How can a strata committee ensure they understand their insurance policy?

What does strata insurance cover? · building fixtures such as pipes, hot-water systems, intercoms and air-conditioners · common property including gardens, ... Your strata insurance coverage includes legal liability protection for the Owners Corporation. While this doesn't cover individual unit owner liability, it does ... Insurance for residential strata buildings and common areas and contents from theft, storm, water damage and fire as well as legal liability. What is Strata Insurance? · Strata Insurance covers the owner's corporation for loss of or damage to buildings, contents of common areas, Public Liability and ... Strata insurance is a type of insurance that covers common property, common areas, and shared assets in a strata-titled property. Strata insurance policies are ... Dec 6, 2022 ... Under strata or body corporate management legislation in those States, an owners' corporation is excluded from the operation of the Corporations ... Strata insurance can cover the building and all common or shared property, and contents which belong to the owners' corporation. The type of cover and its cost ... May 5, 2021 ... Minimum insurance. Insurance is important to protect your owners corporation (formerly body corporate) and the personal assets of all lot owners ... 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 ... Dec 16, 2024 ... This guide outlines essential changes in how SCA members disclose strata insurance practices. At Vantage Strata, we're proud to follow this guide.