What about your Condo insurance?

60 DAY CHALLENGE 

DAY 4~ TIP OF THE DAY - 

YOUR CONDO INSURANCE!

Feb 4 - 2013

What about Condo insurance! Did you know that you should always ask for a recent copy of the Strata's insurance renewals? Why do you care?

The Strata has their own insurance as well as their own deductible amount. Which in most cases is $25,000 as an example. But, if you had a claim against another property or the strata's property you would owe the difference of your deductible amount and the Strata's deductible. In alot of cases your deductible might be $2,500. So, why is it important? We need to know to make the decision when we are renewing our own coverage whether we take the risk or whether we can decrease the risk.

Let's Expect the Unexpected and get prepared with YOUR BACKUP PLAN!