Condo Insurance Burlington
Don’t want to spend your weekends in Burlington mowing the lawn or shovelling the driveway? Then you’ll definitely be interested in owning a condo!
You’d rather spend your time enjoying the sights in Burlington. Head to Spencer Smith Park to see the gorgeous shoreline walking path. Near the park, you can visit the Art Gallery of Burlington, Brant Street Pier, and the Royal Canadian Naval Memorial.
Navigating Burlington is easy, and at Westland Insurance, we make it easy to navigate your insurance coverage, too. Our local insurance experts are here to help you find the right insurance in Burlington, Ontario, for your condo.
With our services, you can leave the paperwork to us and get back to doing what you enjoy most.
Condo Insurance Explained
Sometimes, it feels like you need an instruction manual just to understand your insurance. Policies can be complicated, but at Westland, we aim to simplify that.
Your condo is a significant investment. And it’s one you need to protect. But your condo is exposed to all kinds of risks, from water damage to theft.
Here’s an overview of what you need to know about your condominium insurance in Burlington:
Liability coverage applies to a few different scenarios. It covers you if someone is injured while visiting your home. It also applies if you’re at someone else’s home and accidentally cause property damage or bodily injury.
From medical expenses to legal fees, incidents like these can carry enormous costs. With condo insurance in Burlington, your personal liability policy will kick in to cover these expenses.
Accidents happen—even ones that don’t involve you. If a common area in the building is damaged, the condo association may have insufficient funds to cover the costs, and you might be on the hook. Cover your share with loss assessment insurance.
If your condo is being repaired due to fire damage or another insured peril, you’ll need another place to stay. Cover the cost of your alternate living arrangements with condo insurance, which applies to hotel fees and takeout meals. The coverage will continue until your condo is safe to inhabit again.
You own more than just the condo unit—you also own the contents within it. Your insurance policy offers protection for all your belongings. It also applies to items you keep in a storage locker within the building.
If you have highly valuable items, we recommend extending your coverage beyond the standard amount. For example, if you collect art, have a custom-built gaming PC, or own precious jewellery, the replacement costs may go beyond what a basic policy covers.
One of the best parts about owning a condo? You can renovate it however you like. Change the countertops, replace the lighting fixtures, or install new flooring. The sky’s the limit (especially if you live in a high-rise condo building).
That being said, you must remember to update the limits on your insurance policy. Each upgrade you make will increase the value of your property. To make sure you have the right coverage, factor in any renovations when you’re choosing a policy limit.
How Much Does Condo Insurance Cost?
Across Canada, the average monthly cost of condo insurance is $32. But this varies from city to city; for example, it’s $46 in Thunder Bay and $67 in Kenora.
But how much will your condo insurance in Burlington cost? To find out, ask yourself:
- How much insurance do I need?
- What is my risk exposure level?
- What is the total value of my condo?
These factors play a major role in how much your condo or homeowners insurance will cost. Once you get a ballpark of how much insurance you need, our advisors can do the rest.
We’ll explain more about what affects your costs in the next section:
What Factors Determine the Cost of Condo Insurance?
You’re trying to gauge exactly how much you’ll be paying for condo insurance in Burlington every month. To get an idea of what your costs will be, here’s a list of factors that will increase or decrease your costs:
- Claims History. Never made an insurance claim before? That’s great! You’ll pay less in premiums. Each claim you make will affect your rates, so choose carefully.
- Credit Score. If you have a good credit score, it could help you out when it comes to your insurance. Ask your insurance provider to do a soft touch credit check, and you may get a discount.
- Building Construction. What materials is your condo building made of? What year was it built? Factors like these will make your insurance more or less expensive.
- Property Type. The type of condo you own will also affect your costs.
- Location. Your location directly affects the likelihood of various risks.
- Upgrades and Improvements. What is the total value of your unit? The more it costs to rebuild it, the more it will cost to insure it!
If you want a more specific quote, reach out to us! We can provide you with a condo insurance quote in just a few minutes.
Optional Protection
Want more coverage? Let us know, and we’ll be happy to expand your policy. Policy add-ons help protect you against a wider range of risks. You can choose from additional coverage such as:
- Identity Theft
If someone steals your personal financial information, it can be quite the headache to sort out, not to mention a significant expense. This insurance will help you restore your identity following an incident of theft or fraud. - Home-Based Business
Do you use your condo to meet with business clients? If so, you need insurance tailored to your unique liability risks. That’s what home-based business insurance is for. - Sewer Backup
A sewer system can back up after a heavy rainstorm or plumbing failure. Get covered for damages caused by standing sewage with this add-on.
Other optional protection policies we offer include:
- Home System Protection/Home Equipment Breakdown
- Overland Water
- Watercraft
- Service Line Coverage
- Condo Unit Owners Loss Assessment Coverage
- Condo Unit Owners Improvement Coverage
- Condo Deductible Assessment
Why Choose Westland?
There are dozens of insurance companies in Burlington. But when you work with Westland, you’ll see the difference that our expert insurance brokers make.
You know you need to insure your belongings. But who’s responsible for insuring common areas? What about special assessments? And what if you accidentally cause damage to a neighbour’s unit?
We’re here to answer all your questions and more. We know that every condo owner has different insurance needs. That’s why we work hard to tailor your policy to suit your condo and your budget. The result is a policy that’s more affordable, more comprehensive, and more suited to your lifestyle.
Claims Example
Worried about water damage? It’s one of the most common claims we see in condo buildings. You might deal with water damage from a broken water supply line or faulty appliance. Even a small leak can lead to thousands of dollars of damage.
With the right Ontario condo insurance policy, you can get covered for common claims like these. Enjoy peace of mind knowing you’ll have protection when you need it most.
How To Save on Condo Insurance
Any measure you take to lower the likelihood of a claim will help keep your insurance costs low. You can lower your monthly premiums with these tips:
- Local or monitored alarm. Are you concerned about a break-in? Lower the chances of theft or vandalism by setting up a security system.
- Sprinkler. If your building doesn’t already have a sprinkler system, consider installing one in your unit. You may be eligible for a discount. Be sure to have your sprinkler system maintained regularly.
- Water leak detection device. These devices monitor the plumbing lines in your unit and automatically shut off the supply if a problem is detected. They can help prevent leaks or water damage, saving you from making an insurance claim.
- Company loyalty. Stay with the same insurance company for a few years, and you may get a discount the next time you renew your policy.
- Mature customer. Some insurance providers offer discounts to customers over a certain age.
- Claims free. Be selective about when you make a claim because each time you do, it raises the cost of your condo insurance.
Get a Condo Insurance Quote With Westland Today!
At our insurance company, customer satisfaction is our top priority. We’re always working hard to find you the best rates, customize your coverage, and answer any questions you may have.
We make it extremely easy to get the insurance you need. Reach out to us, provide us with a few key details, and we’ll get back to you with a quote right away. We can find you affordable tenant insurance, home insurance, auto insurance, and more.
Contact us today for insurance in Burlington, Ontario!
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Whether you’re looking for insurance for your first home or wanting to discuss your existing policy, our team is ready to help. Connect with us today.
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