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Compare the lowest condo insurance quotes in Canada and save an average of 20%.*

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23,617 Canadians

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What our users say:

May 17
Great and valuable services regarding…
Great and valuable services regarding competitive rates and coverage
Muhammad Hanif
May 15
It was a very professional service
It was a very professional service. The person.was polite
Hugo Figueroa
May 15
The Hope of a more cost saving policy
The Hope of a more cost saving policy
Caroline m Fremont
May 14
They went through the insurance…
They went through the insurance information with me , and allowed me to save hun...
Kevin Jessome
May 10
Good experience
Good experience
AV
May 9
👍👍👍👍
They are friendly and helpt
Maria
May 9
Best customer service
Best customer service.
HARIDASAN VELAYUDHAN
May 7
Very professional
Very professional, quick and prompt answers.
DORIN COTOI
May 7
Customer service was 10/10
Customer service was 10/10, very informative and helpful/friendly.
Emily
May 5
I was so impressed with your…
I was so impressed with your representative- Bhakti Joshi for her help in walkin...
Maureen Driscoll
May 5
The fellows were very friendly and…
The fellows were very friendly and helpful
Leona Toner
May 4
Very Helpful when time you need it
I have been using lowest rate.ca to find the best raye for any of my insurance a...
Eli
May 2
They found the lowest possible premium…
They found the lowest possible premium for me in minutes
Rob Di Ciccio
May 2
Knowledgeable staff.
Knowledgeable staff.
paul malandrino
April 30
You responded quickly to my request for…
You responded quickly to my request for a quote. Your response opened an opportu...
Dorothy
April 27
Very Helpful and Professional
Quick, and professional. Explained everything really well and answered all my qu...
Bonnie
April 26
A great agent...all my questions…
A great agent...all my questions answered I think Maria is an asset to your comp...
Ron Tombari
April 24
Great customer service
Great customer service! Ethan took the time to go over specifics with me! He was...
Margaret Lewis
April 22
Your agent Nathan was amazing and so…
Your agent Nathan was amazing and so helpful.
Alecia O'Brien
April 19
Prompt response
Prompt response. Good info to make a decision. Helpfull that info was sent to ...
Margaret Bird
April 19
Sean was easy to talk too and very…
Sean was easy to talk too and very informative.
Angela

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See how our customers save big on condo insurance.

Type of condoLocationPrevious claimsLowest rateAverage rateSaved
Quote from May 22, 2024
Type of condo
High Rise
Location
Oakville, ON
Previous claims
None
Lowest Rate
$24/mth
$288/yr
Average rate
$33/mth
$396/yr
Saved
$9/mth
$108/yr (27.00%)
Quote from May 23, 2024
Type of condo
Low Rise
Location
Victoria, BC
Previous claims
None
Lowest Rate
$25/mth
$300/yr
Average rate
$95/mth
$1,140/yr
Saved
$69/mth
$828/yr (73.00%)
Quote from May 22, 2024
Type of condo
Townhouse
Location
Calgary, AB
Previous claims
None
Lowest Rate
$29/mth
$348/yr
Average rate
$50/mth
$600/yr
Saved
$22/mth
$264/yr (43.00%)
Condo insurance quotes are compared from CAA, Dominion Insurance, Economical Insurance, Gore Mutual, Max Insurance, Pembridge, SGI, Square One Insurance, and Wawanesa Insurance.

Why compare with LowestRates.ca?

Your home insurance questions, answered.

Why do I need condo insurance?

Your condo building is insured by the condominium corporation, but the corporation’s policy doesn’t cover damages in your unit. In the unwelcome event of a break-in, flood, or an injury in your unit, or in the event of vandalism or smoke damage, you'll be responsible for the resulting costs, whether it’s repairs, replacements, or legal liabilities.

That’s why condo insurance is a must for condo owners. Condo policies cover your personal property and the interior of your unit, plus they give you liability protection for bodily injury or property damage to others. With LowestRates.ca, you can compare condo insurance plans from Canada's top providers and find the right policy.

Why should I shop for condo insurance online?

Comparing quotes online leads to big savings. After all, condo insurance prices can vary from insurer to insurer, which is why you need to compare rates to get the best deal.

The good news is that comparing is easy. No matter what kind of condominium you own, we can find you the cheapest condo insurance rates in your area.

How do I compare quotes?

Just fill out the form at the top of this page and provide a few quick details about you and your place. Then we'll find you the cheapest condo insurance rates available.

Depending on where you live, you’ll receive up to 15 quotes. Once you select a quote, an insurance broker will call to lock in your rate and help you set up your policy.

Will I have to submit to a credit check?

A credit check is optional, but it can help you score the lowest rate on your condo insurance. Insurers may use credit checks to help set rates, and a good credit score can dramatically lower the price of your plan. In fact, you'll likely only find the cheapest condo insurance rates if you get a credit check.

And, thankfully, at LowestRates.ca, we only do one credit check per application, so your credit score will remain intact anyway. Condo owners who shop around on their own for an insurance plan will usually have to submit to multiple credit checks, which can harm their credit.

What does condo insurance not cover?

Standard condo policies don’t cover high-value items, like precious stones, rare art, and so on. If you want these items included in your coverage, ask to schedule them separately on your policy.

Should I select an all-perils or named perils condo insurance plan?

It depends on how broad you want your coverage to be.

All perils coverage protects your belongings against a wide range of hazards, and any coverage exclusions will be explicitly listed in your policy.

Named perils coverage only protects your belongings against the most common types of hazards, which will be clearly listed in your policy.

All perils condo insurance costs more but gives you a much broader range of coverage. If a major disaster damages your condo, you'll be able to fall back on your all perils plan, which will replace your belongings.

Should I select an actual cash value plan or a replacement cost plan?

That depends on how much you want your policy to pay out in the event of a claim. The difference between these two types of plans can be thousands of dollars.

An actual cash value (ACV) plan reimburses you for the value of the items you claimed at the time they were damaged. But ACV plans account for depreciation, so the amount you get from a successful claim most likely won't be enough to replace your damaged belongings. For example, if your old TV is stolen, your insurer only pays what they deem the TV to be worth at the time of the theft, which is probably less than what you paid — or what it'll cost to replace.

Replacement cost plans actually pay you back for the full replacement value of your lost or damaged belongings. For example, if someone breaks into your condo and steals your old TV, your insurance provider will pay for a new one of similar make (if available) and quality. With the right replacement cost plan, you’ll be able to replace all of your belongings in the event that your condo sustains major damage or is subject to a serious theft.

How much condo insurance coverage do I need?

The amount of condo insurance coverage you take out should reflect the value of your belongings plus any improvements you’ve made to the unit. Take inventory of your belongings and estimate the cost of replacing each item.

If you’ve renovated your unit or made any other betterments, like installing a new, state-of-the-art kitchen or adding more shelving, you should make note of those changes and their costs.

How can I have a hassle-free claims experience?

Take photos of your belongings when you get a condo insurance policy. A visual record of what your unit looks like inside and what you own can expedite the claims process. And if you’ve made improvements, like adding new appliances, cabinetry, or carpeting, you should document those changes.

It’s also a good idea to keep receipts for any of the upgrades you’ve made to your unit. Credit card statements work too. Make sure you know how to access your credit card history online and keep your paper receipts in a secure place, like in a safety deposit box.

Lisa Coxon

Lisa Coxon

About the Author

Lisa is an Editor and Writer for LowestRates.ca. Her work has appeared in Reader’s Digest, Toronto Life, Canadian Living and TVO. As a child, she diligently hoarded the $50 bills that fell out of her Christmas cards. Adult Lisa is working hard to resurrect those stockpiling tendencies.

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*Shoppers in Canada who obtained a condo insurance quote on LowestRates.ca from January to December 2023 saved an average of 21% The average savings percentage represents the difference between the shoppers’ average lowest quoted premium and the average of the second and third lowest quoted premiums generated by LowestRates.ca. Excludes home and tenant insurance.