Condo Insurance

• Condo insurance costs soared in parts of Canada in the past year. Here’s why

  Condo insurance premiums were up double-digits in some provinces compared with a year ago. But there are signs condo owners may finally see some reprieve.

  Money

  Jul 29, 2021
  
• B.C. insurers agree to end practice linked to rising condo insurance rates

  The practice of "best terms pricing" led to higher rates for as many as 94 per cent of strata properties, according to data collected by the B.C. Financial Services Authority.

  Dec 1, 2020
  
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• B.C. to end referral fees to help ease sky-high strata insurance costs

  The industry's regulator says B.C.’s condo owners have struggled under an average increase in insurance costs of around 40 per cent.

  Politics

  Jun 23, 2020
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• ‘Out of the blue’: Saskatchewan condo owners react to nationwide insurance surge

  In Saskatchewan, condo insurance has gone up anywhere between 15 and 200 per cent, according to a Regina insurance broker.

  Canada

  Jun 19, 2020
• Condo insurance crisis leads to online petition by New Westminster, B.C., woman

  The premium for the building where the woman lives with a muscle disorder climbed 300 per cent from $69,000 to $259,000 upon renewal this year.

  Feb 21, 2020
• BC. insurance brokers call for legislative reforms to tackle skyrocketing strata rates

  In a statement Friday, the IBABC proposes two reforms to the province's Strata Property Act, including a $50,000 cap on upper loss assessments.

  Feb 9, 2020
• Fort McMurray condo owners left in the lurch after insurance company drops building

  A condo complex in Fort McMurray has been left without building insurance after it was rejected by numerous companies due to previous claims.

  Economy

  Jan 15, 2020
• Langley condo owners reeling after strata insurance deductible jumps from $5K to $250K

  The strata's insurance premium also skyrocketed from $97,000 to $371,000.

  Jan 3, 2020
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• New rules mean Alberta condo owners could be on the hook for $50,000 in deductible costs

  New rules that came into effect at the beginning of the year mean Alberta condo owners could be on the hook for upwards of $50,000 if damage is caused within their unit.

  Canada

  Jan 3, 2020
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• B.C. condo owners brace for sticker shock as insurance rates surge by up to 300%

  "Anyone now purchasing into a condo and into any strata corporation in B.C., one of the documents you want to request is a copy of the insurance policy."

  Nov 30, 2019