Deductibles On The Corporation’s Insurance – A Primer

The blog provides an overview of deductibles on a corporation's insurance policy for condominiums. It explains that deductibles are the amount that the corporation is responsible for paying in the event of a claim, and this amount can be substantial. The blog discusses how deductibles are allocated among unit owners, and the importance of understanding how the corporation's by-laws address this issue. The blog also highlights the potential impact of deductibles on condo fees and emphasizes the need for unit owners to maintain their own insurance policies to protect themselves from potential liability.