Urban vs Suburban - 2 styles enter, one style leaves!

[rotten42]

Originally Posted by Fuzz

My insurance went up 15% this year, and I'm no where near a flood zone(SFH). Suburbia, yours may not have gone up because you haven't got a renewal yet. From what I understand, everyone is taking a hit from the floods. From what I heard(no official source, just what I heard)is if your renewal was after March-ish this year, that's when you get hit. Mine has doubled since 2006, so I don't think this is unique to condos.

I'm in Royal oak my insurance stayed the same after renewal.

[Full Mountain]

Originally Posted by Fuzz

My insurance went up 15% this year, and I'm no where near a flood zone(SFH). Suburbia, yours may not have gone up because you haven't got a renewal yet. From what I understand, everyone is taking a hit from the floods. From what I heard(no official source, just what I heard)is if your renewal was after March-ish this year, that's when you get hit. Mine has doubled since 2006, so I don't think this is unique to condos.

Mine is up 20% at my renewal this month, the policy was issued last July. I am no where near the floodplain (north of 16th) and have recently completed upgrades that should have decreased my premium (backflow preventor, new electrical, new plumbing).

[freeweed]

Originally Posted by geotag277

The numbers in the article, 25-30% price increases, are peanuts. Home owners have seen 200% increases in some insurance coverages since the flood, including water damage

Yup. First, condo insurance for unit owners has historically been dirt cheap. A 25-30% increase is peanuts. Oh no, another $50/year! Time to sell!

House insurance in Calgary has been steadily increasing every year - on average. A few years ago it was the massive hailstorms, which only really hit the NW but everyone's premiums got bumped. Right now it's the 2013 flooding (specifically sewer backup claims as most of the flooding itself never was covered by insurance). Calgary's weather claims have been off the charts for years and premiums are going up to compensate. If it hasn't happened to your house yet, it will. Trust me.

Increasing a deductible from 5k to 25k will only make people shop around for other insurance coverage.

Oh wait, we're not talking about unit owners. We're talking the commercial insurance on the condo building itself, held by the condo corp. Which is financed by dozens if not hundreds of residents.

Yawn. Non-story.

[freeweed]

Originally Posted by RWin

Sometimes insurance seems like nothing more than disaster financing. Pay and pay and pay until you need it. Then you pay even more after you make a claim (whether or not the actual risk has changed).

Errr... that's pretty much what insurance IS. Disaster financing. If more people understood this, we'd all be a lot less pissed off at insurance companies. Insurance is designed and best used when your house burns down. When a storm shreds your roof. When your basement is under water. When your car is mangled. You know, disasters. Things you couldn't possibly afford to fix out of pocket. Not "oh no, I got a scratch on my door in a parking lot! what do you mean $500 deductible you lying thieves!!!!!" or "omg, the kid drew on the carpet with his markers and now *I* have to pay to clean this??? asshole insurance companies!!".

And you don't usually "pay even more after you make a claim". The only thing that generally changes is you will lose your "claims free" discount - which makes sense, as you're no longer "claims free". If you don't like that, don't ask for the discount in the first place.

And yes, insurance is quite possibly the worst-explained and worst-marketed product in the history of mankind.

[RWin]

Originally Posted by freeweed

Errr... that's pretty much what insurance IS. Disaster financing.

I think risk management would be a better way to describe it. Except that it really does seem more like financing. Financing that won't pay out to most who pay in.

Originally Posted by freeweed

And yes, insurance is quite possibly the worst-explained and worst-marketed product in the history of mankind.

And thats what I hate most about it.

[suburbia]

Originally Posted by Fuzz

My insurance went up 15% this year, and I'm no where near a flood zone(SFH). Suburbia, yours may not have gone up because you haven't got a renewal yet. From what I understand, everyone is taking a hit from the floods. From what I heard(no official source, just what I heard)is if your renewal was after March-ish this year, that's when you get hit. Mine has doubled since 2006, so I don't think this is unique to condos.

It is unfortunate that the public at large has to subsidize the costs of those who choose to live in the flood plain. A commie reality if I ever saw one.

The condo situation, as articulated well in the article, is above and beyond the flood situation. It is actually completely logical that insurance risks in condos increase, as an issue in one unit can impact other units or the whole complex, because walls, ceilings, floors are shared. Consider fire situations.

Interesting how the deductibles for a more expensive insurance are going up hundreds of percentage points!

An interesting scenario:
http://www.castanet.net/news/Kris-In...ble-assessment

You arrive at your posh downtown condo one evening after work. As you make your way through the front entrance, you notice about three inches of water on the floor and a local restoration company dealing with the mess.

As you make your way to your unit, you notice that your front door is wide open and you are then informed that you cannot enter your unit because your washing machine hose burst and flooded your unit and three units below you. Meanwhile a flurry of activity is taking place; workers from the restoration company are doing their best to remediate the water damage using a variety of various vacuums, fans and other equipment.

“Good thing I have insurance!” you cheerfully remark. I will just pay my $500 deductible and all of this will be taken care of. However, several days later the strata corporation presents you with a $50,000 bill for the cost of the deductible for water damage to the strata building and your current insurance policy only has $10,000 coverage for your strata deductible assessment.

“Yikes, I didn’t see that coming.”

[geotag277]

Originally Posted by suburbia

The condo situation, as articulated well in the article, is above and beyond the flood situation. It is actually completely logical that insurance risks in condos increase, as an issue in one unit can impact other units or the whole complex, because walls, ceilings, floors are shared. Consider fire situations.

It seems you aren't even reading your own articles and injecting your own commentary. From the actual article you posted:

Damage from 2011 hail storm, 2012 windstorm and 2013 flood partly to blame

Prior to last year's floods, Coates says the majority of insurance claims from condo owners were from faulty dishwashers and overflowing bath tubs

The Co-operators — Alberta's third largest property insurer — is in the process of transitioning out of the commercial condo insurance business in most of the country.

The Co-operators will continue to insure individual condo units.

What's the difference between commercial condo insurance and residential condo insurance? That's right, overland flood insurance - the exact insurance that does not exist for owners of single family detached homes. Not to mention, the condo boards will simply move their insurance to another company offering it - home owners still have no options.

Insurance for home owners post flood went up more than the figures quoted in your own article.

There is simply no way to paint this as a knock against condo living.

An interesting scenario:
http://www.castanet.net/news/Kris-In...ble-assessment

Yes, very interesting theoretical scenario, also interesting how they didn't find a single example of that actually happening. Theoretically suburban home owners can be on the hook for millions of dollars of damage to city equipment, do I win now?

[suburbia]

Originally Posted by geotag277

It seems you aren't even reading your own articles and injecting your own commentary. From the actual article you posted:

Looks like you actually didn't read the article yourself. I even pulled the relavant parts out for you in my first post about it. I'll point it out once again. Try reading slower:

http://www.cbc.ca/news/canada/calgar...ting-1.2661374

Premiums for insurance have increased by 25 to 35 per cent and deductibles have also gone from $5,000 to $25,000
<>
"It's amazing how often I read in [board meeting minutes] about another irresponsible condo owner who hasn't bothered to check on their hoses or hasn't bothered to notice that they have left the bathtub running," she said.

Interesting point actually about deductibles having increased so drastically because of the increased liability associated with co-location. A 500% increase.

Yes, maybe 25 to 35% increases are bearable for a year or two, but get dinged on a $25,000 deductible when your leaky pipes damage the condos below you and the common areas, and you won't be feeling so smug.

I'm sure you'll continue your strawman and ignore the added liability of having a condo, but we can see through that.

[geotag277]

Originally Posted by suburbia

Looks like you actually didn't read the article yourself. I even pulled the relavant parts out for you in my first post about it. I'll point it out once again. Try reading slower:


Interesting point actually about deductibles having increased so drastically because of the increased liability associated with co-location. A 500% increase.

Yes, maybe 25 to 35% increases are bearable for a year or two, but get dinged on a $25,000 deductible when your leaky pipes damage the condos below you and the common areas, and you won't be feeling so smug.

I'm sure you'll continue your strawman and ignore the added liability of having a condo, but we can see through that.

Premiums have increased, less than houses after the flooding, so really this is a huge win for condo living. What is your point again?

The article even states that prior to the flood most claims were absent minded owners. That doesn't imply absent minded owners are the cause of the recent premium hikes, if anything, it is due to the flooding.

Finally deductibles increasing is a very vague statement - deductibles for what? Specifically Co-operators is exiting the commercial condo insurance business - again, that is different than the residential condo insurance business which they still operate in.

I'll again state, that one big difference between commercial condo insurance and residential condo insurance : commercial condo insurance has access to overland flood insurance - no single family home owner has the same access.

That is again a huge win for condo ownership.

Yes, maybe 25 to 35% increases are bearable for a year or two, but get dinged on a $25,000 deductible when your leaky pipes damage the condos below you and the common areas, and you won't be feeling so smug.

It's hard not to feel smug when one has access to overland flood insurance

I'm sure you'll continue your strawman and ignore the added liability of having a condo, but we can see through that.

As I've already explained, it isn't added liability. It is simply something to be aware of when you purchase a condo. It is one's best interest to ensure that the condo has a healthy reserve fund and a well managed condo board.

A condo with a well managed reserve fund has so many advantages to the "you're on your own" nature of house damage and insurance that it is you who is creating a strawman that we can all see through.

Enjoy your unsafe, crime infested, financially vulnerable lifestyle choice

[fusili]

Can we get back to the topic of the thread: Prostitute insurance for condos.

[suburbia]

Originally Posted by 5seconds

I'm sorry, are there not condos in the suburbs? What does this have to do with the topic at hand?

More importantly, what is the entire point of this thread at all? It looks like its sole function is to cause division amongst members of this forum.

Agreed.

Not sure why this thread was started.

[Ramsayfarian]

Originally Posted by 5seconds

I'm sorry, are there not condos in the suburbs? What does this have to do with the topic at hand?

More importantly, what is the entire point of this thread at all? It looks like its sole function is to cause division amongst members of this forum.

This thread was started to keep this crap out of the construction thread. It only causes division between the majority of this board and Suburbia. No harm, no foul.

[Ramsayfarian]

Originally Posted by fusili

Can we get back to the topic of the thread: Prostitute insurance for condos.

My friend wants to know if that would cover his watch and wallet that went missing last weekend?

[geotag277]

freeweed started the thread, he is responsible for all this.

[Ramsayfarian]

Originally Posted by 5seconds

That actually makes a lot of sense!

And it actually works to a certain degree.

I don't think Freeweed should be blamed. He should be thanked.

[suburbia]

How do people in the Beltline and Forest Lawn feel about the high density of prostitution in your respective areas? Does this type of thing impact decisions on where one stays? Perhaps impacts differently if a single, couple or family, or if one is a user of the services or not?

[geotag277]

Originally Posted by suburbia

How do people in the Beltline and Forest Lawn feel about the high density of prostitution in your respective areas? Does this type of thing impact decisions on where one stays? Perhaps impacts differently if a single, couple or family, or if one is a user of the services or not?

How do you feel about the high density of crime in your suburban area? Do you feel that sexual assaults, homicides, residential break ins, robberies, theft, theft from vehicles, and arson impact your decisions on where you stay?

http://crimemap.calgarypolice.ca/

[suburbia]

Originally Posted by geotag277

How do you feel about the high density of crime in your suburban area? Do you feel that sexual assaults, homicides, residential break ins, robberies, theft, theft from vehicles, and arson impact your decisions on where you stay?

http://crimemap.calgarypolice.ca/

What is the density of crime in my area?

[suburbia]

As geotag and others may not know what I'm talking about, I'll cross post here. Note that there is a colour coded map at the second link, as I know some people work better with pictures / colours.

---
Given the recent discussions regarding prostitution, along with the criminal activities such as human trafficking, (sexual) assault and organized crime, thought posting these articles about the alarming results of a new report on prostitution in Calgary would be appropriate.

http://globalnews.ca/news/1373243/ca...in-new-report/

A new report released this week suggests Calgary has as many as 3,000 prostitutes.
<>
It suggests 70 to 95 per cent of the city’s prostitution activity is indoors and is usually set up online.

The report also shows that outdoor prostitution tends to occur mostly in the Beltline and Forest Lawn.

http://www.cbc.ca/news/canada/calgar...lawn-1.2663713

[The Beltline and Forest Lawn] account for roughly 0.25% of the city's geographic area and account for approximately 75% of the city's public generated 1069 call volume.

There is an interesting map at the bottom of the second article. It graphically shows prostitution density across the city. The Beltline and Forest Lawn have the highest density by far.

[geotag277]

As suburbia and others may not know what I'm talking about, the Calgary crime map shows that 95% of crimes occur in the suburbs.

http://crimemap.calgarypolice.ca/

Surburban areas have the highest density by far of sexual assaults, homicides, residential break ins, robberies, theft, theft from vehicles, and arson.