What are the insurance considerations for balconies with structural defects?

Strata insurance covers the building, including internal structural elements of units, but the contents are an individual responsibility. 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 ... Chubb Strata Insurance Product Disclosure Statement (PDS) and Policy Wording, Australia. Published. 02/2024. ©2024 Chubb Insurance Australia Limited. Chubb ... About us. Strata Insurance Group is an Independent Insurance Agency representing dozens of insurance carriers. Through these channels we can confidently satisfy ... 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 ... Sep 23, 2024 ... on average, strata Insurance policies are currently experiencing premium increases of 10-20% or more for properties with no outstanding claims ... Strata Insurance Final Report. Read BCFSA's report into B.C.'s unhealthy strata insurance market. · Consumer Alerts. Alerts are published by the BC Financial ... Oct 27, 2022 ... Covers against any claim for compensation or expenses that you become legally liable to pay for such as personal Injury or property damage, ... This coverage offers financial protection if you're required to pay a portion of a Strata Corporation deductible when an insurance claim is filed. Strata ... 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.