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Victoria's housing market, home prices and values


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#4021 Matt R.

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Posted 20 January 2022 - 12:48 PM

Up up and away! Rebuild costs are through the roof and the insurer is passing these on to the consumer. I’m sure flood and heat dome are joining in on the party, too.

#4022 Nparker

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Posted 20 January 2022 - 01:08 PM

Insurance is such a rip-off.



#4023 Barrrister

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Posted 20 January 2022 - 01:13 PM

I have not bothered having insurance for a few years now.  But my peoperty is actually worth more without the house on it. 



#4024 Nparker

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Posted 20 January 2022 - 01:14 PM

I don't really have a choice regarding insurance as part of a strata corporation.



#4025 sebberry

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Posted 20 January 2022 - 01:39 PM

With no changes to my condo policy (claims, coverage etc.) my premium is going up 45% this year. I will be speaking to my insurance provider about this.

 

In the recent minutes, my strata communicated the insurance increase as being the result of the 'building being worth more now' rather than the rebuild costs are through the roof.  Just a little subtle wordsmithing to try to make themselves look good...


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#4026 Barrrister

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Posted 20 January 2022 - 03:10 PM

Dont worry about the insurance costs since inflation is low according to the Ottawa.



 



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