This week our What’s Happening Wednesday is featuring insurance related to strata. To our knowledge, we have yet to have issues in Campbell River. However, Vancouver is having some disruptions. Insurance rates in Vancouver have gone through the roof due to deferred maintenance and an increase in repairs. Due to this, insurance companies have sky rocketed rates on buildings or refused rates all together. What does this mean for you? If your building loses insurance, you cannot sell. The government is being asked to step in and help the situation. Just keep in mind, when you buy into a strata make sure to check the policies for insurance. This should not be seen as a deferent, however, be aware when buying into a strata to check the policies. If you have any questions, please don’t hesitate to call as we take extra training to handle strata properties.
On a side note, we love referrals! If you are a small business, we would like to hear from you. We prefer to refer people we know in the community such as plumbers, electricians, hairdressers, nail techs and so on. So, let us connect and create working relationships in our community! If you would like to refer the Marin Marketing Team, visit https://shannonmarin.com/recommend-the-marin-marketing-team/
If you have any questions about Vancouver Island or real estate, do give us a call at 250-914-1122.