Buying Condo Insurance in BC

Condo Insurance is specifically designed for BC condo owners or owners who have stratified their duplex units and require contents coverage. Condo and townhouse owners have unique insurance needs, particularly compared to owners of detached homes. While the Strata covers damage to the building, it does not protect your possession inside your unit. As a result, Condo Insurance is designed to protect gaps that may exist in Strata corporation insurance policies and is generally quite simple to purchase.

What's Covered by Condo Insurance in BC?

Do you need to increase your limit as a result of your Strata Water Deductible having gone up? Check out our excess coverage.

How much does condo insurance cost in BC?

One major benefit of condo insurance is that it is generally inexpensive to purchase. Despite condo insurance rates in Vancouver being on the rise recently, the annual cost of a typical condo insurance policy in Vancouver does not have to set you back more than $400-$500/year, depending on the insurance coverage you select.

More than anything, however, for those who own or are looking to buy a condo in Metro Vancouver, or other parts of the province, it is important to find a condo insurance policy that fits the unique needs of both your individual unit as well as the strata corporation. 

Be forewarned that it is not always about the lowest rate when it comes to reviewing insurance quotes. Make sure your insurance company provides coverage for the areas you need, whether that’s a certain type of replacement cost coverage or special coverage to protect you from possible water damage.

Our Online Condo Coverage Details

Our online condo insurance policy offers a comprehensive all-inclusive insurance offering specifically for our BC customers. It features a series of industry-leading coverages, elevated coverage limits, and it’s backed by superior, locally operated claims service. We have featured some of the key components of our online condo policy below:

Coverage Type Details
All-Inclusive Condo Protection
  • Up to $1 million including:
    • Improvements & Betterments
    • Contingent Coverage
    • Loss Assessment Coverage for Property
Personal Contents
  • $30,000 to $150,000
Personal Liability
  • Up to $2,000,000
Additional Living Expenses
  • 200% of Contents Limit Selected
Condo Deductible Protection for Property
  • Up to $75,000
Loss Assessment Liability
  • Included – Per liability limit
Condo Deductible Protection for Liability
  • Up to $50,000
Sewer Back-up
  • Up to Contents Limit Selected – If eligible
Identity Theft
  • $15,000
Jewellery, Watches, Gems
  • $10,000
And More!

- Coverages subject to eligibility and may change at any time.

Enhance Your Coverage with Optional Add-Ons & Customizations


Water protection

This coverage provides broader water damage protection in the case of loss or damage caused by and happening at the same time as surface water, groundwater or sewer back up events. The coverage limits are the same as those available for Sewer Backup but may not be available to all BC residents, and is subject to the policy deductible.


Earthquakes are common in BC, with an average of 3,000 reported each year. To cover any damage caused to your condo as a direct result of a seismic event, you can add earthquake coverage to your condo insurance policy.


Other Customizations

In addition to a number of important add-ons, our online Condo policy provides you with a number of flexible and customizable coverage options. For example, you can select your policy deductible, condo deductible protection limit, personal property limit, and even schedule special items such as jewelry, bicycles, and other items.

Online Condo insurance that meets your needs

Whether you want the basic package that covers the essential items or a more customized option for your special needs, we have you covered.

Choose from one of the bundled packages, especially designed for your needs, including:

Customize your policy further:

Whether you want the basic package that covers the essential items or a more customized option for your special needs, we have you covered.

Frequently Asked Questions

Condo insurance is complicated. Below are a few answers to frequently asked questions about condo insurance coverage, deductible options and the premiums associated with it.

Typically, for those who own and live in their condo year-round, their condo insurance policy covers the following items:
  • Personal Belongings
  • Improvements and Betterments 
  • Personal Liability 
  • Loss Assessment Coverage
There are additional coverages that we would strongly recommend, such as Earthquake Coverage and Enhanced Water Coverage. If you’re not sure what coverages to purchase, or would like to know more about each of them, don’t hesitate to contact one of our insurance advisors.
The amount of insurance you need is typically based on the combined value of your personal belongings that you own and are located in your condo, your storage unit, or elsewhere, on a temporary basis. For a typical policy, with one named insured.

The insurance company considers every little thing required to rebuild your home to the same state it was, prior to experiencing the loss. This includes items such as the number of stories of the home, the area covered by the dwelling, the possible presence of a garage, and even down to the basement, whether it was fully finished or not.

It’s important to remember that the value you insure your home for is not necessarily a reflection of the current market value of your home or how much you think you could get for your home if you were to sell it today.
It’s a common question we get—"I live on the 12th floor of a high-rise, why would I need sewer backup coverage?" While it’s an optional coverage, we would strongly recommend anyone living in a condo to purchase this coverage.

Many of the larger, multi-floor condo buildings experience occasional blockages of pipes between floors. And when that happens, something as simple as turning on a dishwasher, or running a bathtub can lead to huge water damage issues, as the water ends up backing up and flowing up sinks and toilets in other units. Situations like this, while typically nothing to do with the sewer, is ordinarily covered by sewer back-up insurance.
If you are renting a condo, you do not need to purchase condo insurance, but you’ll need a Renters Insurance policy instead. The person you are renting the condo from should have a rented condo policy in place, which protects their unit and all the improvements and betterments should you experience a claim. Renters still need to purchase a Tenants policy that protects their personal contents (possessions) as well as any possible liability exposure. You can purchase a Renters insurance policy.
Absolutely! But, rather than a Condo policy, you’ll need a Rented Condo policy, also known as a Landlord policy. These differ significantly from a Condo policy where you live in the unit yourself as the exposures are somewhat different. You can get a quote for your Landlord insurance policy here. Those who use their Condo for occasional Airbnb rentals will require a different policy again, as the exposures are somewhat different. If you’re not sure which policy to purchase, don’t hesitate to contact one of our insurance advisors.
Yes, we are! As one of BC’s largest insurance brokerage groups in the insurance industry, we provide comprehensive insurance products and services to more than 700,000 customers annually through our network of 975 employees. We represent a number of different insurance companies so that we find the best value and a policy that meets your unique insurance needs. We offer our products and services online and walk-in offices

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