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Home COFSAB Forum Finances 2022 – 2023 Insurance Quotes Reply To: 2022 – 2023 Insurance Quotes

  • Michelle J Lucente

    Member
    December 20, 2022 at 11:02 am

    Hi all

    Agree that condominiums should be getting appraisals at least every second year to ensure they are insured properly.

    Insurance is about risk and condominiums are deemed high risk, as traditionally we haven’t managed the buildings & equipment, finances, or community well. The Insurance Bureau of Canada recommends working with a Risk Manager.

    http://www.ibc.ca/ab/insurance-101/condo-action-plan

    The condo I live in went from ~30K$/year for insurance to ~215K$ for insurance over 6 years, so yes costs are skyrocketing.

    Michelle

    Please spread the word!

    Reply To: 2022 – 2023 Insurance Quotes

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