Tag Archives: Condo Insurance

Do you own a condo, duplex, townhouse, or other home within a strata subdivision? Then by now you know that your insurance rates are on the rise for 2020. Brokerages predict an average increase in insurance costs of approximately 25%, but at press there have been reports of some renewals increasing anywhere from 50% to […]

The City of Vancouver website warns residents that some of the world’s largest earthquakes have occurred, right here, in British Columbia.  Research also shows that we have a 1 in 4 chance of experiencing another major earthquake within the next 50 years.  As a result, many strata corporations prudently purchase earthquake insurance.  You have likely […]

Housing costs have made the prospect of owning a home less of a viable option for residents in Greater Vancouver. Many households are opting to rent. While tenancy comes without some of the headaches that owning a detached home or condo does, it does have its unique set of concerns. Insurance and liability are among […]

2020 Update: Strata insurance deductibles continue to see dramatic increases.  In a recent Times Colonist article, Tony Gioventu , executive director of the Condominium Home Owners Association, reports that deductibles have increased substantially, from a manageable $25,000 per claim to as much as $250,000 and $500,000. Since we first alerted condo owners to this issue many […]

Congratulations, you’ve just purchased your first investment property.  Or, maybe you’re a seasoned investor with a large portfolio of properties.  Or, maybe you don’t even think of yourself as a real estate investor – just someone who rents out the apartment you inherited from your uncle last year.  Regardless, you own valuable investment property which […]

Insuring a condominium unit is complicated by the fact that there are two parties involved: 1) you, the owner of the unit, and 2) the strata corporation.  Strata/Condo Master Insurance policies provide coverage for the building and its common areas such as hallways, elevators, swimming pools, and any associated out-buildings, however there are many assets […]