How does a lot owner's home insurance interact with strata insurance?

Strata insurance covers the building, including internal structural elements of units, but the contents are an individual responsibility. 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 ... 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 ... For over a decade, FS Insurance Brokers has provided ongoing support to FirstService Residential Strata councils, residents, and managers in British Columbia. The privacy and security policies of external websites will differ from those of Strata Credit Union. Federally Insured by NCUA External Website. Equal Housing ... May 5, 2021 ... Minimum insurance. Insurance is important to protect your owners corporation (formerly body corporate) and the personal assets of all lot owners ... 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 ... In this article, we will explore the coverage provided by flood insurance policies, debunk misconceptions about flood cover, and provide insights into ... Basically, under GIO Strata Insurance, there are things that are considered your building* (like verandas), and common contents (such as shared laundry ... Avoid churn-and-burn relationships as they erode trust, decrease long-term value, and damage your reputation. Instead, focus on building trusted partnerships ...