February 2020

Understanding Increasing Strata Insurance Rates and Deductibles

Posted on Feb 26, 2020

Strata owners in BC are facing insurance rate increases of between 50 and 300 percent this year, according to the Condominium Home Owners Association of BC.

Deductibles to cover claims are also rising. In some cases, we’ve heard of deductibles increasing as much as $500,000.

Remember that insurance doesn’t cover claims under the deductible amount. So...

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