What are the implications of lot owners not understanding the strata insurance coverage?

May 13, 2024 ... In this article, let's meet the 18 insurance underwriters strata citizens players will come across. We are going to chat about the insurance that this entity must carry, what's inside this policy, and how it directly affects unit owners. Effective Nov. 1, 2020, amendments will require insurers or insurance agents to provide 30-day advanced notice directly to strata corporations of their ... About us. Strata Insurance Group is an Independent Insurance Agency representing dozens of insurance carriers. Through these channels we can confidently satisfy ... Chubb Strata Insurance Product Disclosure Statement (PDS) and Policy Wording, Australia. Published. 02/2024. ©2024 Chubb Insurance Australia Limited. Chubb ... Nov 28, 2024 ... Recommendations in the policy paper look at ways insurance affordability can be addressed and owners' corporations can be supported to deliver ... The strata insurance policy provides property coverage for Common Property, including any buildings shown on the strata plan, the common assets and any ... We offer insurance for all strata risks, including: Our product strives for market leadership through its innovative features, superior quality and pricing ... Who should consider it? Strata insurance is compulsory in every state – so if you're part of an owners' corporation in a townhouse, unit, flat, apartment or ... 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 ...