Comprehensive Strata Coverage at Competitive Premiums
Habitat Insurance’s apartment and strata building insurance program offers comprehensive coverage at very competitive premiums.
Our insurance brokers assist strata/building owners and property managers get the most for their insurance dollar as well, as providing professional advice at the time of quoting and throughout the policy period.
We also ensure that all of our clients receive prompt and dependable assistance in the event of a claim.
Key features offered as standard in our strata insurance/apartment building program:
- 125% Margin clause on building coverage (for example, total loss limit for a $10,000,000 building is $12,500,000) – blanket bylaws coverage included
- $2,500 Water damage and sewer back up deductible
- $10,000,000 Commercial General liability coverage
- $2,000,000 Directors & Officers liability coverage ($5,000,000 limit available); property manager can be added as additional insured
- $100,000 Land & Water Clean Up liability coverage
- $25,000 Crime coverage (higher limits available)
- Boiler & Machinery / Equipment breakdown coverage
- Optional Legal Expense coverage offered
- Plus many other policy coverage extensions
- Policies are 100% underwritten by a well-established Canadian insurance carrier
- Prompt and reliable claims service
Ideal properties for our strata insurance program:
- Up to $10,000,000 building replacement cost (higher limits can be considered)
- Less than 20% rental units
- Good claims histories
- Built after 1960
- Mix of commercial/residential units is acceptable
- Properties located in British Columbia