Over the past year, strata premiums and deductibles have increased considerably in British Columbia, in some cases up to 400 per cent. The building's strata council might be under-funding their contingency fund, doing minimal maintenance or delaying their depreciation report in order to "save money." Ultimately, it should save her money by reducing the cost of her strata insurance and helping her avoid costly special assessments. On The Coast 8:02 Mark Ting on Strata Insurance Vancouver real estate market remains hot. Here to discuss some changes to the way strata insurance is calculated -- as well as a discussion on strata fees -- is Mark Ting, our guide to personal finance and a partner with Foundation Wealth.

Source: CBC News February 14, 2021 18:00 UTC