How does construction insurance interact with the existing strata insurance policy?

Strata insurance usually includes cover for common areas such as gardens, lifts, walls, windows, pools, ceiling, floors and some liability cover for injury to ... May 23, 2024 ... Strata insurance is designed to protect you and your property as a lot owner. It provides general insurance cover for common property under the ... Strata insurance covers the building, including internal structural elements of units, but the contents are an individual responsibility. 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 ... Feb 27, 2025 ... Every strata scheme must set a budget each year. This budget should include an estimate of expenses for the year ahead, to help you work out the levies that ... Avoid churn-and-burn relationships as they erode trust, decrease long-term value, and damage your reputation. Instead, focus on building trusted partnerships ... Jul 10, 2023 ... The strata insurance market continues to harden with insurance premiums subject to sustained increases. Even where there has been no claims ... Jul 4, 2023 ... Strata insurance is structured to protect common contents and property under a strata title or body corporate entity. The higher deductibles will affect you in two ways: 1. Your strata will no longer be able to make claims that would have been covered under your previous ... Strata insurance is generally intended to cover common property, and limited common property (the structure).