PeterM1
Active Member
"so I assume that means the Insurance Deductible by law did pass."
That's a shame. Great for the condo corp, crappy for the residents.
I think it was a lose , lose situation for the condo owner residents . If it wouldn't have passed then the buildings insurance would cost more and the extra cost would be passed on through higher maintenance fees . Now that it passed ,if everyone has to contact their insurance broker, then their insurance rates will probably rise to cover this extra liability. Either way it was stacked in favour of the condo corp no matter what the outcome would have been.