Morris Real Estate Team


Throughout 2019 the Strata Insurance industry has advised Strata Corporations to expect both significant increases in insurance policy cost as well as significant increases in deductibles in case of a claim.  This is as a result of the capacity or dollar value insurance companies are prepared to insure in the strata market.  This decision is based on but not limited to claims history (frequency and costs), age of construction, and property location (earthquake and flooding). 

Strata corps can expect an increase of at least 40% or more as well as a significant increase in policy deductibles. 

Upon renewal, owners should ensure their personal or homeowner insurance policy is updated to protect themselves personally from instances where damage may occur to your home where the...

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