Compare and purchase Canada's best condo insurance.

Condo insurance covers what your condo corporation’s policy does not. This includes your personal belongings such as furniture, electronics, and clothing, as well as any upgrades you have made inside your unit, like new flooring, countertops, or fixtures. 

It also includes personal liability coverage in case someone is injured in your unit and decides to sue.  Choosing the right liability limit helps protect your income and savings from legal costs or claims. 

You can also add coverage for things like hotel stays or other living expenses if your unit is temporarily unlivable due to an insured event. 

Yes, you may have the option to pay your condo insurance with a credit card. Many providers also accept other payment options, such as debit or pre-authorized bank withdrawals.  Payment methods can vary depending on the insurer, so it’s a good idea to check with your provider or broker directly

Condo insurance is not mandatory in Canada, but if you have a mortgage, your lender will likely require it before approving your financing. 

Your condo association will have a master insurance policy, but it usually only covers the building structure and shared spaces. Some policies may include limited coverage for things like built-in appliances, flooring, or interior walls, but this varies from one building to another. 

It’s always a good idea to find out exactly what your condo corporation’s policy covers.  Speak with a Surex advisor to make sure your personal policy fills in the gaps and provides the protection you need. 

Your condo association’s insurance policy will generally fall into one of three categories:

1. Bare walls coverage: This type covers the building structure and shared common areas only. Everything inside your unit is your responsibility, including flooring, cabinetry, and fixtures.
   
   
2. Single entity coverage: This extends coverage to the building and some standard features inside your unit, such as original cabinets, flooring, or built-in appliances, but not your personal belongings.
   
   
3. All-inclusive coverage: This includes the building, your unit, and any improvements or upgrades made to your space, like renovated countertops or new flooring. Personal contents are still not covered.  

Even with broader policies, personal belongings and liability are not included, so you will need your own condo insurance to fill in the gaps.  Your Surex advisor can help you review your building’s policy and build the right coverage around it. 

Condo insurance helps protect you and your unit from unexpected events, but not all policies are the same. It’s important to understand exactly what your policy includes, so you’re not caught off guard if you need to make a claim. 

Here’s what condo insurance typically covers: 

• Contents inside your unit: This includes your personal belongings, such as furniture, electronics, and clothing. These items are usually protected against risks like fire, theft, and vandalism. High-value items like jewelry or fur may have coverage limits, but you can often increase those limits with a policy add-on. 

• Personal liability: This protects you if someone is injured in your unit or if you accidentally cause damage to another unit. For example, if a guest trips on your rug and is hurt, or if water from your bathtub damages the unit below, your liability coverage can help with legal and repair costs. 

• Interior unit coverage: You are responsible for insuring everything inside your unit that is not covered by your condo corporation’s policy.  This can include flooring, fixtures, walls, ceilings, and built-in appliances—especially if your building's master policy provides only minimal coverage. 

Yes, condo insurance can provide liability coverage if your pet causes injury or damage to someone else. For example, if your dog bites a visitor or damages a neighbour’s property, your personal liability coverage could help cover legal or medical costs. 

Keep in mind that coverage varies by provider, and some insurers may exclude certain breeds or types of pets.  If you have a dog, especially one that’s considered high-risk, it's a good idea to check with your insurance advisor to make sure you’re fully protected. 

There are several ways to help lower the cost of your condo insurance without sacrificing coverage: 

• Install a centrally monitored fire or security system. This reduces your risk of theft or fire-related damage and may qualify you for a discount. Be sure to get a valid monitoring certificate from your provider. 
   
• Bundle your policies. Bundling your condo insurance with auto or other policies under the same provider can lead to multi-policy savings. 
   
• Maintain a claims-free record. If you haven’t filed any recent insurance claims, you may be eligible for a claims-free discount.
  
  
• Review your coverage regularly. Make sure you aren’t over-insured for outdated belongings or unnecessary add-ons. An advisor can help fine-tune your policy to match your current needs. 

If you’re not sure where to start, especially as a first-time condo owner, speaking with a licensed insurance advisor can help.  They can walk you through available discounts and make sure your coverage fits your needs and your budget. 

Possibly, but it depends on how you sublet and whether your insurer has been informed. If you rent out your condo, whether for a few weeks or several months, you are changing how the unit is used, and that can affect your coverage. 

Most insurers treat long-term sublets differently from short-term rentals through platforms like Airbnb.  Long-term subletting may be allowed with an update to your policy, while short-term rentals may not be covered at all under a standard condo insurance policy.  

To stay protected, always notify your insurance provider before subletting or leasing your condo. They can advise you on what coverage adjustments are needed to keep your policy valid. 

There are many advantages to living in a condo! Here are a few:

• Flexible living - you can just lock up and go
• Generally more affordable than single-family homes
• Condo insurance is typically cheaper than home insurance
• Great sense of community in the building with your neighbours
• Living in the heart of the city
• Top-notch amenities, such as gyms, pools, party rooms and more
• Appliances often included
• Building maintenance and cleaning of common areas are covered by your condo fees

The common property of a condominium refers to the areas and facilities that are shared by all unit owners. These can include spaces such as the lobby, hallways, elevators, outdoor gardens, swimming pool, fitness centre, and other recreational amenities. 

Every condo building offers different shared features, and the cost of maintaining these spaces is divided among unit owners through monthly condo fees.  These fees help cover the upkeep, repairs, and day-to-day operations of the common areas.