Condo insurance costs soared in parts of Canada in the past year. Here’s why

Prices for condo insurance — or strata insurance, as it’s known in B.C. — recorded double-digit increases in B.C. and Alberta and a nine per cent jump in Ontario in the first three months of 2021 compared with the same period in 2020, according to data published by financial products comparisons site LowestRates.ca.

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