Compare and purchase the best
condo insurance rates
in New Brunswick.
Provides protection against a lawsuit resulting from damaged property or personal injuries.
Referring to 'special limits' on items like jewellery or art if the value is greater than the special limit you should list the item separately.
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New Brunswick condo insurance rates vs. other provinces
Province |
Average Rates |
---|---|
British Columbia |
$840 |
Ontario |
$534 |
Alberta |
$493 |
Manitoba |
$404 |
Saskatchewan |
$491 |
Nova Scotia |
$501 |
New Brunswick |
$405 |
Prince Edward Island |
$484 |
See how our customers save big on condo insurance
Customer |
City |
Type |
Average rate |
Lowest Rate |
Savings |
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Condo Insurance in New Brunswick - What You Need to Know
No, condo, home, or tenant insurance is not mandatory in Canada, although the condo association, or the owner of the condo, may require you to have to move in. You also need insurance to secure a mortgage to purchase a home or condo. So, even though it is not legally required to have, there are other outlets that may require the homeowner to purchase it.
If you own a condo or rent a house or apartment, some landlords may require tenants to have tenant insurance before moving in and condo corporations and lenders may require condo unit owners to show proof of insurance before moving in as well.
On average, condo owners can expect to pay between $30 to $50 per month – or $400 to $600 per year – for a condo insurance policy. But remember, the rate you'll be paying depends on many factors such as location, property type, and building construction (to name a few). To get an accurate quote, go online for a free quote today!
Condo building insurance is different. This is purchased by the condo corporation to cover damage to the building and the common areas and liability on the property. This is usually included in the monthly condo maintenance fees.
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