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, BC, Ontario, Québec, New Brunswick, Nova Scotia or PEI, 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.
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:
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 quote quick and easy. Check out our blogs and frequently asked questions (FAQs) and learn more about condo insurance.
Blogs
- At home
Condo Insurance 101: What’s covered and what’s not
While a home would have a single policy to cover everything, your condo has two different policies that provide different types of coverage. Confused already? Don’t worry, we’ll break it down for you.
- At home
Condo insurance vs. building insurance – everything you need to know
There are many decisions when you are purchasing a condo – the location, the amenities, the condo fees. But, there’s one more thing to consider in your search…your condo insurance. So, how does condo insurance work? Get the scoop on the insurance you should consider before you settle into your new place.
- At home
How are my personal belongings covered?
We’ve recruited our very own expert and licensed Insurance Advisor, Tawsif, to unpack everything you need to know about how your belongings are protected under your home policy. We figured it’s easiest to hear him explain it …
FAQs
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.
Condo insurance covers certain types of water damage 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.
Some condo insurance water damage coverages, like sewer backup and overland water, aren't included in a standard policy. You can add these optional coverages to your policy for extra peace of mind.
Condo insurance helps cover your personal belongings, improvements to your unit, personal liability and certain costs your condo corporation may ask you to pay.
A standard policy generally covers:
- Personal belongings (contents): covers items you own, like furniture, electronics and appliances, if they're damaged or lost due to a covered event like fire or theft.
- Unit improvements and betterments: Helps cover upgrades you've made to your unit, like hardwood flooring or custom closets.
- Personal liability: Protects you financially if someone gets hurt in your condo unit or you accidentally damage someone else's property.
- Property loss assessment: Helps cover your share of repair costs if your condo corporation asks owners to contribute after damage to the building or shared spaces.
Insurers look at a few key factors to calculate your premium. These details help us understand how likely you are to file a claim and what it might cost.
Let’s look at a few of those factors:
- Your condo’s location: Local risks like severe weather or theft can affect your price. For example, what you pay for condo insurance in Ontario, Alberta and British Columbia can vary quite a bit.
- Your coverage: The amount of insurance you choose can affect how much you pay. Generally, more coverage means a higher premium.
- Your deductible: This is the amount you pay out of pocket when you make a claim. A lower deductible typically means a higher premium, but less to pay if you make a claim. A higher deductible means a lower premium, but more to pay if you make a claim.
- Your claims history: If you’ve made insurance claims in the past, your premium could be higher.
While condo insurance isn’t legally required in Canada, you’ll likely still need it. Most mortgage lenders require proof of insurance before they’ll finalize your mortgage, and many condo corporations require it before you can move in.
Without condo insurance, you’d have to pay out of pocket to repair damage or replace your belongings after a fire, theft or water damage. These costs can add up fast. That’s why having your own coverage is a smart choice, even when it’s not legally required.
Your appliances may be covered by your personal condo insurance or your condo corporation's master policy – it all depends on how they're classified.
Appliances you own are generally covered under your Sonnet policy if they're damaged by a covered event, like a fire. Some built-in appliances might fall under your condo corporation's master policy instead. Check with your condo corporation to see what their insurance covers.
Renting a condo from someone else? Your landlord's insurance will generally cover appliances they own. If you've purchased your own appliances, your tenant insurance may cover them instead.
The type of insurance you need for your townhouse depends on whether a condo corporation governs the property. If it does, you'll typically need condo insurance. If not, you'll need a standard home policy instead.
Not sure which applies to you? Check your property ownership documents to see if a condo corporation is listed.
