Excess Loss Program · Online Quote & Bind
Strata insurers have pushed water damage and sewer-backup deductibles into the hundreds of thousands. This program gives condo unit owners excess coverage on top of their existing strata deductible assessment — closing the gap to the strata corporation’s deductible, with limits up to $750,000.
The Problem
Insurers have substantially increased water damage and sewer-backup deductibles on the building policies arranged for residential strata corporations. When a loss traces back to a unit, the owner can be assessed the strata’s full deductible — far beyond what their condo policy’s deductible assessment coverage will pay.
Common strata water damage deductibles — often well beyond a unit owner’s assessment coverage.
Total deductible coverage available to a unit owner through this program.
Self-quote and bind through the dedicated broker portal — residential and commercial strata.
How it works
The policy supplements the unit owner’s coverage for water damage or sewer backup (and fire, if added) when their primary condo policy doesn’t fully cover the strata corporation’s deductible.
The unit owner’s condo policy already includes some strata deductible assessment coverage — a minimum of $25,000 is required to qualify.
This program layers excess coverage on top, sized to the gap between the primary and the strata corporation’s actual deductible.
If a covered water loss is assessed to the unit, the primary and excess together respond up to the strata’s deductible.
Figures are illustrative only. The portal auto-calculates the available excess from the primary limit — see the self-quote & bind limits below. Actual coverage, limits, eligibility, and pricing are subject to underwriting and the terms of the issued policy.
Eligibility
Residential and commercial strata unit owners across five provinces. Claims must be reported immediately, and any prior water loss within five years goes to underwriting review.
Self-quote & bind limits
The portal auto-calculates the excess available from the primary limit — don’t enter the excess manually. Maximum excess is $650,000 residential / $200,000 commercial.
Covered perils
How to apply
Good to know
Program facts
Broker commission.
Minimum retained premium.
Policy fee (non-refundable).
Renewals: automated notices are sent 45, 14, and 7 days before expiry. Renewed policies receive new policy numbers — update your client files accordingly. Mid-term limit changes require a replacement policy and underwriting review.
Self-quote and bind through the dedicated portal, or reach our buydown desk with a question.