Unfortunately, one of the top three insurers of condos in Alberta is no longer underwriting new policies. They're outta the game!
Click here for link
Since 2001 Insurance premiums have risen steadily to be one of the largest expenses on a Condo Corp's Income Statement. This isn't going to make things any better, and with premium increases of 25% - 30%, you can expect your condo fees to go up to compensate. Someone's got to pay, and it's not the insurers.
Oh and deductibles are going through the roof. $25,000 in some cases.
Lets not forget that excessive water claim history will also mean the possibility of you being denied coverage.
~CondoSensei
Click here for link
Since 2001 Insurance premiums have risen steadily to be one of the largest expenses on a Condo Corp's Income Statement. This isn't going to make things any better, and with premium increases of 25% - 30%, you can expect your condo fees to go up to compensate. Someone's got to pay, and it's not the insurers.
Oh and deductibles are going through the roof. $25,000 in some cases.
Lets not forget that excessive water claim history will also mean the possibility of you being denied coverage.
~CondoSensei