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Condo insurance built around your unit, not just the building.

Tell us about the unit, your belongings and the condo corporation. We’ll help you compare coverage options that fit.

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WHAT IT CAN INCLUDE

The main parts of a condo policy.

Personal Property

Coverage for belongings inside the unit, subject to policy limits and exclusions.

Unit Improvements

Coverage may apply to upgrades or improvements made to the unit.

Personal Liability

May respond to certain claims if you are legally responsible for injury or property damage.

Additional Living Expenses

May help with certain extra living costs after an insured loss.

Loss Assessment

May provide coverage in some situations where the condo corporation assesses unit owners for certain insured losses.

Condo Deductible Assessment

Coverage may be available where the condo corporation charges back part of a deductible, depending on the policy.

What a policy actually includes varies by insurer. A broker can confirm the wording before you buy.

WHAT AFFECTS THE PRICE

What insurers look at.

Location

Unit value and improvements

Personal property value

Building age

Claims history

Deductible

Loss assessment limits

Optional water coverage

Occupancy

Bundling where applicable

BEFORE YOU QUOTE

What we’ll ask you.

01

What is the condo address?

02

Do you own and occupy the unit?

03

What improvements have been made?

04

What is the value of your belongings?

05

What does the condo corporation require?

06

What does your current insurance look like?

WHEN THINGS CHANGE

Times to review your condo insurance.

Renovating the unit

Improvements you pay for are usually yours to insure.

Buying furniture or electronics

Higher contents value may need a higher limit.

Corporation deductible changes

A larger corporation deductible can shift more to you.

Renting out the unit

Tenant-occupied units are written differently.

Moving

A new building and a new unit are rated fresh.

Adding a home office

Business equipment and visitors may need separate coverage.

Major building repairs

Assessments can reach unit owners, depending on the policy.

CONDO + AUTO

Insuring your car too?

Putting condo and auto with the same insurer may simplify your policies and can sometimes reduce the overall premium.

Get a Condo + Auto Quote

View Auto Insurance →

WHY HIFA

More than a renewal price.

WE COMPARE OPTIONS

A broker can compare available insurer options for your unit.

WE EXPLAIN CONDO-SPECIFIC GAPS

Unit improvements, assessments and corporation deductibles can matter.

WE’RE HERE WHEN THINGS CHANGE

Move, renovation, new assessment or claim — you can call a real broker.

Common questions

Condo insurance questions.

Why do I need condo insurance if the building is insured?
The corporation’s policy covers the building and common elements, not what is inside your unit. Your belongings, your improvements and your personal liability sit with you. Depending on the policy, you may also be exposed to loss assessments and the corporation’s deductible.
What is loss assessment coverage?
If the building suffers a massive loss and the master policy is insufficient, the corporation can assess a special fee to all unit owners. This coverage pays your assessed share.
What is condo deductible assessment coverage?
If a loss originating in your unit triggers a claim on the corporation's policy, the corporation can charge its deductible back to you. Those deductibles have risen substantially in recent years. This is frequently the largest single condo exposure and the one most often left at a default limit that no longer matches reality.
Are improvements to my unit covered?
If you (or a previous owner) installed hardwood floors, custom cabinets, or high-end fixtures, the master policy only replaces 'standard builder grade.' Your condo policy covers the upgraded value.
Can I rent out my condo under my current policy?
Usually not without a change. An owner-occupied unit policy and a rented-unit policy address different exposures, and your tenant needs their own contents and liability coverage. Tell your broker before the tenancy starts so the policy can be rewritten appropriately.
Can I bundle condo and auto insurance?
Yes, and it is usually worth doing. Reviewing both allows multi-line discounts to be considered and lets the broker spot exposures that sit across the boundary — a vehicle kept in the building's underground parking, for example.

READY TO COMPARE?

Let’s find the right condo insurance option.

Tell us about the unit, the building and what you own. A HIFA broker can help you compare the options.

Get a Condo Quote

Book a Call

Want to talk now?

905-573-7471

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