Find The Best Condo Insurance Rates And Coverage
You care about saving money on your condo insurance, right? ThinkInsure's condo insurance experts will help find you the best coverage at the cheapest rates in Toronto, Ottawa, Hamilton and all of Ontario.
- Savings : We can compare condo insurance quotes and coverage from over the leading insurance companies based on your specific condo insurance requirements. We'll make sure you understand your options and then you can pick the lowest rates to get the best price. So you save money.
- Selection : ThinkInsure is partners with over 40 insurance companies. So we can offer our customers the convenience of one stop condo insurance shopping with the best companies. So they get the best coverage and rates.
- Service : Each ThinkInsure customer gets a dedicated personal service representative who provides fast, friendly and professional service for all condominium insurance matters. Your insurance needs are our top priority – ALWAYS!
With more and more condos springing up all over Toronto, the GTA, and the rest of Ontario, questions about condo insurance coverage have never been more prevalent.
Your Condo Is A Big Investment And Should Have Proper Insurance Coverage
Your condo is an investment in your life. And lifestyle. Make sure you’re protecting your condo properly by getting the right policy for your condominium unit and its contents. The truth is that many condo owners/occupants are unclear about what is and isn’t included in their policy :
- 61% of condo owners assumed their building or property management company’s insurance coverage would coverage damage to their unit as a result of water or fire.
- 74% are unclear about what their personal insurance should cover compared to what the condo corporation’s insurance coverage should cover.
But how do you know if you’re getting the best price on that vital condo insurance coverage? How do you know you’re paying the lowest premium, taking any and all potential discounts into account? How do you know you have the right amount of coverage to protect your belongings?
Get The Lowest Toronto Condo Insurance Rates
That’s where ThinkInsure comes in. We are your go-to resource for all your condominium insurance needs. How can we be so sure?
To begin with, over 45 years of insurance experience in your own backyard – we serve all of Toronto, the GTA, and Ontario – means a lot. We’ve been there for others like you. And we’re now here for you.
Why Do I Need Condo Insurance?
You need condo insurance for the same reason you need home insurance or car insurance coverage. Similar to the owner of a house needing home insurance, you also need condo insurance to cover your condo unit and contents, and to provide personal liability protection.
You may have learned that your monthly condo fees help pay for the insurance the condominium corporation (also called a condo association or board) needs for the condominium building, common areas, and liability. Isn’t that enough? No. You also require condo insurance to ensure you are covered and don’t have any lapses in coverage.
Why Do I Need Condo Insurance If I'm Already Paying Fees That Cover The Condominium Complex?
Your monthly condo fees help pay for the insurance the condominium association needs for the condominium building, common areas, and liability. Condo fees are mandatory, non-negotiable monthly fees that represent your share of the costs to run the condo building and complex as a whole, including insurance.
Typically, fees cover at least part of your water and hydro, and may include heat. Fees go towards maintenance and into a reserve fund as a contingency to pay for significant expenses such as a new roof or heating and plumbing repairs.
What these fees don’t cover is your personal condominium insurance coverage.
What Is Covered In My Condo Insurance Policy?
While every condo association will have specific details in its master insurance policy, typically you’re responsible for everything inside your unit’s walls. Condo insurance typically includes everything that is not included in your condo association’s master insurance policy. Your condo insurance covers :
- Loss or damage to personal contents of your unit
- Fixtures in your condo such as the appliances, wiring, plumbing, and carpets
- Unit upgrades
- Personal liability coverage
- Loss of use
The actual amount of coverage you will need should reflect what it would cost to repurchase everything that is contained within your condo unit.
Similar to a standard home insurance policy, condo insurance DOES NOT cover high value items such as expensive jewelry and collectibles. If you want these item insured, you will need to take out additional insurance to ensure they are covered.
How Much Does Condo Insurance Cost?
Customers ask us all the time : “How much is condo insurance?”. Similar to home insurance costs, your condo insurance cost will depend on a variety of factors such as how much coverage you have, your deductible, where you live (condo insurance in Toronto is more expensive than condo insurance in a small town), your personal contents, and more. In general, condo insurance costs less than home insurance because you are not insuring the actual structure of the condo building and common areas.
If you want to get the cheapest condo insurance rates, get a condo insurance quote online anytime with ThinkInsure.
ThinkInsure Toronto Condo Insurance Testimonials
“ I saved an extra $100 just for bundling condo insurance with my car insurance. That's over $250 I saved on my condo insurance and $300 on my car insurance. I'm glad I called ThinkInsure!”Peter, Toronto Condo Owner
“ It didn't take long at all to save almost $300 on my condo insurance compared to what I was paying.”
Mohammed, Toronto Condo Owner
“ I now pay $235 less for my condo insurance, thanks to ThinkInsure.”
Yang, Markham Condo Owner
“ Thank you for answering our questions and helping us save money on insurance for our condominium. Dealing with you has been a pleasure.”
Rajinder and Navya, Mississauga Condo Owner
What's The Difference Between Home And Condo Insurance?
Just as the owner of a house needs home insurance, you also need condo insurance to cover your condo unit and contents, and to provide personal liability protection.
While every condo association will have specific details in its master insurance policy, as a condo owner you're typically responsible for everything inside your unit's walls.
For example, the condo corporation's master policy would usually cover the drywall and primer, but your policy covers the paint you put on the walls.
As you are perhaps well aware, condominiums are quite different animals than your typical freehold houses. This translates into condo insurance being quite different from home and property insurance. How so? It’s worth looking way back to see how and why.
A “Condominium” Has “Community” and “Common Areas”
While the word’s origins suggest we should be calling them something different than “condos,” the notion of togetherness is central to the condominium concept – and the differences between condo insurance, home insurance, and tenant insurance.
As part of a physically connected “community,” condominium owners are part of a condominium corporation (or association/board) that needs to consider common areas (maintenance, damage, improvement issues), contingent insurance to cover extras, and so forth.
Community Doesn’t Need To Mean Complexity For Your Condo Insurance
While it may seem like condo insurance is more complex, it doesn’t mean getting the best rates on insurance for your condominium unit needs to be complicated.
Let ThinkInsure find you a range of the best condo insurance quotes for your requirements. Then you choose which policy works best for you. Simple – not complex.
Why Compare Condo Insurance Quotes Online?
A condo insurance comparison is always a good idea before you choose a policy. Whether you live in Toronto or anywhere else in the GTA, one of the most convenient and effective ways to do this is to compare condo insurance quotes online. Comparing quotes online allows you to get the best condo insurance rates.
- Condo insurance rates vary
- You will save time
- You will see what insurers have to offer
- You can choose the cheapest condo insurance rates
- You can get a condo insurance quote in just minutes!
Get A Condo Insurance Quote And Save With The Cheapest Rates
Community doesn’t need to mean complexity for your condo insurance in Toronto or across Ontario. While it may seem like condo insurance is more complex, it doesn’t mean getting the best rates on insurance for your condominium unit needs to be complicated.
Let ThinkInsure find you a range of the best condo insurance quotes for your requirements. Then you choose which policy works best for you. Simple – not complex.
