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condo insurance rates
in Alberta.
Types of coverage we provide
Provides protection against a lawsuit resulting from damaged property or personal injuries.
Referring to 'special limits' on items like jewellery or art if the value is greater than the special limit you should list the item separately.
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Alberta condo insurance rates vs. other provinces
Province |
Average Rates |
|---|---|
Alberta |
$494 |
British Columbia |
$841 |
Manitoba |
$404 |
New Brunswick |
$405 |
Saskatchewan |
$491 |
Nova Scotia |
$501 |
Prince Edward Island |
$484 |
Ontario |
$535 |
See how our customers save big on condo insurance
Customer |
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Type |
Average rate |
Lowest Rate |
Savings |
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Condo Insurance in Alberta - What You Need to Know
No, condo, home, or tenant insurance is not mandatory in Canada, although the condo association, or the owner of the condo, may require you to have to move in. You also need insurance to secure a mortgage to purchase a home or condo. So, even though it is not legally required to have, there are other outlets that may require the homeowner to purchase it.
If you own a condo or rent a house or apartment, some landlords may require tenants to have tenant insurance before moving in and condo corporations and lenders may require condo unit owners to show proof of insurance before moving in as well.
Condo insurance protects the units within a condo building. You would get it to protect your contents such as appliances, clothing and furniture (and would also cover items stored in a locker).
It would also provide additional living expenses in the event of an insured loss (if you had to temporarily move out) as well as the condo owner's liability for any bodily injury or property damage that was unintentionally caused by others in the building.
Condo building insurance is different. This is purchased by the condo corporation to cover damage to the building and the common areas and liability on the property. This is usually included in the monthly condo maintenance fees.
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