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Condo insurance

More than just
contents coverage

Get coverage for your belongings,
upgrades and yourself.

What’s included in condo insurance?

Just like your condo offers amenities that fit your lifestyle and budget, your condo insurance should do the same. Since you don’t own the building outright, condo insurance coverage is designed to protect:

  • Your personal property (contents)
  • Personal liability, should someone hurt themselves while visiting your home
  • Your investments in any upgrades you’ve made to your unit
  • Your shared responsibility of common areas
  • Your condo unit in case your condominium corporation’s insurance doesn’t cover your loss fully

There’s a TD Insurance Home Advantage package that’s right for you.

Platinum Plus Advantage

  • You want the most coverage for your valuables (such as jewellery).
  • You want replacement cost protection but don’t want to be obligated to use the funds for that purpose.

Platinum Advantage

  • You want all-risk protection for your home (building) and property (contents).
  • You want a greater coverage amount for valuables and possessions than offered with Gold or Silver Advantage packages.

Gold Advantage

  • You want all-risk protection for your home (building) and property (contents).
  • Affordability is important

Here are brief explanations of the terms used to describe our Home Insurance Advantage packages:

  • All-risk coverage is also known as all-perils coverage and provides insurance for common types of loss (e.g. fire, theft, etc.). It clearly states what is excluded.
  • Designated-risk coverage is also known as named-perils coverage and names the specific types of risk that are included in your coverage.

To learn more, go to The benefits of home insurance page.

Why do I need condo insurance? Doesn't the condominium's own insurance cover everything?
Actually, you need two types of coverage to be fully protected:

Your own policy to protect your personal property, upgrades to your unit and personal liability should anyone hurt themselves while visiting your unit.

You also want loss assessment coverage. While you own your unit, you also own a share of the common (or shared) areas of your condominium (like the lobby, roof, swimming pool, garden and so on). When it comes to personal liability, you may be held responsible if someone hurts themselves in a common area or if you cause damage to a common area.

What's considered standard on home insurance coverage?
While policies can differ greatly, there are some standards features that are part of just about every home insurance plan, including:

  • Building coverage — if you own a house or condo (if you need it)
  • Contents — your personal property
  • Personal liability — should someone hurt themselves while visiting your home
  • Additional living expenses — for temporary accommodations and expenses if you cannot live at home due to covered loss or damage

How are home insurance premiums calculated?
Many factors are taken into account when calculating home insurance, including:

  • Geography — Are you in a high theft area?
  • Amount of coverage — The higher the coverage amount, the higher your rates.
  • Optional coverage add-ons — For example, since water damage coverage does not cover floods, you may want to add optional coverage such as sewer back-up water damage coverage.
  • Your deductible — You can choose to lower or raise your deductible (the amount you pay on a claim). The higher your deductible, the lower your premiums.
  • Safety features — An alarm system, smoke detectors and other security features may help reduce the cost of your home insurance.

See more questions and answers.

To help you get the right condo insurance coverage, we’ll need some information about the condo you want to insure. To make the process even quicker, gather the following information before you start:

  • Postal code
  • Year condo was built
  • Heating system
  • Alarm system (if any)
  • Number of smoke detectors
  • Your claims history (reason, year and month)

Once a quote is generated, you’ll be able to choose between applicable Advantage home insurance options and recalculate your premiums.

Get a Quote

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Why choose TD Insurance?