Condo Water Damage: Who is responsible?


condo overflowing tub

How to Protect Yourself

As a condo owner, there are certain measures that can be taken to protect yourself prior to a water claim.

Review Your Strata Insurance 

In the event of a claim to common property, strata unit owners may be assessed a certain portion or even the full amount of the Strata Insurance deductible. These deductibles can exceed $10,000, so it’s wise to review your own condo insurance policy and see what coverages it provides in these instances.  Most policies include coverage up to a stated limit for assessed deductibles. Some insurance policies, such as SeaFirst Insurance’s Strata Guard, are designed for Residential, Commercial and mixed-use Strata Corporations across British Columbia. 

Review Your Strata Corporation’s Existing Insurance Coverage

Not all strata policies are created equally, but knowing what to look for is often complicated.  Fortunately, we’ve put together a free guide for council members to help simplify strata insurance.  Regardless of whether your strata corporation is professionally managed or self-managed, we recommend keeping this guide handy for easy reference.