Protect your Ontario condo with condominium insurance
Buy condo insurance online for your unit in Ontario.
Do you own a condo in Ontario? Get coverage that’s right for you
Whether you live in a condo in Toronto, a townhouse in Mississauga or in a condo in Ottawa, you need to have the right insurance for your condominium. You can get a condo insurance quote online in minutes. Get a customized quote, in language you can understand, at a competitive price – and do it all online. We’ve simplified getting condo insurance, so you can focus on what you love.
Are you renting a condo unit as a tenant? Get a quote online for
What is condo insurance?
Your Condominium Corporation has insurance for the building itself and its common areas. But, it doesn’t cover your things inside your unit or any condo improvements you’ve made. This is why as a condo owner, it’s important to have condo insurance that covers your stuff and more if something happens.
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 a couple of sodas.
If you live in a condo in Ottawa, the cost of insurance is comparable to what you’d pay for a night at the movies – popcorn included.
Engineering graduates in Ontario
Whether you’re a civil, mechanical, electrical, chemical, industrial or computer engineer, you can
Accounting graduates in Ontario
From strategic advice to clever ways to boost revenue, accountants are good with numbers. You’ll love seeing a
Canadian University Alumni
More than just a piece of paper, a
City of Windsor
North York General Hospital
The Denturist Association of Ontario
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
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 your stuff, you’d have to pay out of pocket for covering the cost.
Plus, if you have a mortgage on your house or condo, your lender will also likely require you to have home insurance coverage.
During home insurance calculation, insurance companies look at a complex set of factors. These will determine the likelihood of you making 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:
- Where your home is located
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 windstorms, there could be more frequent claims for damage. This could cause your home premium to be higher than that of a house in an area that doesn’t have windstorms very often.
- Home age and condition
The older the building, the higher the likelihood of a claim. That’s because things like old wiring (fuses, for example) are a bigger risk for fire. And, old plumbing increases your risk of claims due to sudden leaks or burst pipes.
- Heating equipment
If your home is heated with oil (like it is in many rural areas), your premium could be higher. Oil tank leaks increase risk of damage and environmental hazards. Wood stoves are also a common source of house fires, so they could raise your payments, too.
- Proximity to fire support
If your home is close to a fire station and fire hydrants – like in an urban area – your premium could be lower than a home in a rural location, where travel distance is longer.
- 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 homeowners with more experience as less risky to insure. Some insurers could also look at your credit score.
- How you use your home
Do you rent out rooms or a basement unit in your house? Factors like this may also impact your premium since they can increase damage and liability risks.
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.
Looking for condo insurance? Live in Ontario?
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.