Condo insurance from Allstate® Canada
You’ve found a great condo. A comfortable place where you can relax and spend quality time with family and friends. Your home is important to you, and it’s filled with your most valued possessions. That’s why it’s important to ensure your condo insurance meets your needs. Your condo corporation (syndicate in Quebec) will have insurance in place for common areas (such as the elevators or front lobby). But you still need take care of coverage for your personal belongings. And don’t forget you’ll need protection against liability in the event of an accident. Need help deciding on the right coverage? Allstate is here for you. Our expertise and range of personalized options ensure you’re in Good Hands®.
Don’t own your condo? Allstate also offers tenant insurance.
Here’s what Allstate’s condo insurance includes:
- Coverage for additions and alterations: Covers upgrades to your unit e.g. updates to kitchen cabinets.
- Unit Contingent Coverage: Insures your unit so that you are protected if your condominium corporation’s (syndicate in Quebec) insurance is enough.
- Loss Assessment Coverage: Provides coverage (up to a stated limit) to cover major property and liability losses on common property (e.g. laundry room, fitness room) when a special assessment is levied against you and other unit holders. Also provides protection in case you're assessed a portion of a loss due to the corporation’s deductible
Want to save more on your insurance?
At Allstate, we know you want the best value for your money. That’s why we’re pleased to offer you more ways to save. One way to reduce costs is to increase your deductible. Combining your property and auto insurance with Allstate can also help you save on both policies. In addition, we provide discounts for homes with monitored security systems and a discount when you combine your home and auto with Allstate. Ready to enjoy big savings? Contact your local Allstate agent today to find out which discounts you qualify for.
Buying a condo? Key questions to ask
To avoid gaps in coverage, you need to know what is already insured by your condo corporation’s policy. Here are some key questions to ask to determine what you need out of your condo insurance:
- Does your condo corporation require all owners to purchase personal condo insurance?
- Do they have an outline that explains what portions of your unit are not covered by their insurance?
- What is the deductible on your condo corporation’s policy for damages to the building’s common areas?
- Has your condo corporation ever raised the deductibles on their insurance?
- Who is responsible for damages to your unit as a result of fire that occurs in a neighbour’s unit?
- Who is responsible for repairs if your car is damaged in the underground parking lot?