Earthquake Deductible Assessment Coverage

For Condo Unit Owners in BC

Earthquake Deductible

Fast, Flexible, and Fully Covered

Earthquake Deductible Assessment Coverage

British Columbia is highly seismically active, putting major cities like Vancouver, Victoria, and Richmond at risk for earthquake damage. Insurers impose high earthquake deductibles on condo buildings (10% to 20% of insured value), leading to substantial out-of-pocket expenses for unit owners during severe damage.

SPG Canada Earthquake Deductible Assessment Coverage is designed to protect condo unit owners from these high assessments, ensuring financial security and helping them meet obligations without significant hardship.

Built for Brokers. Backed by Coverage That Goes Further.

Target Classes We Cover:
  • Condo Owners

  • Real Estate Investors

  • Property Managers & Condo Boards

Key Coverage Highlights:

  • Coverage for Earthquake Deductible Assessments: Reimburses the insured for their portion of the building’s earthquake deductible, up to the selected limit.

  • Flexible Coverage Limits: Tailored to match different condo unit values and exposure levels across BC, up to $250,000 in coverage.
  • Customizable Deductible Options: Policyholders can select from a range of deductible amounts to manage premium costs.
  • Standalone or Add-On Coverage: Available as a standalone policy or as an endorsement to a condo unit owner’s existing insurance policy.

Disclaimer: Please select coverage based on your client’s building’s total insured value, deductible percentage, and unit count. Larger buildings with more units generally require lower limits, whereas smaller or luxury buildings demand higher limits due to larger per-unit assessments.

Resources

Get a Quote!

Our Earthquake Deductible Assessment Coverage policy is available for purchase online through the SPGC Portal.

SPG Canada Portal Built for Brokers

With the SPGC Portal, brokers can:

  • Get real-time quotes instantly

  • Bind coverage online — no phone tag

  • Download policy documents on demand

Available 24/7. Because your clients don’t wait, and neither should you.