How can a strata committee ensure they are getting value for money from their strata insurance policy?

Feb 27, 2025 ... Every strata scheme must set a budget each year. This budget should include an estimate of expenses for the year ahead, to help you work out the levies that ... 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. Jun 12, 2023 ... Many strata insurance policies provide an optional section of cover called “Machinery Breakdown” or “Equipment Breakdown” to guard against monetary losses. Many customized plans can bridge coverage gaps and provide specific benefits to supplement other major medical or health insurance coverage. LEARN MORE ... We cover you for damages to the building, its contents, loss of rent and various owners' liabilities that you have. Jun 16, 2020 ... BC strata corporations have been facing substantial increases to their insurance rates and deductibles, with many seeing significant premium increases on ... Jan 23, 2025 ... There are many specific requirements for insurance in strata schemes but as a general rule all insurances are taken out by the body corporate. 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 ... 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 ... We offer insurance for all strata risks, including: Our product strives for market leadership through its innovative features, superior quality and pricing ...