UBC Condo Owners Liable for Strata Losses?

 

 

UBC Condo Strata

 

UBC condo owners could be liable to pay for their strata's water damage deductible, even if they're not responsible for damages.

 

For UBC condo owners, it is important to note that Strata corporation can legally sue an owner to recover the deductible if the owner is responsible for a loss or damage; even if it is beyond the unit owner's control!

 

For example, if a pipe burst from within the walls of your unit or a faulty washing machine connection causes a water leak, the owner could be held accountable. 

 

If an owner's condo insurance policy does not cover the required limit of coverage they may have to pay out of pocket, and strata building policy deductibles range from $2,500-$150,000.

 

Condominium insurance usually provides limited coverage for strata deductibles, but you can often increase coverage for a small additional premium.

 

If you have bought or are considering buying UBC Real Estate it is important to make sure you have enough coverage for your property.

 

Why not visit the friendly staffs at InsureBC to see if you have enough coverage? They are located at 3318 Wesbrook Mall. They can be reached at 604-558-2411

 

Do you have any further questions regarding this or any other inquiry regarding ownership and maintenance of UBC real estate? Feel free to contact the UBC Homes office anytime.


UBC 社区资讯
卑诗大学社区的共分为五区,每一区都有不同类型的楼盘供您选择,千万别错过这个在大学社区工作与生活的独特机会。

  1. Chancellor Place 区
  2. Hawthorn Place 区
  3. East Campus 区
  4. Hampton Place 区
  5. Wesbrook Village 区
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.