not been provided to owners by a developer, the corporation may obtain one through a professional firm, like Normac.
Request + Approve Quote
Complete Questionnaire
Prepare Outline For Review
Approve or Revise Outline
Corporation Vote + Add to Bylaws
Register at Land Titles Office
Request + Approve Quote
Complete Questionnaire
Prepare Outline For Review
Approve or Revise Outline
Corporation Vote + Add to Bylaws
Register at Land Titles Office
We offer complimentary SIUD outlines with the authorization of a new insurance appraisal program.
Experience the Normac Difference
We offer complimentary SIUD outlines with the authorization of a new insurance appraisal program.