Published July 21, 2023. This article reflects the rules and conditions at the time of writing and may not be current — always confirm against the latest provincial legislation.
These days it seems like the cost of everything is increasing drastically — from gas to groceries. One area where this is especially true is condo insurance. In Alberta and British Columbia, prices inflated as much as 22% quarter over quarter over a three-year stretch, and although the rate of increase came down from its mid-2021 peak, premiums remained at record highs. Some point to increased claims from severe weather, others to building-material price increases. Whatever the reason, it is increasingly clear that condo boards need a solid financial plan to avoid costly special assessments or loans.
That's where we come in. As a reserve fund company dedicated to helping you avoid these outcomes, we are determined to give you the best advice possible to ensure financial stability. Beyond the peace of mind that comes with a good reserve fund study, it also flags the components nearing the end of their lives. With that knowledge, boards can replace items with confidence — knowing it's the best use of their money — and may even reduce insurance costs over the long run, since newer materials are more durable and fire-resistant. You'll also find that in a time of belt-tightening, Reserve Plus is a great choice thanks to our competitive rates.
No matter the reason, you cannot go wrong choosing Reserve Plus as your next reserve fund study writer.