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
Are you a tenant renting a condo as an apartment? Check out our
If you’re renting out your condo to a tenant, take a look at our
Do I need condo insurance?
Your condo is your home sweet home. But, a condo owner has different insurance needs than a
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
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.
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 and furniture 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.
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.
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.
Additional condo insurance coverages
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. It also includes belongings in your condo’s basement storage unit. If you can’t get into your condo because the lobby or lower levels are affected, you’d also need sewer backup coverage so that extra living expenses (like living in a hotel during repairs) are covered. Coverage offered depends on eligibility.
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.
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 because of an earthquake, you’re also protected.
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, 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 restore your identity.
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:
We're here for you
Get top-quality care from our licensed insurance agents. With 24/7 claims support, you’ll experience a smooth process from start to finish.
You pick the coverage
Choose coverages that fit your needs and budget. Add identity theft or insure your high-value items and rest easy knowing you’re protected.
We've made it simple
It’s easy to get a quote and buy online. Plus, update your policy or start a claim through your online account. Email, chat or call us – we’re here to help.
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
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:
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. Click 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. That’s why we’ve made getting a
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.
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
Condo insurance isn’t just for protecting the stuff you own. It’s a good idea to understand
- 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.
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.
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.
Yes. As a condo owner, your Sonnet condo insurance policy covers you, your personal property and
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?
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.