Condo Unit Owners
Unit owners are responsible for some risks not covered under the building's strata insurance. CapriCMW's unit owner's insurance policy protects you from these risks through various coverage options:
Property Loss Assessment
If there is loss in the building and the strata's insurance doesn't cover all costs, unit owners are responsible for the difference, and could even be held responsible to pay the deductible on the strata's policy. You could be required to pay thousands of dollars out of your own pocket in these circumstances. Loss assessment coverage is available to pay these expenses.
Excess Loss Assessment
Typically, condo insurance policies include some level of Loss Assessment coverage, but with today's rising Strata Corporation deductibles, condo owners are often looking to increase their limit. Learn more about Excess Loss Assessment coverage, and get a quote online.
Personal Property and Unit Owners Improvements and Betterments
Any losses you experience to the contents of your unit are not covered under the strata's insurance for the building. Our unit owner's policy provides coverage for your personal belongings within your unit as well as any enhancements you make, such as floor covering updates, new or additional built-in closets, cabinetry or counter tops.
This covers your unintentional personal actions anywhere in the world that lead to you being held liable for bodily injury or property damage.
Additional Living Expenses
In the event of a serious loss to your building, you may be required to temporarily move out of your unit during repairs. Your moving, storage, meals and lodging expenses would all be covered.
Meet the Strata Team
CapriCMW's specialized Strata Risk Advisors have decades of experience in the industry and are here to help you navigate the complex world of Strata and Real Estate Insurance and Risk Management.
Actual Cash Value or Replacement Cost: 9 Key Considerations
Insuring property on an actual cash value (ACV) basis could lead a manufacturing business to permanent close in the event of a large claim. This article will explore the challenges of insuring property on an ACV basis and why we recommend insuring on…
How Safe is Your Password?
Cybercrime is more rampant than ever before - attacks are growing in sophistication year by year with the potential impact on victims becoming more severe and widespread. It is predicted that the damage caused by global cybercrime will cost $10.5…
BC Government Introduces New Pay Transparency Legislation
If passed, the new legislation will require employers meeting a certain employee size threshold to disclose the mean and median pay for male and female employees.
Talk to an Advisor
Your CapriCMW Risk Advisor has highly specialized knowledge of your industry and is empowered to act quickly and independently to ensure direct, personal service.