Protect your Ontario condo with condominium insurance

Buy condo insurance online in 5 minutes.

No matter if you live in a high-rise in downtown Toronto, a town house in Mississauga or a low-rise in Ottawa, you need to have the right coverage for your condominium.

Get customized coverage, in language you can understand, at a competitive price – and do it all online. We’ve simplified condo insurance, so you can focus on what you love.

Renting a condo as a tenant? Check out our renters insurance.

Protect your condominium, its contents and more with condo insurance. Although policies can differ, here are some of the common coverages you can find under a condo insurance policy. 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. You’re covered if someone gets hurt while visiting or for damage you may unintentionally cause.

Personal Belongings

Often called contents insurance, this protects anything you own that you could pack in a bag or put in a moving truck. Things like your clothing, electronics, furniture, etc. are covered no matter where they are (whether they’re in your house or not). Just keep in mind, if you’re renting out your condo, only major appliances (like your fridge, stove and washing machine) are covered for theft – the rest of your contents aren’t.

Extra Expenses

In case something happens and you can’t live in your home – you’re covered while your condo is being repaired. You can choose to stay in a hotel or with friends and family. We’ll provide you with the cash 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 Coverage

This includes three extra protections:

  • Unit Improvements Coverage
    Have you been making improvements or betterments 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. Get reimbursed for the legal fees and expenses for replacing legal documents up to a limit.

Additional condo insurance coverages
Sewer Backup

This coverage can help in some smelly situations. For example, if water from a sewer, sump, septic tank, or floor drain, backs up or escapes into your condo’s lobby or lower levels and you can’t get to your unit, this will help provide you with additional living expenses. It also covers belongings kept in your condo’s basement storage unit that are damaged. 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, this will help provide you with additional living expenses. It also covers belongings kept in your condo’s basement storage unit that are damaged. Coverage offered depends on eligibility.

The premium you pay for condo insurance is based on information about you and your condo. This includes things like your condo’s location, how much coverage you need and your personal claims history. Here are some examples of the average price of condo insurance with Sonnet in Ontario:

Insurance for the average Toronto condo owner costs less than a monthly meal subscription box.

Living in Mississauga, you can get condo insurance for around the same price as a pizza, some wings and couple of sodas.

If you live in an Ottawa condo, the cost of insurance is comparable to what you’d pay for a night at the movies – popcorn included.

"My only regret is not finding you sooner. If there’s anyone out there who’s still shopping around for home / auto insurance – stop. You’ve found it, right here. Go Sonnet!" "Super easy, super customer service, super price. Almost a third of the price of other companies for house insurance. Couldn’t be happier with this company. Thanks Sonnet." “…I’ve enjoyed the easy customer service and quick responses to all of my questions. I look forward to adding home insurance in the near future.” “Just signed up for Sonnet Insurance – one of the best online experiences of my life. Cheers!” "I was talking to my friend about overpaying my insurance and couldn't change insurers because of all of the paper work. He suggested that I try Sonnet online. Quote took literally 3 to 5 minutes and the price they gave me was unbelievable."

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 condo insurance to get started.

Do I need property insurance in Canada?

Whether it’s a house or a condo, buying a new property is a big investment. But, it’s more than a piece of property, it’s your home. That’s why it’s important for every home and condo owner to buy property insurance in Canada. Without property insurance, you’d be responsible for covering the cost if something were to happen to your home or its contents.

Plus, if you have a mortgage on your house or condo, your lender will also likely require you to have home insurance coverage.

Does my Sonnet policy cover me for short-term rentals through networks like Airbnb?

If you have a homeowner’s policy with Sonnet, you’re allowed to rent a portion of your home to a maximum of two people or a separate unit in your home to a family as long as you’re living there at the time.

If you’re not living there during the time it’s rented, or this isn’t your primary residence, then it’s not covered under your homeowner’s policy and you’ll need a landlord policy.

If you have a condo owner’s policy with Sonnet, you’re allowed to rent out your entire condo regardless of whether you’re living there or not. However, your coverage for burglary or theft is limited.

Heads up! If you have a long-term rental unit in your home and also rent out a portion on a short-term rental network, this could exceed the limitations of your policy. Please contact us if this applies to you and we’ll make sure you’ve got the right coverage.

For more information on insurance and short-term renting, check out our blog on short-term rental insurance 101.

What are some extra home coverages I should know about?

Depending on where you live, additional coverages are available to add on for certain events that aren’t covered by a standard home policy. These coverages are hail, sewer back up, overland water and earthquake. All of these coverages can be added when making your quote.

Already purchased? You can add on these coverages at any time through your account.

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:

  1. Do you have a Condo Corporation?
  2. 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.

How do you calculate my home insurance premium?

It’s a whole lot of math and statistics. Basically, we look at a complex set of factors that determine your rate. For instance:

  • Where your home is located
  • Home structure, age, heating equipment, etc.
  • Size of your home
  • Number of past claims
  • Information about you (age, etc.)

Average monthly premiums for condo insurance in Ontario are based on current Sonnet policies as of February 2021, with assumptions made to determine demographic groups.