Condo Insurance Markham

With a robust local economy, Markham is a great place to live for over 300,000 people. This city is just 30 minutes away from downtown Toronto, so plenty of people choose to live in Markham and commute to work. A few top attractions here include the open-air Markham Museum, the gorgeous Milne Dam Conservation Park, and the Flato Markham Theatre.

Once you find the perfect condo to call home, the next step is insuring it. At Westland Insurance, we can assist you with that.

Whether you’ve decided to downsize, buy property for the first time, or say goodbye to all the maintenance owning a home entails, a condo is a great solution. And at Westland Insurance, we’re here to help you protect your condo.

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Best Condo Insurance Rates in Markham

Why pay more than you need to for insurance? We’ll get you the best rates so you can pay less for the coverage you need. That’s the advantage of having an expert insurance advisor by your side.

When you pay less for insurance, you can spend more on the things you love—like eating out at some of Markham’s best restaurants, filling your condo with unique furniture, and planning experiences with the people you love! Unlock more freedom and peace of mind when you have condo insurance in Markham.

Condo Insurance Explained

Now you might be thinking: What exactly does my condo insurance cover? Condo insurance covers your personal belongings, the interior of your unit, and liability concerns. It protects you from a range of common perils, including fire, wind damage, and theft.

Even though condo insurance in Ontario isn’t mandatory, it’s essential for every condo owner in Markham. Think of it like an emergency fund. You hope you never need to use it, but if you do, you know you’ll have protection against damaged belongings or legal fees.

We’re going to break down your policy so you know how you’ll be protected:

This policy will reimburse you for belongings that are stolen, damaged, or lost. It applies to a wide range of items—clothes, furniture, appliances, musical instruments, and more.

How much personal property insurance do you need? The total value of your belongings might surprise you. It’s best to go room by room and add up the value of all your items. Based on that, you can choose a policy with adequate coverage.

Planning to install new countertops? Thinking of replacing the flooring? Ready to set up your new surround sound stereo system? Each of these improvements will increase the value of your condo. To ensure you have enough coverage, let your insurance provider know whenever you’re renovating the condo. Protect your investment by updating your policy limits when necessary.

Liability coverage is an essential part of your policy. It steps in if you’re found responsible for property damage or bodily injury within your condo. For example, if you have a water leak that damages nearby condos, you could be sued for damages. Personal liability insurance helps cover legal fees and medical costs.

You can always increase your personal liability limits; give us a call, and we’ll be happy to help you out.

After an insurance claim, you may need another place to stay while your condo is being repaired. Your condo insurance will help you pay for additional living expenses (such as meals and hotel costs) until you can return home.

As a condo owner, you’re responsible for the unit you own, but you also share ownership of the common areas. If a common area is damaged and the condo corporation can’t cover it, you may be required to pay part of the cost. Loss assessment insurance will help you cover these fees.

How Much Does Condo Insurance Cost?

If you’re shopping for condo insurance, naturally, one of your first questions will be: How much will it cost me? In Markham, condo insurance rates vary from building to building. Insurance companies will look at exposure to risk, claims data, and ratings in your area.

If you want an exact quote for Markham home insurance or condo insurance, reach out to us!

There are a few steps you can take to lower the cost of your insurance. Basically, any measure you take to reduce your risk exposure or likelihood of making a claim will lower your insurance rates. Take a look:

  • Mature Customer
  • Claims Free
  • Local or Monitored Alarm
  • Sprinkler
  • Water Leak Detection Device
  • Company Loyalty

What Factors Determine the Cost of Condo Insurance?

You know that insurance rates are different for everyone. A few factors that determine your insurance premiums include:

  • Location. Where do you live in Markham? Certain areas have higher rates of fire claims, vandalism, or flooding, which may affect your insurance.
  • Credit score. Having a good credit score can save you money on insurance. To get this discount, ask your insurance provider to do a soft-touch credit check.
  • Upgrades and improvements. If you’ve invested in renovating your condo, your insurance rates will go up to reflect its new value.
  • Property type. What type of condo do you own? Do you live in a building with dozens or hundreds of other condo owners? Or do you live in a detached unit? This will directly affect your rates.
  • Claims history. You’ll enjoy a discount if you’ve never filed a claim before.
  • Building construction. Your rates are partly determined by the quality of materials used to construct the building and your unit.

Optional Protection

Worried that standard insurance doesn’t offer enough coverage? No problem. You can add to your policy with the following options:

  • Service Line Coverage
  • Home System Protection/Home Equipment Breakdown
  • Condo Unit Owners Loss Assessment Coverage
  • Condo Unit Owners Improvement Coverage
  • Condo Deductible Assessment
  • Identity Theft
  • Home-Based Business
  • Watercraft
  • Overland Water
  • Sewer Backup

Why Choose Westland?

We’ve already listed a few ways you can save on your insurance. But one of the best ways to get a lower rate is to work with an insurance broker.

At Westland Insurance, our focus is on simplifying your insurance experience. We’re here to listen to your needs, help you understand your options, and guide you to the best insurance solution for your circumstances. Get the coverage you need at the right price.

We’ll find a policy that’s the best fit for your lifestyle, your risk exposure level, and your budget. From there, we’ll compare quotes from different insurance providers in Markham to get you the best rates.

Claims Example

You buy insurance, hoping you’ll never have to use it. But sometimes, accidents happen, and they may be through no fault of your own.

At Westland, water damage is one of the most common claims we see. In mere minutes, a water leak can cause thousands of dollars in property damage. Protect yourself from repair costs and liability expenses with condo insurance.

Get a Condo Insurance Quote With Westland Today!

Whether you need home insurance, renter’s insurance, or auto insurance, we’ve got your back. At Westland Insurance, we’re here to help you protect your property in Markham.

Get coverage for common perils like water damage, fires, theft, and more. To receive an insurance quote for your condo in Markham, contact us today!

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