How can the strata committee ensure these assets are adequately insured?

150 (1) The strata corporation must obtain and maintain liability insurance to insure the strata corporation against liability for property damage and bodily ... Dec 13, 2022 ... A general guide to help explain how the responsibility for repairs may be governed in cases where the strata corporation's insurance policy is not triggered. Insurance for residential strata buildings and common areas and contents from theft, storm, water damage and fire as well as legal liability. 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. What does strata insurance cover? · building fixtures such as pipes, hot-water systems, intercoms and air-conditioners · common property including gardens, ... Strata Insurance Group LLC. Get a quote. Auto, Home, Renters, Condo, Boat or Watercraft, Motorcycle, RV, Umbrella, Landlord Protection. i The growing construction costs have led to an increase in the insured values of B.C. strata buildings (i.e., the replacement and repair costs that insurers ... Strata Insurance is general insurance that covers common property under the management of a strata title or body corporate entity. The premiums for Strata ... 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 ... NRMA's Residential Strata Insurance offers cover for both the strata titled building and common areas, such as gardens, balconies and pools, against loss or ...