Page 6 - November Market Update
P. 6
PROTECT YOURSELF:
STRATA WATER
DEDUCTIBLE
...а если это все таки quires that any AGM Notice in-
случилось - вы знаете кто cludes a copy of the strata corpora-
и сколько платит - ВЫ tion's insurance policy summary.
платите или страта ? This summary page will include
a notation on what the building’s
Вам необходимо убедиться в current water deductible amount
том, что вы знаете что именно is. Depending on any resultant wa-
покрывается вашей личной ter damage claims filed in the past increasing cost and frequency of
страховкой (home owner insur- policy year and the extent of dam- resultant water damage claims. For
ance policy water deductible) и age, this deductible amount can example, if the building is dam-
что она дополняет страховку increase to a staggering amount aged due to a water leak, the strata
ВСЕГО здания страты и если from the previous year. corporation would generally file a
это не так, то срочно выяснить water damage claim with its own
все детали со своим агентом и It is not uncommon for strata's insurance company.
today to have a deductible in the Section 158 of the Strata Prop-
The BC Strata Property Act re- $50,000 to erty Act states that the insurance
$100,000 deductible in respect of a claim is
range from a common expense, but the strata
the days of corporation may sue an owner in
when they order to recover the deductible
were $5,000 portion of an insurance claim if the
to $25,000. owner is responsible for the loss or
Why Is This
Important To You As
A Strata Owner?
Deductible damage that gave rise to the claim.
assessment Two landmark BC court decisions
coverage is in 2007 determined that the strata
an addition- corporation need not prove negli-
al coverage gence in order to determine own-
that has ers' responsibility. A strata corpo-
become ration may sue a strata lot owner
increasingly to recover the insurance deductible
important in even though the owner was not
light of the negligent ...
6
