How can a strata committee ensure they have adequate insurance?

Apr 22, 2024 ... A strata owner may be required to pay the strata corporation's insurance deductible. This could be a significant expense as deductibles of ... We are going to chat about the insurance that this entity must carry, what's inside this policy, and how it directly affects unit owners. Sep 3, 2024 ... The guidance helps Subscribers interpret how these principles apply to the provision of strata insurance products as well as clarifying ... 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 ... Your strata insurance should cover shared property such as the building's exterior, shared facilities, car park and public liability for the property. Aug 17, 2022 ... The owners corporation of each property is obligated to take out strata insurance to cover the building, common area contents, and additional legal 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 ... Welcome to Strata Insurance. Badly managed Insurance processes cause anxiety and stress for you, your Owners Corporation Management colleagues. Strata insurance covers the common areas and shared facilities of your building, while building insurance covers the structure of the buildings and your ... Strata insurance typically covers common area contents, the building and shared property in the event of loss or damage. Generally, events like theft of common ...