Condo insurance: Get a quote and buy online
With Sonnet, saving money on condo insurance is easy. We’ve got you covered for your condo unit and everything in it. We offer competitive rates, special discounts and 24/7 claim support for condo owner insurance. Unlock your savings today!
Get a condo insurance quote and buy online in minutes
Whether it’s a high-rise apartment in Toronto or a condo townhouse in Calgary, you need the right insurance for a condo unit. Condo owners in Alberta, B.C., Ontario, Québec, New Brunswick, Nova Scotia or P.E.I., can buy a policy with Sonnet in just a few clicks. We’ve made condo owner insurance easy to understand, so you can spend more time doing what you love.
Are you a tenant renting a condo as an apartment? Check out our tenant insurance.
If you’re renting out your condo to a tenant, take a look at our landlord insurance.
Do I need condo insurance?
Your condo is your home sweet home. But, a condo owner has different insurance needs than a homeowner. Your condo corporation has insurance for the building and its common areas. You’ll need to get your own condo insurance policy to protect yourself and the things inside your unit.
What is condo insurance? Coverage explained
Living in Canada, you need to protect your condo or condo townhouse, its contents and yourself with condo insurance. Although policies can differ, here are some of the common coverages you get with insurance for a condo. Don’t forget to review your policy to learn how you’re covered (and where you aren’t).
Standard condo insurance coverages
Liability Insurance
Protect yourself and the people in your home in case you’re sued. With personal liability coverage, you’re covered if someone gets hurt while visiting or for damage you may unintentionally cause.
Personal Belongings
Often called condo contents insurance, this protects property you own that you could pack in a bag or put in a moving truck. Things like your clothing, electronics, furniture, etc. are covered while they’re on your property, or temporarily removed (like when you’re travelling to work – or out of the country). Just keep in mind, if you’re renting out your condo, only some contents will be covered. For example, major appliances are covered for theft.
Extra Expenses
If you can’t live in your condo during repairs from a claim – you’re covered. You can choose to stay in a hotel or with friends and family. We’ll help cover your extra living expenses either way. Renting out your condo at the time of loss? You’ll be covered for your net rental income until your tenants can move back in.
Condo Special Coverages
This includes three extra protections:
- Unit Improvements Coverage
Have you been making improvements or upgrades to your unit – like installing special lighting or customized closets? Don’t worry, they’re covered.
- Unit Contingency Coverage
This coverage protects you if your condo corporation’s insurance isn’t enough to take care of damages to your unit, that would normally be its responsibility to repair or replace.
- Property Loss Assessment Coverage
Your condo corporation could require its members to collectively pay for any damage to common areas (like the lobby or elevators). This coverage will pay for your share.
Identity Theft
This covers you and anyone else on your policy in case your identity is stolen. We’ll reimburse you for legal fees as well as certain other costs that could happen, up to a limit. These could include lost wages if you have to take time off work to sort it out, and payment for services that help you get back to where you need to be.
Additional condo insurance coverages
Sewer Backup
This coverage can help in some smelly situations. Your unit and belongings would be covered for damage caused by sewage that backs up in your unit through a sump, septic tank or floor drain. Any belongings in your condo’s basement storage unit would also be covered. Or, if you can’t get into your condo because the lobby or lower levels are affected, you’d need Sewer Backup so that additional living expenses (like living in a hotel during repairs) are covered. Coverage offered depends on eligibility.
Overland Water
You’re covered for damage caused by fresh water, such as excessive rain, spring run-off and melting snow, coming in at ground level through windows and doors. If you can’t get to your unit due to an overland water flood in your condo’s lobby or lower levels, you’d need this coverage to get help with extra living expenses (like living in a hotel). It also includes belongings kept in your condo’s basement storage unit that are damaged. Coverage offered depends on eligibility.
Earthquake Coverage
In Canada, the coast of British Columbia and the St. Lawrence and Ottawa River valleys are prone to earthquakes. This optional coverage covers you in the event of loss or damage arising directly or indirectly from an earthquake. If a snowslide, a landslide, or other earth movements cause damage to your property as a result of an earthquake, you’re also protected.
Why buy condo insurance with Sonnet?
We’re Canada’s first fully online home and auto insurance company. With us, you can quote, purchase and manage your policy entirely online. Here’s why else we think you’ll love being insured with Sonnet:
Above and Beyond
First claim forgiveness, replacement cost guarantee and enhanced deductible waiver are all extra perks of our Above and Beyond coverage.
Live in it or rent it out
We’ve kept things simple. Whether you call your condo home or rent it to tenants, we'll provide the coverage you need.
Customer satisfaction
Online doesn’t have to mean on-your-own. Our licensed Insurance Agents are here to help. Email, chat or call our fully-licensed agents and experience our top-quality customer care for yourself.
Save on more than just insurance
How much is condo insurance in Canada?
$520/year is the median cost of condo insurance with Sonnet in Canada. Get condo owner insurance for around the same price as a yearly gym membership.
How is my condo insurance quote calculated?
The price you pay for condo owner insurance is based on several things. This includes details like the location of your condo, how much coverage you need and your personal claims history.
How can I save on my condo insurance?
At Sonnet, we combine your unique information with a whole lot of math and analytics to build our best price just for you – savings automatically included. Here are a few ways you could save on your condominium insurance:
Claims free
No claims in the last 5 years? This could mean extra cash in your pocket.
Multi-location
Insuring more than one property could qualify you for a multi-location saving.
Bundle home and auto
Bundling your home insurance and car insurance could mean up to 20% savings for you.
Canadian University & College grad discount
Get a juicy discount if you’re a graduate or a student of an eligible Canadian University or College.
Employee and Group discounts!
We are partnered with more than 2,000 organizations! You can save if you’re a member of an eligible association, an affinity partner, or an employee or retiree of a sponsored company.
Get more with Sonnet Connect
Join Sonnet Connect to take advantage of exclusive discounts, promotions, and free offers
How to get condo insurance
Getting insurance for a condo with Sonnet is simple! Quote and buy condo insurance online in minutes. Follow these easy steps.
Step 1: Get a condominium insurance quote. Press “Get a Quote” and select the “Home” icon to start the process. On the first page, select the province you live in.
Step 2: Enter your property info and personal details. Under property type, choose “condo”. Then, indicate the type of ownership and enter your address. Continue by entering your name and birthday.
Step 3: Select the coverage start date. Decide when your insurance should start, this should be your move-in day. If you’re switching from another insurance provider, choose the date you want the new coverage to begin.
Step 4: Check for group discounts! Sign up for any eligible savings. We offer juicy insurance discounts for Canadian University and College graduates, select employer groups, unions, associations, and more.
Step 5: View and customize your quote. You’re almost done! Take a closer look to ensure all the information in your quote is accurate. Want to personalize your coverage? Click “View and customize” for more.
Step 6: Buy or save your quote for later. Ready to go? Click “Buy now” to get your condo insurance coverage. Need to think about it? Save your quote and we’ll email it to you. Your quoted price will be saved for 45 days if there aren’t changes to the options you chose and info you’ve provided.
Questions about condominium insurance? We’ve got you covered
Insuring your condo should be simple. We’ve made getting a condo insurance quote quick and easy – plus, we’re here to help from start to finish. Read through our current blogs or most frequently asked questions about condominium insurance to get started.
What is Above and Beyond home coverage?
If you upgrade your Custom Limits for your special belongings, you’ll receive our Above and Beyond home coverage, which adds three extra perks to your policy:
First Claim Forgiveness. This means your rate won’t increase after your first claim. We’ll pretend it didn’t even happen.
Replacement Cost Guarantee. You’ll have the flexibility to settle claims at replacement cost, even if you decide not to repair or replace the damaged items.
Enhanced Deductible Waiver. We’ll waive your deductible for claims of $10,000 or more. Sorry, this doesn’t include claims caused by earthquakes.
Heads up! These perks cannot be added to a tenant or landlord policy.
Is water damage covered by condo insurance?
Condo insurance covers certain types of water damage that are caused by sudden or accidental events. For example, you’d be covered if your bathroom pipes burst or your dishwasher leaked all over the kitchen floor.
There are two types of water damage that aren’t included in a standard policy – Sewer Backup and Overland Water. You might be able to add them to your condo insurance policy, depending on where you live.
Does my Sonnet policy cover me for short-term rentals or home sharing through networks like Airbnb?
No. Sonnet doesn’t cover short-term rentals through any home sharing service, including Airbnb and Vrbo. This applies to all our property policies ¬(homeowners, condo, and landlord). Under the terms of our renters insurance, tenants also aren’t allowed to offer short-term rentals of their apartment or house – or a room in their unit – through one of these networks.
If you’re offering short-term rentals via one of these services and something happens where you need to file a claim, your claim could be denied.
Want to know more about how Sonnet covers long-term rentals? Check out our FAQ about renting out your home, condo, or rental property. Or, contact us! We’re here to help.
What are some condo coverages I should know about?
Condo insurance isn’t just for protecting the stuff you own. It’s a good idea to understand what your condo corporation’s policy will cover so you know what protection you need. A condo owner insurance policy also helps you in a few special situations.
- If you’ve made upgrades to your unit – like hardwood flooring or fancy built-ins – these would be covered when you make a claim.
- You’re protected if your condo corporation doesn't have enough insurance to fix damage to your unit. That is, damage that would be their responsibility. For example, if a lobby fire damaged your unit.
- Sometimes a condo corporation makes condo owners pay to fix a shared space. Your condo policy would pay for your share of the repairs, so you don't have to worry about it.
You might want to add more coverage that isn’t included in a standard policy. We offer extra coverages like Hail, Sewer Backup, Overland Water and Earthquake. You can add these coverages during a condo insurance quote. It'll depend on where you live and if you're eligible.
Already purchased? You can add these coverages at any time through your account.
How are condo insurance premiums calculated?
When your condo insurance is calculated, insurance companies look at a complex set of factors. These will determine how likely you are to make a claim – and how much a claim could cost. The higher the likelihood is, the higher your premium will be.
Factors that can affect your home insurance premium include:
- Your condo’s location
Based on your postal code, an insurer can find out how many claims are made in that area – and why they happen. For example, if your area has frequent flooding or a lot of crime, there could be more claims for damage. This could cause your condo premium to be higher. - Condo age and condition
The older the building, the higher the chance of a claim. That’s because things like old wiring are a bigger risk for fire. And, old plumbing increases your risk of claims due to sudden leaks or burst pipes. - The value of your contents
Think about how much it would cost to replace your stuff after a fire or break-in. If you have a lot of items (or some very expensive ones), you’ll likely pay more for condo contents insurance. - Condo security
A person living in a high-rise condo with on-site security will typically have a lower insurance rate than someone in a condo townhome that’s accessible from the street. - Number of past claims
The longer you’ve been claims-free, the lower your premium will be. If you’ve had a claim in the last year, you can expect your premium to go up at renewal. - Your age and other information about you
As you get older, your premium will tend to decrease. The fact is, many insurance providers consider condo owners with more experience as less risky to insure. Some insurers could also look at your credit score.
Do I need condo insurance in Canada?
Condo insurance is highly recommended in Canada! And, your condo corporation might require you to have it. If you don’t have condo insurance and something happens to your place (like a fire or a leaky pipe), you’d have to pay to fix any damage on your own.
It also gets expensive to replace all your stuff out of pocket if items get wrecked or stolen. Think of everything you own – your fridge, couch, laptop, clothes – the costs add up quickly. That’s why you need insurance for a condo – to protect everything in your unit!
On top of all that, mortgage lenders usually require that you have condo owner insurance in order to get a mortgage.
Does my condo insurance cover appliances?
Yes. As a condo owner, your Sonnet condo insurance policy covers you, your personal property and belongings, and your liability. Because appliances fall under personal property, they’re covered by your condo policy if a covered event (like an accidental house fire) happens.
Heads up! Are you a tenant renting a condo from someone else? If so, your landlord’s insurance will generally cover the appliances, since they’re the owners – not you (unless you’ve bought them yourself).
Need more answers about condo insurance? Get in touch via email or chat. Our agents are always happy to help!
Does my townhouse need a condo or a home policy?
Wondering if your townhome needs a condo or a homeowners policy? There are a couple of questions that help with this:
- Do you have a Condo Corporation?
- If something were to happen to the outside of your home, such as to your roof, are you responsible for repairing it?
If you answered yes to the first question and no to the second, then a condo policy would best fit your needs.