Having Landlords Insurance is a material term of your Property Management contract with VADA Property Management/Advent Real Estate Services Ltd.
If you already have an Insurance policy, please keep an eye on the expiration date and be sure to renew your policy every year.
With the cost of Insurance on the rise, it is very important you talk to your Insurance provider to make sure you have sufficient coverage.
We also advise our Clients to have Insurance coverage for:
- Betterments
- Loss of rental income
- Deductibles ( full amount )
Regarding Deductibles:
If your Strata Corporation’s Insurance deductible is $25,000 your policy should cover the full amount as the deductible is the responsibility of the Suite Owner where the loss originated.
Some Strata deductibles are as high as $500,000.
If you have questions about your coverage please contact your Insurance provider today.
If you need to purchase Landlords Insurance, or to shop around for pricing, contact the companies below