Hold on to your shorts if you have a condo. This has been several years in the making, it all started in the spring of 2014 really. After insurance companies got financially kicked in the balls with the 2013 floods the writing was on the wall. At the time Cooperators was the largest underwriter of condo corporation policies and they exited the market entirely in 2014 which left a pretty big vacuum. Over the next couple of years more & more insurance companies refused to write multi-family residential realestate due to poor results so you get what we have today, only a handful of players left and they can charge whatever the fuck they want. I'm dealing with one right now where the condo board's policy went from $87K for 2019 to $311K for 2020 and the deductibles (which matters to the individual unit owners) have increased as much as 500%. No...those aren't typos. I think this client lives in a larger complex but still, if there's 200 units that all works out to about an extra $100 a month. I don't write condo board policies but I sure wish I would have gotten into that side of things years ago!
"Masked Bandit is a gateway drug for frugal spending." - Unknown303