Condo Owners in Squamish: Are You Protected Against Rising Strata Water Deductibles?

Across BC, strata corporations are significantly increasing water damage deductibles. Many buildings now carry deductibles of $100,000 or more. If a water loss originates from your unit, you may be responsible for that deductible amount.

Unfortunately, many condo policies still carry lower deductible assessment limits. That difference can leave a serious financial gap.

Now Available: Strata Water Deductible Buy-Back (WDBB)

WDBB is a specialized excess policy designed to respond when your strata water deductible exceeds your condo policy’s limit. Quotes are quick and straightforward.

How Coverage Applies

• Your condo policy responds first
• Your deductible assessment limit must be fully exhausted
• Any additional purchased water coverage responds
• WDBB applies to remaining eligible amounts

There is no additional deductible under WDBB.

Coverage Overview

Limits: $25,000–$500,000
Minimum Requirement: $25,000 water deductible assessment coverage on your condo policy

Not Covered:
Earthquake, flood, fire (unless approved), rental income, and ALE.

Why This Matters in Squamish

Strata deductibles continue to increase faster than many condo policies are updated. That could mean a significant unexpected assessment.

If you own a condo in Squamish, it’s worth reviewing your current limits. Our team is happy to help you determine whether WDBB is a smart addition to your coverage.