Quote:
Originally Posted by DownInFlames
Our condo board is budgeting for a 40% increase of our insurance premiums, and that's with no claims in the past five years. Some buildings with claims are seeing their rates rise as much as 100%.
If you own a building full of renters prepare to get nailed with huge insurance premiums.
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I just got a notice today from a borrower whose condo insurance premiums are going up by almost 200%. That's $130 a month on her condo fees.
And yesterday a friend got a notice about an emergency condo meeting to discuss insurance premiums. Sucks.