Quote:
Originally Posted by Vancouverisfalling
100K Minimum Deductible. Do you understand the ramifications of this? I don't think you do. It means condo owners effectively don't have insurance.
For this same reason Strata Fees are going to rise much higher, not tomorrow, but over years. Not decades, years.
The higher insurance costs pale in comparison to the effects of the insane increase in deductible costs.
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Plenty of buildings have had 100k water damage deductibles already.
My previous building has a 50k deductible back in 2010.
It just means your homeowners insurance has to cover the obscene deductibles.
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