The strata corporation’s policy does not replace a unit-owner policy. A buyer should compare the strata coverage and deductibles with personal liability, contents, improvements, additional living expense, and available deductible or loss-assessment coverage.
Decision points
- 01
Obtain the current strata insurance summary and deductibles.
- 02
Disclose occupancy, rentals, renovations, and claims accurately.
- 03
Get written confirmation from a licensed insurance representative.
Align the two policies
Ask which property the strata policy defines as standard, the major deductibles, recent claims, and any exclusions or conditions. Then ask the unit insurer how the proposed personal policy responds to those exact features.
Do not infer coverage
Coverage depends on policy wording, limits, exclusions, loss facts, and applicable law. Parcel & Key can organize questions and cost inputs but cannot determine whether a future claim will be covered.
Use the building documents in the quote
Provide the current Form B insurance attachment, strata policy summary, deductible schedule, bylaws, occupancy or rental use, improvements, claims history requested by the insurer, and any lender requirements. Compare the proposed unit policy against the actual building record rather than a generic condo profile.
Common questions, answered directly
Does strata insurance cover my condo unit in BC?
The strata corporation's policy and a unit-owner policy protect different interests. Review the current strata summary, deductibles, standard-unit definition, and your own proposed limits and exclusions with a licensed insurance representative.
What condo insurance should a BC buyer compare?
Compare contents, personal liability, improvements, additional living expense, loss assessment, deductible coverage, water and earthquake terms, exclusions, and the actual strata deductibles.
Can a strata deductible be charged to one owner?
Responsibility and insurance response depend on the loss facts, bylaws, legislation, case law, and policy wording. The published deductible alone cannot answer that question.
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