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.
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 |
| Owned only | $66/month | $65/month | $75/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 |
|---|---|---|
| $26/month | $34/month | $32/month |
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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.