Allstate Insurance Company of Canada has just released some interesting research results from their most recent Allstate Canada Condo Poll alongside the launch of their GTA Condo Hero Contest.
The Allstate release states, “many condo owners aren’t asking the right questions about their insurance liability when purchasing their condo”, putting them at serious financial risk. In fact, the research found that, “61 per cent of Canadian condo owners don’t know or incorrectly assume their building’s insurance will cover damage to another unit from water or fire that originated in their unit.”
Now, financial risk is one thing that we all ought to possibly stay away from! While being informed, as mentioned in this article, is important, you should also improve your financial solidity to gain the needed protection against possible financial risks in your life! If you are eager, find out the perfect ways for your financial solidity!
Allstate Canada’s research, conducted by Abacus Data, also revealed the following troubling statistics about what condo buyers forgot to ask about when purchasing their condo:
- 66% of condo owners didn’t ask the condominium corporation if they had recently increased their requirement for what should be covered by a condo owner’s personal insurance.
- 68% of condo owners didn’t ask whether the condo corporation had ever raised the deductible on their insurance.
- 78% of condo owners didn’t ask if the cost of the condo corporation’s insurance premiums had ever gone down.
Responding to the lack of information surrounding what questions should be asked when buying a condo, Allstate Canada has pulled together some helpful tips for purchasing condo insurance at http://bit.ly/122sJWN. You can also find out more information about this poll, including additional findings, at the Allstate Canada Newsroom.
Allstate Canada knows that insurance isn’t the only thing that helps keep condo residents safe and sound. There are amazing condo staff members who have gone above and beyond by providing condo residents a place to turn to get help when they need it, emergency or not. To give thanks to these incredible condo staff members Allstate Canada is launching the GTA Condo Hero Contest to recognize the role a condo concierge, caretaker, security guard or property manager plays in giving condo owners a helping hand in times of trouble.
To nominate a Condo Hero, residents of the Greater Toronto Area should visit www.allstate.ca/CondoHero between August 12 and September 27 to explain why their condo concierge, caretaker, property manager or security guard deserves to be named the Condo Hero. The winning nominator and Condo Hero will each win $2,500 and have a chance to tell their story.
About Allstate Insurance Company of Canada
Allstate Insurance Company of Canada is one of the country’s leading producers and distributors of home and auto insurance products, serving Canadians since 1953. The company strives to keep its customers in “Good Hands®” as well as its employees, and has recently been listed on the Best Employers in Canada, Best Employers in the GTA, and Best Employers in Quebec lists. Allstate Canada is committed to making a positive difference in the communities in which it operates and has partnered with organizations such as Mothers Against Drunk Driving (MADD Canada), United Way and Junior Achievement. To learn more about Allstate Canada, visit www.allstate.ca. To find out more about condo insurance and to get a quick and free online quote, visit www.allstate.ca.
About the Allstate Canada Condo Poll
Allstate commissioned Abacus Data (www.abacusdata.ca) to conduct an online survey of 518 condo owners and buyers. Using industry best practices, a random sample of panelists was invited to participate in the survey from an online panel of over 300,000 Canadians. The total sample was weighted by age, gender and region to be proportionately representative of the Canadian population of condo owners and buyers. Responses were collected between May 21 – 25, 2013.
Since the online survey was not conducted using what is considered a random probability-based sample, a margin of error cannot be calculated or reported. The Marketing Research and Intelligence Association prohibits statements about margins of sampling error or population estimates with regard to most online panels. However, the margin of error for a random probability-based sample of 518 respondents would be +/- 4.3%, 19 times out of 20.