You can reduce the cost of your condo insurance without increasing your deductible. Minimizing the probability of accidents from occurring is a clever way to reduce the cost of insurance. For instance, installing a fire alarm system and security system ultimately reduces the chances of fire-related accidents and theft. Note: This has to be a centrally monitored alarm with a valid certificate to qualify for the discount in Ontario.
These questions may seem complicated especially for a first-time homebuyer. To ensure you get your condo insurance needs right, always work with a reputable insurance provider or agent.