Legal Basement Suite & Main Floor Suite

[Cory S.]

I’m having an issue getting my 2 units insured. Is this classified as commercial? Multi family? What’s a reasonable rate for insurance? The insurance brokers that I have talked to sound confused and don’t know how to insure this. I have either been quoted $500/month or straight up refused. Any insurer recommendations for this (Edmonton, AB, Canada)? Any tips or info to better educate me? This is my first suite and I legalized it to get proper insurance coverage, now I feel hooped! Thanks!!

[Thomas S.]

Go on to the Canadian real estate site REIN, It is primarily western Canadian investors, they will have all the answers you need.