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
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.
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.
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.
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.
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.
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.