Does strata insurance cover damage to individual lots caused by common property issues?

Jun 25, 2021 ... Public liability insurance is mandatory for all strata property whether commercial, residential, or mixed-use strata property. Public liability ... Jul 10, 2023 ... The strata insurance market continues to harden with insurance premiums subject to sustained increases. Even where there has been no claims ... With insurance rates for condos and townhouses climbing 50 to 300 percent – and in one case nearly 800 percent – condo and townhouse owners in BC are worried. Jul 30, 2021 ... The issue that we're all facing is the high deductibles for sewer/flood under the entire building's insurance that strata buys every year. Who should consider it? Strata insurance is a compulsory in every state - so if you're part of an owners' corporation in a townhouse, unit, flat, apartment or ... Basically, under GIO Strata Insurance, there are things that are considered your building* (like verandas), and common contents (such as shared laundry ... Sep 23, 2024 ... on average, strata Insurance policies are currently experiencing premium increases of 10-20% or more for properties with no outstanding claims ... Effective Nov. 1, 2020, amendments will require insurers or insurance agents to provide 30-day advanced notice directly to strata corporations of their ... Feb 18, 2024 ... Strata will have a building insurance policy which will cover things like damage to the structural building, common property areas etc. You ... cleaning. • insurance. • gardening. • small maintenance jobs. • building insurance. • utility bills for common property. • administrative costs. • strata ...