Strata water damage deductibles across British Columbia have been steadily rising. In some cases, they now exceed $250,000. When a water loss originates from a unit, that unit owner may be assessed for the strata’s deductible.

Many condo policies do not automatically adjust to reflect these higher amounts. That could create a costly coverage gap.

Strata Water Deductible Buy-Back (WDBB)

WDBB is now available to help protect against excess strata water deductible assessments. It is designed to respond after your condo policy’s deductible assessment limit has been fully used.

How It Responds

WDBB is excess insurance:

• Condo policy pays first
• Deductible assessment limit must be exhausted
• Any added water coverage must respond
• WDBB covers eligible remaining amounts

No separate deductible applies under WDBB.

Key Details

Limits: $25,000–$500,000
Eligibility: BC only, 3-year loss history required
Minimum Underlying: $25,000 water deductible assessment coverage

This coverage does not apply to earthquake, flood, rental income, ALE, or fire unless specifically endorsed.

Why Review Your Coverage?

As deductibles rise, so should protection. Condo owners who haven’t reviewed their deductible assessment limits recently may want to do so.

Our team at Saxbee Insurance is available to help review your policy and discuss whether WDBB makes sense.