Quote:
Originally Posted by Ludepower
Every condo is getting hammered with insurance rates. Be more specific why you should stay away from this building.
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It doesn't take a genius to figure out why: one or two major claims, plus an extremely high appraised value. You can do the math.
Btw not every condo has been hammered. In our case, we actually saved $100k this year simply by shopping around to another broker.
In another case, I know of a strata who proactively invited the insurance company to see their condo condition and improvements in person, and therefore avoided an increase.
If your building is lucky enough to have avoided too many claims, and you have a Strata who takes the right steps, you can possibly avoid a big increase (no guarantees obviously).