Coverage and claims can be rather complicated if you own a strata unit. Can you find yourself liable for damage to neighbouring suites, or common areas? What does your insurance cover? None of us ever wants to make an insurance claim against our homeowner's policy, but sometimes it can't be helped.
An article in Vancouver's Real Estate Weekly does a good job explaining the ins and outs of strata homeowner's insurance. I first posted this link a year ago, but it’s just as relevant today. I also pass it on to my clients who’ve just bought condos. Forewarned is forearmed, as they say. Read the full article here.