How high are Condo Insurance costs? Personal condo insurance is quite affordable if you compare it to other home insurance policies or with other insurance types.
An insurance policy can cost as little as $20/month. According to the perspective Daniel Mirkovic, a CEO of Square One Insurance, an average personal condo insurance policy in Canada costs between $27 and $33 per month.
The amount that you can expect to pay will depend on the limits of insurance that you select. The main aspect in controlling condo insurance costs is to choose protections that you really require and coverage limits that you really need.
coverage limits that you really need.
Average Home and Condo Insurance cost in Canada
Here are several stats that can provide some transparency about home and condo insurance costs
|Average home insurance costs in Canada||Average home insurance costs in Ontario||Average home insurance costs in Alberta|
|Owned and Rented||$48/month||$47/month||$59/month|
Here is an overview of Condo Insurance cost in Toronto, Calgary and Edmonton (based on condo insurance rates offered by InsurEye’s partner Square One Insurance).
|Average condo insurance costs in Toronto, ON||Average condo insurance costs in Calgary, AB||Average condo insurance costs in Edmonton, AB|
Are you looking for a condo insurance or interested to see if you are overpaying for your existing policy? Get a free condo insurance quote and start saving today.
Get a Home Insurance quote now. Start saving.
If you want to find out more about differences between Commercial and Personal Condo policies, our detailed article explains what the commercial condo policy covers, versus your personal condo insurance policy.
Our Publications related to Home Insurance
The arrival of COVID-19 has pushed Canadians, more than ever before, online for finding and applying for insurance and banking products. It is not easy, though, to make the right choice without knowing if a particular insurer will be there when you need them the most. As the largest Canadian review platform with thousands of […]
A prospective buyer is always going to be focused on a condo unit’s view. Unlike a house, these units rarely have multiple windows to the outside in various directions. The exterior wall, which usually is either glass or contains a balcony, is likely the only point of contact with the natural world. While the interior […]
It’s no secret that property prices in many urban areas of Canada are on fire. And it’s not limited to just the core of Toronto and Vancouver. Houses for sale in Hamilton, for example, have doubled in price in the last decade and houses in Mississauga are almost $750,000. It’s increasingly hard for the average […]
Toronto real estate has been tumultuous in the last few years. At first, everything was going, up, up and up. Record low-interest rates made huge mortgages more attractive, and few new suburbs were developed thanks to the Greenbelt. Almost 90, 000 Newcomers were moving to Toronto each year, along with Canadians from other parts of […]
InsurEye Inc has announced the launch of a new website: CondoEssentials. The new site is a condo review platform that has been designed to better inform Canadians about real estate, with a particular emphasis on condominiums. InsurEye has been informing consumers about details of auto, life and condo insurance for years through thousands of independent […]