How Skynest is Taking Control of Insurance Premium Renewals in the Condo Market

Are you familiar with recent news regarding the rise of condo insurance premiums in BC? Back in late 2019, insurance premiums for condominiums saw a major increase of 50% to 300%. Deductibles also increased from their standard $10,000 or $25,000 to $100,000 to $500,000, according to Tony Goiventu, Executive Director of the Condominium Home Owners Association.
With a variety of reasons for the recent increase including the potential for natural disasters like floods and earthquakes, not all buildings are created equal, despite often following the same building codes. Because of this, it’s imperative for potential homebuyers to really understand the process that all buildings go through during their annual renewal of insurance premiums.
When it comes to house hunting, especially at an older age, everyone wants to find a suitable space that keeps them safe. That’s where Skynest comes in. Skynest, Sardis BC’s newest luxury living condominium community, is built to the highest standards. By taking preventative measures during the construction phase, buyers are ensured that their homes will keep both them and their belongings safe. Going above and beyond when it comes to abiding by building codes, Skynest alleviates your insurance worries so you can live a happy and stress-free life.
For many insurance companies, the biggest risk when insuring condos is flooding. Skynest plans to take further precautions by integrating appropriate plumbing and draining systems in sinks, bathrooms and laundry rooms. In addition to flood prevention, Skynest will also be implementing fire protection measures that many insurance providers will find favourable when quoting insurance premiums. One of the main fire protection measures included is an automatic gas shut off for barbeques. During the construction process, Skynest will also add built in sensors for moisture and pressure in plumbing. Our developers are confident that by integrating these high-quality features and safety measures, potential buyers will find that Skynest’s condos will be Chilliwack’s most luxurious condo development both inside and out.
Skynest is a luxury adult living condo community in Sardis, BC. Built with the retiree lifestyle in mind, Skynest offers a contemporary design with open floor plans, high-end finishings and modern amenities for an upscale living experience. If you’re in the market for a condo, why would you buy anywhere else?
Skynest is currently offering a limited-time incentive. Save $25,000 and get a free second parking stall on select condos and no GST! Contact us today for more information.


