“A single water leak can mean a six-figure chargeback to your unit — and most buyers never see it coming.”
The Problem: A Decade of Rising Deductibles
Across Canada — in BC, Ontario, and Alberta — the cost of insuring condominium, strata, and co-operative properties has increased dramatically since the mid-2010s. Insurers have responded by raising both premiums and, critically, deductibles.
In 2015, a building-wide insurance deductible of $10,000–$25,000 was standard. Today, deductibles of $100,000–$250,000 are common in major Canadian cities.
Why This Affects You Directly
When an insured loss occurs in or originates from your unit, the corporation’s governing documents often authorize the board to charge back the deductible to the unit owner responsible.
What the Documents Should Tell You
- Current deductible amount — often stated in the insurance certificate or financial statements.
- Chargeback bylaw or rule — a bylaw provision authorizing the board to recover the deductible.
- Insurance renewal history — if premiums have increased sharply in recent years.
- Loss history — significant or repeat claims indicate structural or maintenance concerns.
The Pellucis Approach
Pellucis extracts and flags the current deductible amount, any chargeback bylaw language, and insurance-related risk flags directly in your Financial and Property dimension scores.