Condo Insurance in Toronto
Condo Insurance
Protecting High-Rise Living
Condos are the future of standard homeownership, thanks to convenient locations, building amenities, and compact living spaces in bustling districts. Enjoy everything you love about condo living with insurance that protects your place up in a high-rise.
Condo Home Insurance by Marathon
Guaranteed Property and Lifestyle Protection
The number one mistake condo owners make is not securing their condo unit. Many owners think that their building’s master insurance policy covers everything — including their unit’s interiors and contents. But that’s exactly where the building coverage ends.
At Marathon Insurance, we’ve made it our mission to educate and protect condo unit owners. Our insurance brokers are here to correct common misconceptions about condo insurance, and tell you why you need your own comprehensive policy. Like any other homeowner, you need the right insurance to protect your living space and belongings from common hazards.
Your Marathon broker can help you build a condo insurance policy that covers your property, and fits your lifestyle and budget. Our brokers work with major insurance providers to tailor condo coverage options that protect everything you value about condo living — comfort, convenience, and a compact living space.
How It Works
Get Your Personalized Condominium Insurance
- Get a quote: Tell us about condo, lifestyle, and budget. Your dedicated Marathon broker will obtain quotes from major insurance providers, and provide you the most competitive rates.
- Tailor your coverage: Your Marathon insurance broker will provide you with essential coverage, and complete your policy with recommended add-ons for comprehensive protection.
- Manage your policy: Review your policy, update your coverage, and file a claim with dedicated support through the Marathon app.
Why You Need Condo Insurance
A Step Up From Your Building’s Master Plan
Condo insurance is an investment in your home and happiness. The condo corporation’s master insurance policy only covers the building and shared areas, including the elevators, lobby, parking garage, and recreational facilities.
Your condo insurance policy covers the portion of the building that’s yours — the inside of your unit and personal property, and liability issues that may arise. Having your own condo insurance policy protects you from hazards like fire and theft and the financial losses they cause:
- Personal belongings
- Property damage to interiors
- Upgrades and renovations you installed in your unit
- Damage that originates in your unit and extends to other units and common areas
- Liability claims filed a person injured on your property
- Changes to your condo association’s master policy that causes gaps in your own coverage.
What Does My Condo Insurance Cover?
Condo Insurance Coverage
What does a condo insurance policy cover? How much insurance coverage do I need? As a condo owner, you need to know where — and how — to get started on protecting your home and everything that matters most to you. Your Marathon insurance broker tailors a custom condo insurance policy for comprehensive property and lifestyle protection.
The Basics of Condo Insurance
Personal Property Protection
Condo insurance covers the contents of your home against insured losses due to theft or property damage. Since everything inside your unit is yours to protect, a comprehensive personal property coverage helps you repair or replace furniture, electronics, appliances, and personal effects.
- How much personal property coverage do I need?
Every homeowner is unique — your occupation, lifestyle, and budget all factor into the coverage limit that best suits your needs. Your Marathon broker can help you conduct a home inventory and assess their value to match these with available limits from insurance providers. Having the right amount of insurance helps you get back to normal in the event of a devastating loss.
Liability Coverage
As a homeowner, you are responsible for everything that happens in your home. This includes accidents and damages suffered by a guest, repair technician, or other third party while inside your condo unit. If you are found at fault, your liability coverage can cover legal and medical expenses.
Temporary Living Expenses
Your condo won’t be livable while undergoing major repairs after a fire or other disaster. It costs a lot to stay someplace else, whether it’s a hotel room or a short-term rental. Condo home insurance covers temporary living expenses in case of an insured loss.
Loss Assessment Coverage
In some cases, your condo association may charge you for major property and liability losses arising from common condo elements. The association may levy a special assessment against you and other unit owners. Insurance can protect you against these losses.
Additional Coverage for High-Rise Living
Flood and Water Damage
Protect your condo unit and property from extensive water and structural damage caused by burst pipes, leaks, sewer backup, and freshwater flooding.
High-Value Property
Extend your coverage to cover the full value of jewelry, art collection, sports equipment, and other valuables exceeding specified policy limits.
Additions and Alterations
Get enhanced protection for upgrades to the standard counters, cabinetry, and features of the standard build.
Unit Contingent Coverage
Your condo’s master policy typically covers damage to the structure that affects your unit. This coverage may not be enough to completely restore your living space. Unit Contingent Coverage helps cover additional losses.
Natural Disasters
Get enhanced protection against hazards like fire, smoke, lightning, wind and hailstorms, and falling objects.
Enhanced Crime
Protect your condo unit from worse property crimes, including riots, explosions, and other malicious acts.
Marathon Protection
Insure Your Condo Unit Today
Marathon Insurance is here to help every homeowner. We know everything you value about condo living, and we’re here to help you protect it. Trust our team of dedicated insurance brokers to equip you with the condo insurance coverage you need. From tailoring your coverage to every claim, we’re here to secure your high-rise home.
Your Marathon Insurance broker is committed to working with the best providers to obtain the most competitive quotes, and tailor a condo insurance policy to your exact needs. Enjoy generous savings and peace of mind with 24/7 customer support, and complete protection for your condo lifestyle.
