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BC Strata Insurance Crisis Solution? 2020/2021 Update


It looks like there is finally some hope on the horizon in the world of British Columbia home insurance for strata properties and strata corporations.

The BC NDP Government is putting an end to a practice called "Best Terms Pricing" and ending this model for strata corporation insurance should save most stratas upwards of 25% on their over all policy.

This video highlights an article published by the Vancouver Sun and the original article can be seen in the link below.
https://vancouversun.com/news/local-news/b-c-strata-insurers-to-end-best-terms-pricing-scheme-by-jan-1?utm_source=Sailthru&utm_medium=email&utm_campaign=Vancouver%20Sun%20Headline%20Sun%20-%20Weekdays%202020-12-01&utm_term=VS_HeadlineNews

If you are interested in some more background information about the troubles plaguing BC Strata Insurance and increased costs to owners, go back and watch our video from earlier this year link here: https://youtu.be/uYFGYL1-RBo

It is said that the average strata insurance policy in BC increased by 40% in 2020. Please let us know in the comments on YouTube if your strata's insurance increased and by how much.