Compare Condo Insurance Quotes Online

See Your Cheapest Condo Insurance Quotes in Just 1 Minute!

Compare Rates from 25+ Canada's Condo insurance companies

AIG Insurance Aviva Insurance Economical Insurance Intact Insurance Northbridge Insurance RSA Insurance Travelers Insurance Wawanesa Insurance Gore Mutual Insurance Hagerty Insurance

Condo insurance in Ontario


 

While your condo building is protected by the condominium corporation, there are aspects of the coverage that are lacking. Some damages are not part of the corporation’s policy. For example, flood damage, break-ins, and an injury occurrence in your unit can all leave you unprotected by the condominium corporation insurance. Additionally, customers also assume the cost for vandalism and smoke damage

These costs can quickly mount, covering legal liabilities, repairs, and relocation. With this in mind, condo insurance is essential for condo owners and is the perfect accompaniment for coverage provided by the condominium corporation. Condo insurance covers your personal property and the interior of the unit.

Liability protection is a benefit that covers bodily injury and property damage to third parties. ShopInsuraceCanada.ca helps you compare condo insurance quote across a breadth of Canada’s leading insurance providers.

Get The Cheapest condo insurance quote online


Affordable

Why should you pay over the odds for condo insurance? By shopping for quotes online, you guarantee yourself the best possible price for the coverage you want.

Fast

The ShopInsuranceCanada.ca quote tool is very fast and easy to use. You can get the best insurance quotes within minutes.

Free

Importantly, there is no cost to use our tool, and there is certainly no obligation to buy coverage from any of the insurance quotes we present.

Easy

We pride ourselves on having an efficient quote tool. By using an easy-to-use system of drop down menus, you can race through the process and not need to worry about being confused.

Unbiased

Our team works for the customers and not insurance companies. We have no obligation to any company, allowing us to find you’re the best quote from a range of the top providers in Canada.

Secure

We ask for the details that are relevant to your policy and nothingmore. ShopInsuranceCanada.ca does not share user data with third parties.

Condo insurance details


 

It is important to know what condo insurance options there are, and what limitations are in place. For example, standard policies do not cover high-value items, like rare art, precious jewellery, and more. These items need to be covered under a separate policy, or to be listed individually on a standard policy at an additional cost.

There are two main types of condo insurance:

All perils coverage: covers belongings against numerous types of danger. Any exclusions are listed on the policy. All perils is the most expensive condo insurance type, because it protects against a wider range of hazards.

Named perils coverage: Named perils coverage only protects your belongings against the most common types of hazards, which will be clearly listed in your policy.

Actual cash value or replacement cost?

An actual cash value (ACV) plan will pay out the value of items at the time they were damaged (and the claim was made). However, an ACV plan will assess value with depreciation as a factor, which means the pay-out for the claim is unlikely to cover the total cost of lost or damaged items. For example, if a three-year old TV is lost, the insurer will pay out for what it is worth now, not its cost as new. This is unlikely to cover the price of buying a new TV.

Replacement cost plans do cover full reimbursement for the full value of lost or damaged items. Using the TV example, the insurer would replace the TV for one that is of same make and quality (if possible), which means with a good replacement cost plan, customers can get all their lost or damaged items fully replaced.

Condo Insurance Premium By Province


 Manitoba

 Newfoundland and Labrador

 Nunavut

 Northwest Territories

 Saskatchewan

 New Brunswick

 Yukon

 Nova Scotia

 Prince Edward Island

Insurance News

Canadian brokers amongst most stressed workers

By: , published on

The stresses of the insurance business are affecting Canadians in the industry. A TD Bank Group survey released last Thursday suggests two-thirds (66%) of working Canadians feel moderate to high stress from their jobs. However, the situation is worse in insurance, where three quarters (76%) report

ShopInsuranceCompany.ca

Category: News

IBAC welcomes continued separation of banks and insurers

By: , published on

The federal government is seeking to keep banks and insurance separate through Bill C-74, and the Insurance Brokers Association of Canada (IBAC) welcomes the clear restrictions proposed. However, the association wants the bill to go further and ensure separation continues for the foreseeable

ShopInsuranceCompany.ca

Category: News

Real-time data transfer between clients, brokers and insurers already underway

By: , published on

Technology is having many impact on the insurance industry, both innovative positives and disruptors. One of the potential positives of the digital transformation will be more efficient inter-communications between insurers, brokers, and customers. Real-time data exchanges is on the horizon

ShopInsuranceCompany.ca

Category: News

Read More

Welcome to Canada’s Authoritative Source for Insurance News, Information & Rates.

Copyright 2017 ShopInsuranceCanada ShopInsuranceCanada | 1003-60 Bathurst St. Toronto, ON M5V 2P4 Canada | 416-913-0151 | Privacy Policy | Terms & Conditions