As a strata council member, you know that the strata corporation is often required to find a new strata insurance package from insurance brokers. We are one of them but what we offer is special. Strata insurance is complicated as ever as more different claims have arisen in recent years. Also BC strata property act has been updated in 2021 to mitigate premium increase from the strata corporations.
Residential and Commercial Strata
It is too much work to shop strata insurance every 3 years at least.
- Strata means from a duplex building to a large building with hundreds of units.
- Strata council must comply with BC Strata Property Act.
- Cost, coverage and services should be considered.
- Strata insurance package may consist of: Replacement cost of the building, Mechanical breakdown, Commercial general liability, Directors and officers’ liability, Errors and omissions liability, Legal expense, Pollution liability, Earthquake deductible coverage.
- There are always exclusions and limitations of coverage, even with all risk insurance. The insurance does not cover everything.
- Deductible for Earthquake coverage is high, but we can offer Earthquake deductible buy-back coverage for the building.
- Quote required? You may need to answer many questions for a quote. We send you a Strata Insurance /Apartment Building Insurance Questionnaire.
We work hard with strata council members, duplex owners and unit owners. As an insurance broker, we are side of our clients not insurance companies. We do our best for your strata. Please include us in your insurance tender process. In case you require Chinese (Mandarin) speaking assistance, we can help.