What are some common mistakes to avoid when arranging strata insurance?

We offer a comprehensive policy that will satisfy the requirements of the Strata Act and ensure the building is properly covered in the event of a loss. Find out what insurance a body corporate must take out if it is registered under a building format plan. Effective Nov. 1, 2020, amendments will require insurers or insurance agents to provide 30-day advanced notice directly to strata corporations of their ... The strata insurance policy provides property coverage for Common Property, including any buildings shown on the strata plan, the common assets and any ... Mar 22, 2020 ... Strata insurance provides cover for the property & responsibilities of the owners corporation. Typically, strata insurance will not provide cover. Nov 21, 2023 ... – Unless bylaws amended, strata corporation is not responsible to insure for buildings on bare land strata lot that are not shown on the strata ... We offer insurance for all strata risks, including: Our product strives for market leadership through its innovative features, superior quality and pricing ... Sep 23, 2024 ... on average, strata Insurance policies are currently experiencing premium increases of 10-20% or more for properties with no outstanding claims ... Avoid churn-and-burn relationships as they erode trust, decrease long-term value, and damage your reputation. Instead, focus on building trusted partnerships ... Your strata insurance coverage includes legal liability protection for the Owners Corporation. While this doesn't cover individual unit owner liability, it does ...