One knock-off effect of rising condo deductibles (Canada)

/ Owner - February 17, 2021

A large increase in deductibles on condo corporations’ insurance is starting to put pressure on individual condo owners’ premiums, a new report from LowestRates.ca shows.  “When a deductible goes up – say from $20,000 a year to $100,000, or $200,000 – and there is a claim, the condo building or strata typically does not have enough collected from the residents’ [condo fees] to cover that deductible,” Justin Thouin, co-founder and CEO of LowestRates.ca, explained in an interview.     Read the article…………………………………….

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