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.

Personal Liability

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. 

Kevin Casey
Gordon Li
Roz Phipps
Grant Pritchard
Danielle Russell

Resources

Employee Benefits / employment law, employee benefts, pay transparency, pay equity
New Pay Disclosure Requirements Now in Effect for BC Employers

As of November 1, 2023, employers are required to include wage or salary ranges in job postings open to BC residents.

Nov 16th, 2023 | By: CapriCMW
Personal Insurance / Small Business
Insurance Implications of a Side Hustle

As inflation and interest rates remain at the highest levels seen in decades, many Canadians have been exploring different options  to for supplementing their income. If you are planning to begin taking on freelance or part-time work alongside your…

Oct 12th, 2023 | By: CapriCMW
Business Insurance / Named Insured
Explaining the 'Named Insured' in Your Business Insurance

Policy wordings for business insurance can be highly complex and the technical and legal language can be overwhelming to interpret. However, there is one term in particular - the named insured - that is extremely important for you to understand as a…

Sep 19th, 2023 | By: CapriCMW

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.

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