Condo Insurance Ontario

A common question we often get asked is, “Why do I need condo insurance if my condo building already has insurance coverage?”

While your condo association insurance will cover the building itself (and certain common areas), it doesn’t offer protection for everything.

Here are a few things to consider:

  • If your condo unit should have a flood or fire and it causes damage to other condo units, you could be held personally responsible if you don’t have your own condo insurance coverage.
  • With condo contents insurance, all your personal belongings will be protected.
  • Coverage would also be provided for any upgrades you may have made to the condo.
  • Condo liability coverage helps to protect you if you should unintentionally cause property damage or bodily harm to someone while they are in your condo.

It is important that your condo Insurance broker understands the condominium association insurance policies. Huronia Insurance in Barrie Ontario has time-proven relationships with many of the best insurance underwriters. We understand how to find you the best condo insurance at the most affordable prices.

If you are renting out your condo, or if you are a tenant and renting a condo from your landlord, see our web page on Tenant Insurance for more detailed information.

Below are three more frequently asked questions that we often receive from homeowners and landlords about condo insurance in Ontario.

Don’t My Condo Association Fees Include Insurance?

In general, the answer is no, not usually. Condominium association insurance policies vary from building to building. Usually, they cover the common shared areas of a building. However, some policies do not cover damage to common areas. As a condo owner, you could be assessed for a portion of required repairs.

Low Assessment insurance would protect you in these circumstances, and Contingent Insurance would cover any shortfalls in the policy with which your condo association is currently protected.

Your Condo Insurance policy should be wide enough to cover the cost of replacing everything in your unit including loss or damage to appliances, carpets, fixtures, plumbing, and wiring.

How Can I Get Discounts on My Condo Insurance?

  1. Claim-Free Status
    If you have never had to file an insurance claim, you may be eligible for a discount on your Condo Insurance.
  2. Non-Smoker
    If you are a non-smoker, you will likely be able to receive lower rates than smokers. Ask your insurance agent about deductions for non-smokers.
  3. Burglar Alarm
    If you have a Burglar Alarm in your Condo, you can qualify for a discount.
  4. Multi-Policy Discount
    If you have more than just a single policy through Huronia, you will qualify for a discount. For example, if your condo, car, and life insurance were all associated with Huronia.

What Valuables and Collectibles Are Covered By My Condo Insurance?

Valuable items such as collectibles or jewellery are not normally covered by your condo insurance. You would require additional insurance for these items. Ask specific questions of your insurance broker until you are satisfied that you understand what your policy will cover, and what it will not.

About Huronia Insurance Group

Huronia Insurance Group offers auto, personal, business and home insurance services to clients througout Southern Ontario including Barrie and the Greater Toronto area.

If you have any questions about condominium insurance including vacant condo and condo contents insurance, please contact us online, send us an email, or call our insurance agents:

Toll-FREE: 1-866-955-8386

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