Insurance

Headlines from the high cost of strata insurance

Posted on Feb 24, 2020 in Insurance

There has been a lot in the news about staggering insurance premiums for condo owners, and it’s not too much of a stretch to say this could have an impact on the real estate market.
Last week, the BCREA made news by explaining how it is taking steps to help potential buyers be prepared for everything concerning c...

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Condo insurance: ‘sleeper cost’ for new owners to investigate

Posted on Jan 30, 2020 in Insurance

You may have seen on the news this month that some condo owners have been hit with enormous increases for insurance.
The one that caught everybody’s attention was a high rise in Abbotsford, where owners were stunned by a 780 per cent increase, from $66,000 in 2019 to $588,000 this year.
For them, it’s a shocking hit to the budget. For baby boomers th...

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