Find the right insurance coverage for your Toronto condo, at the best rate.
Get expert advice and save on your Toronto condo insurance
KBD is a Canadian insurance broker pairing 40+ years of industry experience with a seamless customer experience.
We provide our clients with the best condominium insurance service through a quick & easy process.
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Toronto condo insurance products we provide
Condo liability insurance
This coverage protects you and your dependents against claims related to accidental damages to the condo building.
Condo contents insurance
Contents insurance covers your personal belongings in the case of theft, vandalism, and other damages to your personal property.
Water damage insurance
Water-related damages are some of the most common we see. Ensure that your condo unit and personal belongings are properly protected with this coverage.
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Toronto Condo Insurance - FAQs
What type of home insurance do you get for a Toronto condo?
There are several kinds of property insurance designed to cover different types of homes.
Condo insurance is the coverage that’s specifically designated for condominium owners.
So, if you own a condo – purchase condo insurance!
The exception to this is if you rent a condo. In this case, you should shop for tenant insurance.
Need Toronto condo insurance?
What does condo corporation insurance cover?
Condo corporation insurance, also known as “condo association insurance” is an insurance policy that you pay into as part of your condo fees.
This insurance covers the shared areas of the condo building, like the lobby, gym, and parking garage.
Typically, the homeowners association arranges to have condo corporation insurance in place.
Owners of the individual condo units are responsible for purchasing personal condo insurance.
This coverage protects them against liability, and if there are damages to their unit and personal belongings.
Have questions about your condo insurance?
Why are condo insurance rates increasing in Toronto?
There are a number of reasons that you might be seeing condo insurance rates going up in Toronto.
For instance, here are just a few factors that can influence your condo insurance premium:
- Changes in the local real estate market, such as an increase in fees
- A general increase in claims throughout the city
- Fluctuations in the insurance market
Condo insurance prices can also be influenced by factors like the type of building, coverage amounts chosen by the policyholder, the location, the value of your belongings, and more.
But, if you’re still wondering why your condo insurance is going up, the best way to get an accurate estimate of your condo insurance costs is to get a custom quote.
We can help with that.
How to get cheap condo insurance in Toronto?
Condo insurance prices fluctuate with the overall market. That said, there are a few ways to ensure that you’re getting the cheapest condo insurance rate possible.
Here are a few reliable ways to lower your monthly condo insurance costs:
- Increase your monthly deductible
- Bundle your condo and auto policies
- Shop around for lower rates
- Review your coverage annually
- Ask about discounts that may be available
Ready to review your Toronto condo insurance rate?
What kind of insurance do Toronto condo owners need?
There are two types of condo insurance that Toronto condo owners should have in place.
They include:
- Condo association insurance: This is purchased by the homeowners/condo association, and condo owners will pay into it as part of their condo fees.
- Personal condo insurance: As a condo owner, you’re responsible for having personal condo insurance in place. It covers things like your personal belongings, and any damages that are made to renovations and improvements you’ve made to your condominium.
The coverages within personal condo insurance include condo liability insurance, contents coverage, and water damage protections.
Ready for a condo insurance quote?
What’s the average cost of condo insurance in Toronto?
So, how much is condo insurance in Toronto?
On average, Toronto condo insurance will cost you $312 a year, or $26 a month.
Having said that, your personal condo insurance premium will vary depending on several factors.
This includes things like the year of construction, the location, the number of units in the building, and more.
As always, the best way to get an accurate estimate of your Toronto condo insurance is to get a quote.
The team at KBD can help with that.
What does personal condo insurance cover?
There are two types of condo insurance that should be in place to cover your Toronto condo.
The first is condo association insurance. This covers communal areas of the building, and condo owners automatically pay into it as part of their condo fees.
Personal condo insurance, on the other hand, is purchased individually, and covers your belongings, and damages to any improvements that you make to your condo unit.
Looking for personal condo insurance? We can help.
What should I ask my broker before purchasing condo insurance?
When shopping for condo insurance in Toronto, it’s a good idea to ask your insurance broker a few key questions before purchasing your policy.
Here are a few questions that your insurance broker can answer for you:
- What am I covered for under this policy?
- How much insurance coverage do I need?
- How much should my deductible be?
- Are there any discounts available?
- How do I file a claim?
Ready to speak with a Toronto condo insurance broker?
What’s the best condo insurance in Toronto?
Like all insurance policies, condo insurance is personalized coverage.
That means that no one insurance company can best serve all condo owners.
Instead, we recommend shopping around for multiple quotes through your insurance broker.
That way, you’ll be able to find the best condo insurance coverage for you – at the best rate.
Ready for a quote on your Toronto condo insurance?
How much condo insurance do I need in Toronto?
The amount of condo insurance coverage you should have depends on a variety of factors.
This includes the value of your personal property, the value of any improvements you’ve made to your condo, and your overall financial situation.
As a general rule, you should aim to have enough insurance to cover the full replacement cost of your personal property and any improvements you have made to your condo.
The best way to know how much insurance coverage is right for you is to speak with your broker.
They’ll walk you through the process and ensure that you’re properly covered.
Ready for a condo insurance quote?
What type of home insurance do you get for a Toronto condo?
There are several kinds of property insurance designed to cover different types of homes.
Condo insurance is the coverage that’s specifically designated for condominium owners.
So, if you own a condo – purchase condo insurance!
The exception to this is if you rent a condo. In this case, you should shop for tenant insurance.
Need Toronto condo insurance?
What’s the average cost of condo insurance in Toronto?
So, how much is condo insurance in Toronto?
On average, Toronto condo insurance will cost you $312 a year, or $26 a month.
Having said that, your personal condo insurance premium will vary depending on several factors.
This includes things like the year of construction, the location, the number of units in the building, and more.
As always, the best way to get an accurate estimate of your Toronto condo insurance is to get a quote.
The team at KBD can help with that.
What does condo corporation insurance cover?
Condo corporation insurance, also known as “condo association insurance” is an insurance policy that you pay into as part of your condo fees.
This insurance covers the shared areas of the condo building, like the lobby, gym, and parking garage.
Typically, the homeowners association arranges to have condo corporation insurance in place.
Owners of the individual condo units are responsible for purchasing personal condo insurance.
This coverage protects them against liability, and if there are damages to their unit and personal belongings.
Have questions about your condo insurance?
What does personal condo insurance cover?
There are two types of condo insurance that should be in place to cover your Toronto condo.
The first is condo association insurance. This covers communal areas of the building, and condo owners automatically pay into it as part of their condo fees.
Personal condo insurance, on the other hand, is purchased individually, and covers your belongings, and damages to any improvements that you make to your condo unit.
Looking for personal condo insurance? We can help.
Why are condo insurance rates increasing in Toronto?
There are a number of reasons that you might be seeing condo insurance rates going up in Toronto.
For instance, here are just a few factors that can influence your condo insurance premium:
- Changes in the local real estate market, such as an increase in fees
- A general increase in claims throughout the city
- Fluctuations in the insurance market
Condo insurance prices can also be influenced by factors like the type of building, coverage amounts chosen by the policyholder, the location, the value of your belongings, and more.
But, if you’re still wondering why your condo insurance is going up, the best way to get an accurate estimate of your condo insurance costs is to get a custom quote.
We can help with that.
What should I ask my broker before purchasing condo insurance?
When shopping for condo insurance in Toronto, it’s a good idea to ask your insurance broker a few key questions before purchasing your policy.
Here are a few questions that your insurance broker can answer for you:
- What am I covered for under this policy?
- How much insurance coverage do I need?
- How much should my deductible be?
- Are there any discounts available?
- How do I file a claim?
Ready to speak with a Toronto condo insurance broker?
How to get cheap condo insurance in Toronto?
Condo insurance prices fluctuate with the overall market. That said, there are a few ways to ensure that you’re getting the cheapest condo insurance rate possible.
Here are a few reliable ways to lower your monthly condo insurance costs:
- Increase your monthly deductible
- Bundle your condo and auto policies
- Shop around for lower rates
- Review your coverage annually
- Ask about discounts that may be available
Ready to review your Toronto condo insurance rate?
What’s the best condo insurance in Toronto?
Like all insurance policies, condo insurance is personalized coverage.
That means that no one insurance company can best serve all condo owners.
Instead, we recommend shopping around for multiple quotes through your insurance broker.
That way, you’ll be able to find the best condo insurance coverage for you – at the best rate.
Ready for a quote on your Toronto condo insurance?
What kind of insurance do Toronto condo owners need?
There are two types of condo insurance that Toronto condo owners should have in place.
They include:
- Condo association insurance: This is purchased by the homeowners/condo association, and condo owners will pay into it as part of their condo fees.
- Personal condo insurance: As a condo owner, you’re responsible for having personal condo insurance in place. It covers things like your personal belongings, and any damages that are made to renovations and improvements you’ve made to your condominium.
The coverages within personal condo insurance include condo liability insurance, contents coverage, and water damage protections.
Ready for a condo insurance quote?
How much condo insurance do I need in Toronto?
The amount of condo insurance coverage you should have depends on a variety of factors.
This includes the value of your personal property, the value of any improvements you’ve made to your condo, and your overall financial situation.
As a general rule, you should aim to have enough insurance to cover the full replacement cost of your personal property and any improvements you have made to your condo.
The best way to know how much insurance coverage is right for you is to speak with your broker.
They’ll walk you through the process and ensure that you’re properly covered.
Ready for a condo insurance quote?