With thousands of condominium developments arising all throughout Ontario, the market is becoming saturated with these high quality, affordable ownership living options. While most people believe that condo insurance coverage is included in the mandatory, non-negotiable fees, they are only partially correct. These fees are utilized to cover the maintenance and operation of the building, as well as to help pay the insurance the condominium association is required to have for the building, communal areas and general liability.
At Regal Insurance, we pride ourselves on being an independent insurance broker with valued relationships across several insurance companies that allow us to provide a fair and comprehensive condo insurance quote to suit your needs.
Much the same as a home owner needs home insurance, a condo owner needs condo insurance. This type of burden prevention ensures your unit and its contents are covered in the event of a fire, break in or flood, as well as affords you personal liability protection.
Although policies are highly customizable to the individual as well as their budget, in your condo insurance coverage you’re typically protected against:
- Loss of use (any additional living expenses you may acquire while your unit is being repaired)
- Personal liability coverage (bodily injury or property damage sustained by others)
- Upgrades within your unit
- Theft, damage or loss to the personal contents within your unit
- Appliances, wiring, carpets, plumbing and other fixtures
Insuring your condominium, as with insuring a home, varies upon several factors. If your condo is located within a large city, your premiums will be more than if it’s located in a small town. Rates also fluctuate when taking into consideration the overall value of your condominium and the insured contents within. Certain brokers are able to offer you a better condo insurance quote than others, based on their history in the industry.
Get Your Condo Insurance Quote
Since its humble inception in 1984, Regal Insurance has been one of the most trusted and largest family-run brokerages in Ontario. By introducing innovative technologies and dynamic insurers, we’ve built on our original platform to compete in an ever-evolving industry. We are an inclusive brokerage that takes the time to know and understand our clients and comprehend both the prioritization of their needs and addresses their budgetary concerns. We would be happy to provide with you a concise and accurate condo insurance quote in person, online or you can speak directly to one of our qualified representatives at 1-(800)-516-6276.