What are the insurance considerations for major renovations or capital works projects on common property?

Strata Insurance Final Report. Read BCFSA's report into B.C.'s unhealthy strata insurance market. · Consumer Alerts. Alerts are published by the BC Financial ... Apr 22, 2024 ... A strata owner may be required to pay the strata corporation's insurance deductible. This could be a significant expense as deductibles of ... With insurance rates for condos and townhouses climbing 50 to 300 percent – and in one case nearly 800 percent – condo and townhouse owners in BC are worried. Strata insurance protects the building and common areas or facilities, with the premiums paid for by the owner's corporation. Jul 30, 2021 ... The issue that we're all facing is the high deductibles for sewer/flood under the entire building's insurance that strata buys every year. What does strata insurance cover? · building fixtures such as pipes, hot-water systems, intercoms and air-conditioners · common property including gardens, ... Your strata insurance coverage includes legal liability protection for the Owners Corporation. While this doesn't cover individual unit owner liability, it does ... Aug 21, 2023 ... Transaction to create leading corporate risk and strata insurance offering in Australia and New Zealand. Sydney, 21 August, 2023 – Marsh, ... Strata Insurance policies cover material damage as a result of an insured peril to structural fixtures including fixed plant, machinery and underground services ... The strata corporation must have public liability insurance for an amount specified in the regulations, currently at least $10 million [s 31, reg 14]. Fidelity ...