Over the past five decades, condos have boomed as a popular way to live in Quebec. Across the province, condominiums account for one out of every ten households. That number jumps to one out of five in Montreal. But many of these buildings are now decades old. They require massive upgrades to plumbing, roofing and weatherproofing as water damages continue to escalate.
Water damages now account for over 60% of all residential insurance claims. Water damages in condominiums are among the most expensive. A burst appliance hose, a bathroom sink overflow, a pinhole leak in a pipe – occurrences that are quickly handled in most homes – can go unnoticed in a condo building and cause many thousands of dollars in damages spread over multiple floors. According to the Insurance Bureau of Canada, water leaks are the number one cause of damage in condominiums.
In response, insurance companies are hiking condo insurance premiums and deductibles. In today’s market, condo syndicates may even have trouble finding insurance coverage if the building is 20 years old or more, or has a history of water damage claims.
Why is this a particular problem for condo boards in Quebec?
Since 2018, Quebec has adopted laws (Bills 141 and 16) and made changes to the Civil Code, providing stricter regulation of condominium insurance and maintenance. They call for greater responsibility for condo boards. A change to the Civil Code that went into effect in April 2021 clearly states: “The [condo] syndicate has an insurable interest in the whole immovable, including the private portions. It shall take out insurance against ordinary risks providing for a reasonable deductible and covering the whole of the immovable. […] The amount insured [by the condo syndicate] must cover the reconstruction of the immovable in accordance with the standards, usage and good practice applicable at that time.”
No wonder condo insurance premiums are skyrocketing. The new law also mandates inspections and appraisals of condo buildings every five years by the Quebec Order of Chartered Appraisers (L’Ordre des évaluateurs agréés du Québec).
How do Quebec condo boards respond to these challenges?
As a condo board member, you are currently faced with all these rising costs:
- new and recurring water damages
- maintenance and repairs
- government inspections
- labour and building materials to replace aging infrastructure
- insurance rates.
You must consider what is best for the building and the residents. Of course, you can update all of the plumbing throughout the building. But at what cost? Do you really want to have owner fees multiplied many times over during your tenure on the condo board? Better to do some of that work every year and spread the costs over a decade or so. But what do you do about water leaks and rising insurance premiums in the meantime?
GardaWorld has an affordable solution to stop water damages in Quebec condominiums
Headquartered in Montreal, GardaWorld is one of the largest privately owned security companies in the world. Condo boards that rely on us for security asked us how to protect their buildings against the compounding costs and risks of water leaks.
To combat this crisis, GardaWorld has partnered with NOWA to better control water leaks and reduce the risk of water damage claims for Quebec condominiums.
GardaWorld’s NOWA 360 is the answer to water leak detection and control in Quebec condos
GardaWorld is proud to recommend and represent the NOWA 360 line, a 100%-made-and-tested-in-Canada solution for water leak detection and control in condominiums.
NOWA 360 detects and stops water leaks in a matter of seconds.
- Small sensors are placed wherever there are potential risks of leaks.
- Each sensor can detect a spill as small as a glass of water.
- The sensor alerts the control panel which shuts off water entry and stops the leak instantly.
- The owner and security are notified, but the leak has already been stopped.
- The system notifies you when the battery is low. NOWA 360 lithium batteries have an unequalled 10-year lifespan.
Installing a NOWA system will help control the escalation of your deductible and help your condo building remain insured.
Protect your Quebec condo building and eliminate water damage with the NOWA 360 leak detection and instant water shut off features. You can even maintain control and oversight of an entire building through system connectivity and notifications.
For more information, contact us.