If you need condo insurance in Canada, you have lots of different options to choose from. But which should you go with? Sonnet condo insurance promises low rates with an easy online experience. It covers most of the major expenses – like personal liability, personal belongings, and unit improvements – but may not have everything you’re looking for. On top of that, it also offers some optional coverage and several different ways to save money on your premiums.
Let’s go over everything Sonnet condo insurance can get for you – and how it compares to other Canadian condo insurance providers.
Sonnet condo insurance features
Here’s an overview of what you can get with Sonnet condo insurance.
Why You Want It
Get coverage whether you live in or rent the condo out + Instant quotes.
Special Features
- Coverage is the same whether you live there or rent it out
- High customer satisfaction ratings
- 1 year of free Telus 24/7 virtual health care
Eligibility
- Canadian citizen
- Age of majority
Provinces
ALL
Features
Personal Liability Coverage
Personal Belongings Coverage
Unit Improvements Coverage
Additional Living Expenses Coverage
Loss Assessment Coverage
Common Area Damage
Sewer Backup
Overland Water
Identity Theft
Earthquake Coverage
Student Property Coverage
Full Hail Coverage
Accidental Property Damage
Water Protection
Home-sharing Coverage
Home-based Business Coverage
* Please note that the quote here (as well as the ones in the table below) were given to a specific situation and meant for illustrative purposes only. The rates your property would get are likely different.
Sonnet condo insurance product rating: 5.0 stars
Sonnet condo insurance offers a fairly comprehensive package, hitting most of the basics you expect to see. You also get a selection of optional coverages that are nice to have, plus the ability to save money through bundling and being claim-free. Sonnet is also an online-only insurance company, meaning buying insurance is easy and premiums should be cheaper.
The downsides are that Sonnet Insurance isn’t the most comprehensive coverage you can get, plus being entirely online means they can sometimes be hard to deal with if you have any issues with their service.
Rating methodology
In order to determine our star rating, we separate a product into its most important features, as seen in the table above. We then rate each feature as compared to similar products, and average out each score to get a rating out of 5.
Sonnet condo insurance did well in having 4 out of 6 major features, plus a handful of optional coverage as well. It lost some ground in not having all the major coverages and not having the cheapest insurance quote.
Learn more about our rating methodology.
The pros of Sonnet condo insurance
Here’s what there is to like about Sonnet condo insurance.
Pros
Most of the major coverages are included
Some of the most important things condo insurance covers are your belongings, personal liability, extra living expenses, common area, loss assessment, and extra living expenses. Basic Sonnet condo insurance includes 4 of these coverages, which is good for peace of mind.
Ability to add extra coverage as needed
If you’re looking for some extra coverage, you can choose to add them to your policy easily while customizing your policy. These options include sewer backup, flooding, full hail, and earthquakes.
Easy and cheap online insurance
As an online insurance company, Sonnet cuts costs and passes the savings on to their customers through cheaper premiums. They also make buying insurance an easy process that can be done completely from the comfort of your home.
Several ways to get cheaper premiums
If you haven’t made a claim in the last 5 years, are insuring more than one property, or create a bundle with your car insurance, you can get even cheaper premiums with Sonnet through various discounts.
The cons of Sonnet condo insurance
And here are some downsides to Sonnet condo insurance.
Cons
Online-only insurance company
Doing everything online is convenient, but when disaster strikes, sometimes it’s best to have someone you can talk to face-to-face.
History of increasing premiums
If you check out their Insureye page for Sonnet home insurance, you’ll see several customers claiming that Sonnet significantly increased their premiums after the first year. This is something you definitely need to keep an eye on, as it could easily apply to condo insurance as well.
Not the cheapest or most comprehensive
Out of the 4 condo insurance options we looked at, Sonnet didn’t give us the most comprehensive option – and it also wasn’t the cheapest of the bunch. Overall, Sonnet was a good average option, nothing more.
Sonnet condo insurance alternatives
Here’s how Sonnet condo insurance compares to 3 other Canadian insurance companies.
 |  |  |  | |
|---|---|---|---|---|
| Account | Sonnet Condo Insurance | TD Condo Insurance | Co-Operators Condo Insurance | Aviva Condo Insurance |
| Genius Rating | ||||
| Why You Want It | Get coverage whether you live in or rent the condo out + Instant quotes. | Purchase online for up to 10% off + Personalized coverage advice. | Get unique coverage for condominium owners + Special insurance add-ons. | Customize coverage for your condo + Save when you combine policies. |
| Personal Liability Coverage | | | | |
| Personal Belongings Coverage | | | | |
| Unit Improvements Coverage | | | | |
| Additional Living Expenses Coverage | | | | |
| Loss Assessment Coverage | | | | |
Show More | ||||
| Get a quote See more Sonnet products Compare | Learn More See more TD products Compare | Learn More See more Co-operators products Compare | Learn More See more Aviva products Compare |
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FAQ
Do I need condo insurance?
If you have a mortgage on your condo, your lender may require insurance coverage as part of their terms. But even if they don’t, it’s still a good idea to get some coverage for such a huge investment. Click here to see what Sonnet insurance has to offer.
What does Sonnet condo insurance cover?
Some of the basic coverages Sonnet offers is personal liability, personal belongings, extra expenses, identity theft, and condo improvements. You can also opt in to additional coverage from things like flooding, earthquakes, and sewage backup. Click here to read more about Sonnet condo insurance.
How is Sonnet insurance so cheap?
Sonnet cuts a lot of their costs by being an online-only insurance company. They then pass those savings onto their customers in the form of cheaper premiums. Check out how Sonnet condo insurance compares to 3 other insurance companies right here.
Can I get Sonnet condo insurance in my province?
Sonnet condo insurance is offered to Canadians living in British Columbia, Alberta, Ontario, Quebec, New Brunswick, Nova Scotia, and Prince Edward Island. Click here to see everything they offer.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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