insurebcsquamish

Condo Owners in Squamish: Are You Protected Against Rising Strata Water Deductibles?

Admin Team

28 Feb 2026 — 1 min read

Across BC, strata corporations are significantly increasing water damage deductibles. Many buildings now carry deductibles of $100,000 or more. If a water loss originates from your unit, you may be responsible for that deductible amount.

Unfortunately, many condo policies still carry lower deductible assessment limits. That difference can leave a serious financial gap.

Now Available: Strata Water Deductible Buy-Back (WDBB)

WDBB is a specialized excess policy designed to respond when your strata water deductible exceeds your condo policy’s limit. Quotes are quick and straightforward.

How Coverage Applies

Your condo policy responds first
Your deductible assessment limit must be fully exhausted
Any additional purchased water coverage responds
WDBB applies to remaining eligible amounts

There is no additional deductible under WDBB.

Coverage Overview

Limits: $25,000–$500,000
Minimum Requirement: $25,000 water deductible assessment coverage on your condo policy

Not Covered:
Earthquake, flood, fire (unless approved), rental income, and ALE.

Why This Matters in Squamish

Strata deductibles continue to increase faster than many condo policies are updated. That could mean a significant unexpected assessment.

If you own a condo in Squamish, it’s worth reviewing your current limits. Our team is happy to help you determine whether WDBB is a smart addition to your coverage.

Water Deductibles Are Increasing — Is Your Condo Policy Prepared?

Strata water damage deductibles across British Columbia have been steadily rising. In some cases, they now exceed $250,000. When a water loss originates from a unit, that unit owner may be assessed for the strata’s deductible. Many condo policies do not automatically adjust to reflect these higher amounts.

Strata Water Deductibles Are Climbing — Is Your Condo Coverage Keeping Up?

Across British Columbia — including here in Victoria — strata corporations are increasing their water damage deductibles. In many buildings, deductibles now sit at $100,000, $250,000, or even higher. If a water loss originates from your condo unit, you could be assessed for the strata’s full deductible amount. The

Strata Water Deductibles in BC Are Rising — Are You Covered?

Across British Columbia, strata corporations continue increasing their water damage deductibles. It’s not uncommon to see deductibles of $100,000 to $500,000. If a water loss originates from your unit, you may be assessed for the strata’s deductible. Many condo insurance policies were not built with today’

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