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Condominium Insurance: Does Your Condo Look Good to Insurers?
Author:
Tricia Baratta
Publication date:
March 30, 2022
Article Summary:
The condo insurance market in Canada is facing challenges with rising premiums and deductibles. To be a better risk to insurers, condos can start the renewal process early, improve loss ratios by avoiding small claims, consider higher deductibles, update standard unit by-laws, get updated appraisals, conduct regular inspections, implement a claims procedure, document unit updates, and work with a trusted broker for support. Taking proactive measures may help control insurance costs and coverage.
Keywords:
Condo insurance, premiums, deductibles, renewal process, loss ratio, higher deductibles, standard unit by-law, insurance appraisal, regular inspections, claims procedure, unit updates, trusted broker, proactive measures.
Source Citation:
Tricia Baratta
Condominium Insurance: Does Your Condo Look Good to Insurers?
March 30, 2022
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