General information only — not legal, tax, financial, or real-estate advice. Verify with a licensed BC professional before acting.
Deductible coverage — sometimes called loss assessment coverage — is an optional coverage on an individual condominium (strata-lot) insurance policy that responds when the strata corporation's own deductible is charged back to the owner following a covered loss originating in the owner's strata lot. BC strata deductibles have risen materially since 2020 (some water-damage deductibles now exceed $100,000). Deductible coverage limits are set by the owner in their in-suite policy and should be discussed with a licensed BC insurance broker. The Strata Property Act, SBC 1998, c. 43 and its regulations set out how a strata corporation can recover deductibles from responsible strata-lot owners.
This varies with the strata's actual deductible. Consumers commonly obtain the strata's current Certificate of Insurance and set their coverage limit at or above the largest single deductible listed. Discuss appropriate limits with a licensed insurance broker.
When the loss originates from an owner's strata lot and the strata bylaws so provide (subject to Section 158 of the Strata Property Act). The strata corporation typically claims the deductible by adding it to the owner's account. Legal disputes are heard at the Civil Resolution Tribunal.
Verify the specific statutory language, thresholds, deadlines and current guidance directly with the governing authority: