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What is the average cost of condo insurance in Quebec?

Curtis Killen

As president of KBD, Curtis aims to simplify insurance for his clients. He’s helped lead KBD to become one of Canada’s fastest 400 growing companies according to the Globe & Mail.

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According to KBD data, in 2023 the average condo insurance cost is $610/year in the province of Quebec.

It’s about to get personal — in more ways than one.

A bit further down, I’m going to tell you where I live. That’s right.

But more importantly, this blog will cover personal condo insurance.

If you’re buying or renting and want to know the condo insurance requirements and how to buy condo insurance, then this blog is for you.

Note: If you’re looking for information about syndicate or condo corporation insurance, please consult the landlord insurance page on our website. 

According to KBD data, the average condo insurance cost is $610/year in the province of Quebec in 2023.

Of course, that doesn’t necessarily represent what you’ll pay.

Every policy is different.

A condo that looks like the Montreal Museum of Fine Arts is going to be a heck of a lot more expensive to insure than an empty loft with nothing on the walls and nothing more expensive than the TV.

Here’s the simplified version of a condo policy:

  • Personal belongings coverage
  • Condo liability insurance
  • Loss assessment coverage
  • Condo improvements and betterments

For a full condo insurance picture, read our guide: Quebec Condo Insurance for Dummies.

Today’s blog won’t tell you everything about condo insurance.

Rather, we’ll focus on getting the best bang for your buck.

And, if you’re looking to speak with someone directly for a quote, we can help with that too.

Companies we work with to offer condo insurance in Quebec:

  • #1

    Intact Insurance Logo
    Intact Insurance

    Canada’s largest home, car and business insurance company with a presence in all provinces and territories.

    • Home, car and business insurance

    • Option to bundle & save

    • High customer satisfaction

    • Presence country-wide

    • Personalized service through a broker model

    KBD Insurance partners with Intact to provide condo insurance to clients in Quebec.

    Call us for a quote.
  • #2

    Economical Insurance Logo
    Economical Insurance

    Economical Insurance is a prominent Canadian property and casualty insurance provider founded in 1871.

    • Home, car and business insurance

    • Growing quickly in Quebec

    • Personalized service through a broker model

    • Excellent financial strength score from AMBest

    KBD Insurance partners with Economical to provide condo insurance to clients in Quebec. 

    Call us for a quote.
  • #3

    Promutuel Assurance Logo
    Promutuel Insurance

    A mutual insurance company that has been around since 1852, and is dedicated to the Quebec market.

    • Home, car and business insurance

    • Leisure vehicle and agriculture insurance

    • Option to bundle & save

    • Personalized service through a broker model

    KBD Insurance partners with Promutuel to provide condo insurance to clients in Quebec.

    Call us for a quote.

Now, let’s get into the good stuff.


Let’s start with something everyone wants to know: How to pay less for your insurance.

How to lower your current condo insurance price

In a recent blog post on renters insurance cost, I shared my own personal example of paying less as a renter.

I had virtually no valuables, so I stripped down my policy and went with the bare minimum: Fire and liability coverage.

You can apply that same lesson to condo insurance.

If you need to save on cost, you can always just ask your broker for lighter coverage.

Ask for named perils insurance.

That’s the type of coverage that only covers you for fire and third party liability.

Now, I’ll let you in on my life once more.

I live in the Nordelec building in Pointe-Saint-Charles and I have named perils.


My unit is almost impossible to break into! (Please, don’t take that as a challenge.)

There are cameras all over my building. I have two locks on my door. I don’t live on the ground floor.

And honestly, even if someone did break in, I think they’d be seriously disappointed — I don’t have much to steal!

If you’re like me and you live light on valuables, follow the Curtis Killen Method™.

Here are some other ways to save on your condo insurance:

  • Combine your condo + car insurance
  • If you live with a significant other and one of you has better credit, use it. Seriously, it can make a 20-30% difference.
  • If you just bought a $500k condo, don’t be the guy taking a $300 deductible. Take at least a $1,000 deductible to get a better rate.

Here’s a screenshot from our website on how to get a condo quote online if you’re looking to get started and get a rough price estimate:

how to get a condo insurance quote

How to find the lowest condo insurance quote

Two words: Shop around.

But be careful.

The most important thing when you’re shopping for quotes is to make sure you’re comparing apples to apples.

What do we mean?

If you’re comparing two quotes, make sure they include the same protections.

A condo insurance policy covering $50,000 of contents and a policy covering $20,000 of contents are going to cost different amounts.

A policy that includes water damage will cost more than one that doesn’t.

It’s all pretty logical.

If you’re like me and you don’t have a ton of expensive things, you should make that known so you can save money on your insurance. (Maybe shout it from the rooftops so the robbers know too.)

A lot of insurance companies will make an assumption about your personal contents based on your unit’s square footage and build your price that way. 

If you’re serious about saving money, take the time to calculate the value of your personal belongings.

Make a list of everything you own and its value.

If you wind up making a claim, this list will definitely come in handy!

What are “condominium insurance requirements?”

The term condo insurance requirements gets kicked around a lot, and often people overcomplicate it.

The reality is this: Just like a landlord, your condo association wants to make sure that any condo owner can be held responsible for damage they cause to the building.

In order for them to do that, owners need to carry condo liability insurance.

Most people can’t pay a few hundred grand (or more) in damages out of pocket.

So condo boards make sure they can get the insurance companies on the hook in case anything happens.

The following situation actually happened in my building. (You know where I live.)

An owner started their dishwasher and then left the building while it ran.

Typically, no problem — but this time, a pipe burst sending water in all directions, including into the units directly below.

In order for the condo association and the owners that became innocent victims to be reimbursed for the damages, that dishwashing bandit had to hit up their condo insurance company.

If the board hadn’t required them to have insurance (and they chose not to), they’d be stuck paying a huge sum out of pocket.

And the condo association would probably be chasing them for a while to collect.

How to find condo insurance online

Who needs a condo insurance calculator when you can get accurate quotes in less than five minutes with KBD!

condo insurance quote

We offer condo insurance quotes online which compare rates from three of Canada’s leading condo insurance companies. They are:

  • Intact
  • Economical
  • L’Unique

As per usual, a good way to save and find great rates is to shop around online and do your homework!

Here are some companies with whom you can find a competitive online condo insurance quote:


Death, taxes, and rising insurance rates.

Like your condo fees, your grocery bill, and pretty much everything else in the world, your condo premiums will go up every year.

But if you do things right (AKA, listen to us) we promise you’ll save money.

Our specialty is condo insurance in Montreal — I mean, you know I personally have it.

But we also provide the product to residents across the province of Quebec.

So no matter where you are, you can hit us up for a quote.

If you want to start paying less right away, use the tips in this blog post.

Or don’t.

We won’t take it personally