Is my condo insurance decent or am I missing something?

[grey1962]

My condo insurance is about to renew soon. I noticed that there's a about 20% increase to just over $400 total for this year. I have a 2-bed unit in a 45yr old high-rise.

I just ran a aggregated search online and the cheapest (square one) is still more expensive at $466 (including water dmg. same 1k duct. but only 1mil liability). As I barely deal with insurance, can I please get some feedback on my current one (Aviva) - is it a decent rate, or am I missing some coverage? TIA!

Insurance Coverage By Location

LOCATION 1

Deductible $1,000

LOCATION

Deductible Coverage Premium Coverage Premium

Section I – Property Coverages Coverage C - Personal Property (Replacement Cost Basis) $55,100 $336

Coverage D - Additional Living Expenses $27,550 INCL

Additional Protection

Improvement And Betterments (Additional Amounts) $55,100 INCL

Unit Additional Protection $137,750 INCL

Property Loss Assessment $137,750 INCL

Section II – Liability Coverages Coverage E - Legal Liability $2,000,000 INCL

Coverage F - Voluntary Medical Payments $5,000 INCL

Coverage G - Voluntary Payments For Damage To Property $1,000 INCL

Loss Assessment Coverage $2,000,000 INCL

Endorsements Sewer Backup Endorsement Policy Limit $15

Overland Water - Deductible $1,000 $25

Condominium Single Limit Of Insurance INCL

TOTAL $376

 

[seekthyfirst]

@grey1962 Consider talking to an independent agent, who can sell you a policy that’s not available through direct online channels. My condo insurance was going up each year by quite a bit with no claims or changes to coverage, I switched to using an agent a couple of years ago and the premiums dropped by 25% and haven’t gone up through two annual renewals.

 

[resjudicata]

@grey1962 Seems reasonable. All home insurance premiums (including condo insurance) has increased significantly across the board from all providers, no real avoiding it.

 

[ktj]

@grey1962 I do lots of quotes, this looks like average annual pricing

 

[grey1962]

Thank you to everyone for your feedbacks!