Condo Insurance Aurora
It’s easy to see why you might decide to invest in a condo in Aurora. Gorgeous Lake Ontario and Lake Simcoe surround this small town. Aurora residents are spoiled with waterfront views and historic sites, including the Northeast Old Aurora Heritage Conservation District.
On top of that, the cost of living in Aurora is more affordable than in Toronto, and you’re only 50km away from the big city. Make your life even more convenient by buying a condo!
Found the perfect spot? Now you’re searching for a great rate on your condo insurance in Aurora. At Westland, we’ll help you find insurance that’s tailored to your lifestyle and your budget.
Condo Insurance Explained
Not sure exactly how condo insurance works? You’re not alone. Many condo owners have questions about the limits of their coverage, which perils are insured, and whether they’re responsible for damage in common areas.
We’re going to clear it all up for you. Here’s what gets included with your condo insurance policy:
If you need to make a claim due to theft or other damage, this coverage will pay to replace your belongings.
Now, if you had to guess, how much do you think your personal belongings are worth?
The answer is vital for your condo insurance policy. When you’re choosing your coverage, you need to select a limit. This amount specifies exactly how much you’ll be reimbursed if your personal belongings are damaged or stolen.
Choose a limit that accurately reflects the value of your belongings, and you’ll thank yourself for it if you need to make a claim.
Each time you make improvements to your condo, its value goes up. Your insurance policy only protects you up to a certain amount. If the cost of property damage goes beyond that amount, you won’t be fully covered.
Why do you need liability insurance? Because accidents happen, either in your condo or when you’re out and about. Liability insurance can help you pay for legal fees and medical expenses that may arise if someone is injured in your condo or if you cause property damage to another unit.
You’ve just heard that your condo insurance claim will be covered. But what about the expenses you’ll face if your condo is being repaired?
Condo insurance covers the cost of alternative living arrangements while your unit is being repaired. You’ll be reimbursed for hotel fees and meals until you can return home.
As a condo owner, you’re responsible for common areas in the building, including the pool, elevators, and lobby. If these areas are damaged, you may be required to pay for part of the cost. Loss assessment insurance will help you cover it.
How Much Does Condo Insurance Cost?
So, how much will you need to pay to insure your condo? Costs vary from city to city and province to province. Based on our data, we’ve found that the average cost of condo insurance in Canada is $32/month. But in Aurora, your insurance rates will change depending on experience ratings, exposure to risk, and claims data.
Did you know? You can pay for condo insurance in monthly or annual installments. Your insurance provider may offer you a discount for paying annually.
What Factors Determine the Cost of Condo Insurance?
Your insurance policy premiums will vary based on the following:
- Claims History
- Credit Score
- Property Type
- Upgrades and Improvements
- Building Construction
How To Save on Condo Insurance
Take advantage of the following discounts to save even more on your insurance in Aurora:
- Mature Customer
- Claims Free
- Local or Monitored Alarm
- Water Leak Detection Device
- Company Loyalty
Need more coverage? You can choose from the following add-ons. Keep in mind that your eligibility for these options depends on your location and lifestyle.
Planning to take your boat on one of Aurora’s lakes? Then you’ll need watercraft insurance. It protects your boat and protects you from liability claims.
Not all water damage claims will be covered by standard condo insurance. If you’re concerned about flooding from lakes overflowing, excessive rainfall, or snowmelt, let us know. We can see if you qualify for overland water coverage.
Sewer backups can happen when tree roots interfere with underground lines or clogs form in pipes. Not only is sewage backup a health hazard, but it also causes extensive property damage. With this optional add-on, you can protect yourself from the cost of sewer backup issues.
Working from home? Maybe you’ve decided to run your business from your condo. If so, you’ll need extra coverage for liability issues if clients visit your home, and contents coverage for your office equipment.
- Identity Theft
- Service Line Coverage
- Home System Protection/Home Equipment
- Condo Unit Owners Loss Assessment
- Condo Unit Owners Improvement Coverage
- Condo Deductible Assessment
Give us a call, and we’ll be happy to walk through your options with you.
Every condo faces a different set of risks. At Westland Insurance, water damage is one of the most common claims we see with condos.
With condo insurance, you can mitigate the risk of water damage and recover faster when accidents happen. Let us help you find the coverage you need to keep your investment safe.
Why Choose Westland?
At Westland, we believe that insurance doesn’t have to be complicated. We’re always working hard to serve you better. That’s why we pair excellent customer service with expert advice from knowledgeable insurance advisors.
When you work with us, you can expect transparent communication and experienced advice. Our brokers work for you to get you the best price and top advice about your insurance.
Get Competitive Condo Insurance Quotes With Westland!
With condo insurance on Ontario, you’ll know that your investment is protected from a wide range of risks. Feel confident moving into your condo with the coverage you need.
Whether you’re seeking insurance services or a quote, one of our advisors is here to help. We can inform you about a variety of insurance products, including auto insurance, home insurance, and tenant insurance.
At Westland Insurance, we’ll guide you to the right condo insurance solution for your lifestyle in Aurora, contact us today!