Compare Cheap Vancouver Condo Insurance Quotes

The cost of condo insurance varies, but generally speaking, you’re likely to pay at least $20-30 a month if you live in an urban center.

In addition to any savings, discounts may be available to those who: 

• Bundle condo insurance with any other insurance policy. Bundling home and auto insurance is a very common approach.
• Have monitored fire, burglar and CO2 alarms.
• Don’t smoke.
• Have paid off their mortgage.

You may also qualify for a discount if: 

• You’re above a certain age - 65 and older.
• You’ve been with the same insurer for several years.
• Your condo is a recent build.
• You have not recently made a home insurance claim.

No condo insurance provider in Vancouver offers cheap, flat-rate insurance. Instead, getting the best coverage means securing a policy that meets your needs at the lowest possible rate. Comparing rates is one of the most effective ways to reduce insurance costs. We recommend that you use our free online tool to compare condo insurance rates from dozens of the most-trusted providers in Canada. 

If your unit is damaged by a covered peril, we recommend that you immediately contact your insurance provider. While they’ll guide you through the claims process, it helps if you’ve taken an inventory of your belongings beforehand. This can be achieved with a simple video shot on your phone or by tracking items on a spreadsheet. There are also many free apps that will help itemize everything in your condo.

Yes, most condo insurance policies cover the cost of replacing appliances damaged by covered perils. However, they don't cover costs resulting from day-to-day use. 

It’s an individual choice that depends on your priorities. If you’re most interested in a low premium, you can secure a policy with basic coverage. However, this approach means that your unit and its contents are damaged, and you may not be compensated as much as you’d like. 

An important consideration for any home insurance policy is whether to opt for replacement cost or actual cash value. The former means that you’ll be compensated for the full cost of a damaged item without its depreciation being factored in. The latter means that you’ll be compensated for the item's current value, i.e., with depreciation factored in. When you opt for actual cash value, you may be able to lower the overall cost of your coverage.  

Yes. The building's insurance policy will not extend to your specific unit. It protects against any damage to common areas and shared spaces.