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Insurance Policy

A contract whereby the Insurer, in return for consideration known as a premium, agrees to indemnify the Insured against specified damage, loss or liability arising from the occurrence of specified risks or to compensate the insured upon the occurrence. 


Premiums

We have studied the operating budgets of a few hundred buildings and here is a summary of the current annual insurance costs relative to the “total” annual operating budget (ie., the operating budget including the reserve contribution)

  • High Rise insurance        25%
  •          Low Rise insurance         23%
  •          Townhouse insurance   29%


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