Owning a condo gives you the convenience of low-maintenance living—but it also comes with unique insurance needs that your building’s master policy doesn’t cover. From water damage inside your unit to liability claims, improvements, and personal belongings, having the right insurance ensures your space is fully protected. Regal Insurance compares condo insurance quotes from top Canadian providers to help you find the right coverage—easy, fast, and tailored to your lifestyle.
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Condo insurance—also known as “condo unit owner insurance” or a “condominium policy”—protects everything inside your unit that your building’s master policy doesn’t. While the condo corporation covers the building’s structure and shared areas, you’re responsible for your unit’s improvements, personal belongings, and liability exposures.
As an independent brokerage, Regal Insurance works for you—not the insurance companies. We compare condo insurance quotes from leading Canadian providers to help you secure the right protection for your lifestyle, whether you’re living in a downtown high-rise or a suburban townhouse-style condo.
Whether you’re moving into your first condo or upgrading your coverage, we’re here to help you protect what matters most.
Reach out today for your free condo insurance quote.
Regal Insurance is your independent Ontario property insurance broker, focused on people, not platforms. We’re not just another insurance comparison site. Our licensed brokers work for you, not the insurers, delivering smarter guidance and better rates.
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Condo insurance protects the interior of your unit and everything you own inside it. While your condo corporation has a master policy that covers the building’s structure and common areas, it rarely includes your personal belongings, your unit’s upgrades, or your liability. Without proper coverage, you may face out-of-pocket expenses for repairs, replacements, or even lawsuits.
Consider a few common condo scenarios. A burst pipe damages your flooring and custom cabinetry—your condo corporation may repair the wall, but not your improvements. If a guest slips inside your unit and is injured, you’re responsible for liability. And if a fire forces you out of your home for several weeks, you may face sudden expenses without loss-of-use coverage.
A dedicated condo insurance policy fills these gaps, helping you protect your personal belongings, your upgraded finishes, and your financial security from unexpected events.
Protects upgrades within your condo—such as hardwood flooring, custom cabinetry, countertops, light fixtures, or built-in features. For example, if an accidental kitchen fire damages your upgraded finishes, this coverage helps you repair or replace them without paying out of pocket.
Covers your personal belongings, including furniture, electronics, clothing, décor, and other items stored in your unit or locker. If your belongings are damaged by water or stolen during a break-in, contents coverage helps you replace them quickly.
If someone is injured inside your unit or if you accidentally cause damage to another unit—such as a leak dripping into the unit below—liability coverage helps pay for legal fees, repairs, and medical costs. It’s one of the most important protections for condo owners.
If your condo becomes unlivable due to a covered event like fire or water damage, this coverage pays for temporary accommodations, meals, and other expenses. It ensures you’re not financially strained while your unit is being repaired.
Water is the most common condo insurance claim in Ontario. This add-on helps protect against sewer backup, overflow, and certain types of flooding that aren’t covered by standard policies. For example, if a plumbing issue or backup damages your unit, this coverage helps pay for repairs.
When the condo corporation issues a special assessment to owners—often for damage in common areas or deductibles on the building’s master policy—this coverage helps protect you from unexpected charges. It’s especially valuable in buildings with high deductibles or aging infrastructure.
Provides additional protection for personal belongings stored in your condo’s locker or designated storage space. If items are damaged or stolen, this coverage ensures they can be replaced without financial strain.
Covers mechanical or electrical breakdown of major in-unit systems and appliances, such as HVAC units, washers, dryers, and refrigerators. If a power surge or mechanical failure destroys an expensive appliance, this coverage helps with repairs or replacement.
We partner with Canada’s top auto insurance providers so you can compare quotes side by side, choose the best coverage for your needs, and lock in a competitive rate, without the hassle.
Condo insurance doesn’t need to be expensive. With the right strategy, Ontario condo owners can secure exceptional coverage at a competitive rate. Regal brokers help tailor your policy to your unit, lifestyle, and risk profile—ensuring you stay protected without overpaying.
Bundling your condo policy with auto insurance or other personal insurance products can unlock valuable discounts. Many insurers offer reduced premiums when multiple policies are combined under one provider.
Selecting a higher deductible can reduce your monthly premium. This option works well for condo owners who can comfortably cover a larger deductible in the event of a claim, while keeping premiums low.
As your lifestyle or unit improvements change, your insurance needs may shift. Annual reviews ensure your coverage reflects your current belongings and upgrades—helping you avoid both gaps and overpayment.
Installing monitored alarms, smart locks, and smoke detectors can help reduce your premium. These measures lower the risk of theft or damage, making your unit more attractive to insurers.
Condo owners sometimes insure more belongings than needed. Adjusting your contents limit to accurately reflect the value of your personal property can lower costs without compromising protection.
Want to learn more ways to save or better understand your coverage? Visit our Help Centre to explore articles on deductibles, discounts, policy add-ons, and more. We’re here to make car insurance simple, transparent, and tailored to you.
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Condo insurance extends protection to the interior of your unit and your personal belongings. A condo corporation’s master policy only covers the building and common areas, so specialized condo insurance is essential. It typically includes:
It’s important to note that without condo insurance, claims involving your unit’s interior or personal items may not be covered by the building’s master policy.
No, it’s not legally required in Ontario. However, most condo corporations require unit owners to carry their own condo insurance as part of their bylaws. Mortgage lenders also expect proof of adequate coverage before approving financing for a condo purchase.
Even when not explicitly mandated, condo insurance is a crucial safeguard. Without it, unexpected repairs, liability incidents, or special assessments can lead to significant out-of-pocket costs.
Any condo unit owner in Ontario should carry condo insurance. This includes:
Even if you rarely file claims, one water incident or accidental injury could cost thousands without proper coverage.
Premiums depend on unit location, age of the building, your contents limit, and your chosen deductibles. Many condo owners pay between $250–$600 per year, while higher-value units or those with extensive upgrades may pay more.
Optional add-ons—such as water damage protection or loss assessment coverage—can also influence total cost depending on your building’s risk profile.
Several factors determine cost, including:
A broker can help you structure your policy based on your building’s characteristics and your coverage needs.
Yes, there are several strategies:
A broker can help ensure you’re saving money without compromising vital protection.
Home insurance covers stand-alone homes where the owner is responsible for the entire structure. Condo insurance, by contrast, covers only the interior of your unit, your belongings, and your liability. The condo corporation covers the exterior and shared spaces through its master policy.
Without condo insurance, many claims involving damage inside your unit or belongings would not be covered by the building’s policy.
Yes. Liability coverage extends to injuries that occur inside your private unit. For example, if a guest slips on a wet tile floor or trips over a raised threshold, your condo insurance can cover medical expenses and legal fees.
Without this coverage, you may be responsible for bodily injury claims or legal judgments.
Yes. Most condo insurance policies include coverage for belongings stored in your locker or designated storage area. Items stored there—such as seasonal décor, luggage, or sporting equipment—are typically protected against theft, fire, or water damage.
If your storage locker is broken into, this coverage helps replace stolen items.
Many condo owners start with $1 million–$2 million in liability coverage and adjust contents limits based on the value of their belongings. Upgraded units may require additional improvements coverage to protect custom materials or finishes.
A broker can help assess the right combination of liability, contents, and improvements coverage for your unique unit.
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