Do you have enough Strata Insurance?
Posted by Denise Brown on
Do you and your tenants have enough Strata Insurance?
The Strata Manager reminded all Owners to obtain their own insurance coverage for personal property contents as well as third party liability coverage.
Individual homeowner or Tenant insurance coverage is strongly recommended. Owners should also obtain additional coverage if they make any major improvements within their strata lots, such as upgrading of appliances, fixtures, floor coverings, hardwood floors, etc. (subject to approval as outlined in the Strata Corporation Bylaws).
Displacement coverage would also assist Owners or Tenants who would have to move out of their suites during a major loss, and loss of rental coverage is recommended for those individuals who rent out…
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