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Protect your unit with condo insurance

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Whether it’s a high-rise apartment-style abode in Toronto or a low-rise townhouse in Calgary, you need the right insurance for your condo unit. If you’re a condo owner in Alberta, Ontario, Québec, New Brunswick, Nova Scotia or P.E.I., you can get a condo insurance quote and buy a policy online with Sonnet in just a few clicks. Get customized coverage, in language that makes sense, at a competitive price. And, do it all online. We’ve made condo insurance easier, so you can focus on what you love.

Are you a tenant renting a condo as an apartment? Check out our renters insurance.

Family covered by condo insurance

How does condo insurance work?

Your condo is your home sweet home. But, a condo homeowner’s insurance needs are different than those of a house. Your Condo Corporation has insurance for the building and its common areas. You’ll need to get your own condo insurance policy to protect yourself and the things inside your unit.

What does condo insurance cover?

Living in Canada, you need to protect your condo or condo townhouse, its contents and more with condo insurance. Although policies can differ, here are some of the common coverages you can find under a typical 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 protection covers you 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.

Often called 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, furniture, etc. 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 major appliances (like your fridge, stove and washing machine) are covered for theft – the rest of your contents aren’t.

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.

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.

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 that could happen, 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 get back to where you need to be.

Additional condo insurance coverages

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.

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.

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:

  • Above and beyond

    Above and Beyond

    First claim forgiveness, replacement cost guarantee and enhanced deductible waiver are all extra perks of our Above and Beyond coverage.

  • Online Policy

    Live in it or rent it out

    We’ve kept things simple. Whether you call your condo home or rent it to tenants, our condo policy has you covered.

  • customer service

    Customer satisfaction

    Online doesn’t have to mean on-your-own. Email, chat or call our fully-licensed insurance agents and experience our 91% customer satisfaction score.

Save on more than just insurance

Get access to helpful information and a suite of services to simplify your life from our Sonnet Connect partners. Plus, take advantage of great discounts, promotions and free offers.

How much does condo insurance cost in Canada?

$470/year is the median cost of condo insurance with Sonnet in Canada. Get condo insurance for around the same price as a yearly gym membership.

How it’s calculated
The price you pay for condo insurance is based on several things. This includes details like the location of your condo, how much coverage you need and your personal claims history.

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 condo insurance:

  • claims free

    Claims free

    No claims in the last 5 years? This could mean extra cash in your pocket.

  • multi home


    Insuring more than one property could qualify you for a multi-location saving.

  • home and auto


    Bundling your home and auto policies could mean up to 20% savings for you.

What our customers are saying

"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!"
Khristian N., Oshawa, Ontario

Questions about condominium insurance? We’ve got you covered

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 condominium insurance to get started.

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.

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:

  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.

Thinking about switching your condo insurance?

You don’t have to wait for renewal to start saving. Switching your condo insurance to Sonnet may be easier and cheaper than you think.

Buy condo insurance online in 5 minutes