How can a strata committee manage the insurance risks associated with potential building defects?

With InsureBC's Strata Water Deductible Insurance, you can rest assured that you will be protected from the financial burden of high deductibles. 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 ... Mar 13, 2024 ... Sedgwick addresses the biggest concerns of the strata community by offering tailored insurance solutions, simplifying policy complexities, preventing ... Strata insurance in NSW is designed to protect the owners corporation of a strata title property. Strata building insurance covers common or shared property ... Strata insurance covers the common areas and shared facilities of your building, while building insurance covers the structure of the buildings and your ... Feb 7, 2024 ... As of this year, there are no major changes to SPA. It still tells us that comprehensive property insurance is mandatory for all strata properties except bare ... Strata insurance protects the building and common areas or facilities, with the premiums paid for by the owner's corporation. 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. Aug 22, 2022 ... Insurers cover the cost to repair water damage to insured property but generally exclude repair costs related to finding and fixing the leak, as ... Your strata insurance should cover shared property such as the building's exterior, shared facilities, car park and public liability for the property.