Municipal Affairs and Housing Minister Selina Robinson takes questions in the B.C. legislature, Feb. 20, 2020 (Hansard TV)

B.C. homeowners plead for action on condo insurance crisis

Strata property fees growing bigger than mortgage payments

B.C.’s housing minister says the province is doing its best to deal with an international problem, as she continues to be peppered with horror stories of huge increases in condominium insurance.

Opposition MLAs are highlighting the crisis of some strata property owners, facing double or triple rate increases, huge jumps in deductible amounts and in some cases refusal to insure at all. Municipal Affairs and Housing Minister Selina Robinson says a bill before the B.C. legislature tightens rules for depreciation reports and allows the use of reserve funds to pay skyrocketing insurance costs.

The impact of construction and maintenance issues on strata insurance was highlighted in a report June 16 by the newly established B.C. Financial Services Authority. But examples from B.C. tell a different story, of new buildings with no water or other damage claim history facing huge increases.

Langley MLA Mary Polak said she can identify “row upon row of brand-new townhomes” that are facing huge increases. “This isn’t about depreciation reports,” Polak told the legislature July 7. “It’s not about maintenance.”

One of those is the Prestwick townhouse complex in Langley, where the strata president was informed three days before the insurance came due that the premium was rising from $88,000 to $250,000. The complex is two years old and has no insurance claims, the president told the Langley Advance Times.

Robinson said the problem arose last fall and the government is moving as quickly as possible. But the COVID-19 pandemic has added enormous costs to the provincial budget, leaving few options to provide the immediate relief that opposition MLAs are calling for.

RELATED: B.C. changing rules as strata insurance costs rise

RELATED: Insurance shock for Langley townhouse owners

RELATED: Insurance up 40% province-wide, water claims cited

Surrey-Cloverdale MLA Marvin Hunt described a constituent named Diana, faced with a 280 per cent jump in premiums that forced the strata to dip into their capital reserve funds to pay for it.

“But that’s not any kind of a solution,” Hunt said. “As Diana says, ‘we can’t do that every year. We’ll run out of our funds’.”

Abbotsford West MLA Mike de Jong said there are thousands of property owners across the province who face the same situation, with monthly strata fees growing larger than mortgage payments. Using capital reserves to cover insurance depletes the savings accumulated to keep up with necessary maintenance like replacing roofs, de Jong said.


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

BC legislature

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Golfers and firefighters repair Langley Hospice roof after raccoon visit

Township fire crew’s charitable arm is hosting an inaugural golf tournament on Aug. 24

Langley East candidates seeking Liberal nomination emerge on social media

Including Langley Township Councillor Margaret Kunst and telecom professional Miranda Wemyss

‘Help council decide’ interim use for Alder Inn site after demolition: Township

The building in downtown Aldergrove was decided to be demolished at a July 13 meeting

LETTER: Langley hospice construction announcement lacks reference to MAiD

An important subject related to hospice care was apparently not addressed in recent coverage

LETTER: Langley woman says virus precautions pale compared to past sacrifices

Senior notes that people today shouldn’t dismiss experts’ instructions to prevent coronavirus spread

‘Don’t kill my mom’: Ryan Reynolds calls on young British Columbians to be COVID-smart

‘Deadpool’ celebrity responds to premier’s call for social influence support

Captain Horvat’s OT marker lifts Canucks to 4-3 win over Blues

Vancouver takes 2-0 lead in best-of-7 NHL playoff series with St. Louis

PHOTOS/VIDEO: Wings and Wheels set for weekend lift-off in Abbotsford

Fundraiser to raise money for Crystal Gala Foundation and the fight against breast cancer

Undercover video shows alleged animal abuse at Fraser Valley egg farm

One employee wearing logo of Chilliwack chicken-catching company already facing abuse charges

Widow of slain Red Deer doctor thanks community for support ahead of vigil

Fellow doctors, members of the public will gather for a physically-distanced vigil in central Alberta

Protesters showcase massive old yellow cedar as Port Renfrew area forest blockade continues

9.5-foot-wide yellow cedar measured by Ancient Forest Alliance campaigners in Fairy Creek watershed

Taking dog feces and a jackhammer to neighbourhood dispute costs B.C. man $16,000

‘Pellegrin’s actions were motivated by malice …a vindictive, pointless, dangerous and unlawful act’

Racist stickers at Keremeos pub leaves group uneasy and angry

The ‘OK’ hand gesture is a known hate-symbol

Most Read