A credit check is optional, but it can help you score the lowest rate on your condo insurance. Insurers may use credit checks to help set rates, and a good credit score can dramatically lower the price of your plan. In fact, you'll likely only find the cheapest condo insurance rates if you get a credit check. And, thankfully, at LowestRates.ca, we only do one credit check per application, so your credit score will remain intact anyway. Condo owners who shop around on their own for an insurance plan will usually have to submit to multiple credit checks, which can harm their credit.