What are the insurance considerations for vacant lots within a strata scheme?

Do you need Strata Insurance? Strata Insurance is mandatory in Australia and covers common property under a strata title or body corporate. When purchasing a ... Who should consider it? Strata insurance is a compulsory in every state - so if you're part of an owners' corporation in a townhouse, unit, flat, apartment or ... 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 ... Welcome to Strata Insurance. Badly managed Insurance processes cause anxiety and stress for you, your Owners Corporation Management colleagues. Strata Insurance covers residential buildings within a complex and common areas such as garages, sealed driveways, and swimming pools. Aug 21, 2023 ... Transaction to create leading corporate risk and strata insurance offering in Australia and New Zealand. Sydney, 21 August, 2023 – Marsh, ... i The growing construction costs have led to an increase in the insured values of B.C. strata buildings (i.e., the replacement and repair costs that insurers ... cleaning. • insurance. • gardening. • small maintenance jobs. • building insurance. • utility bills for common property. • administrative costs. • strata ... What is Strata Insurance? · Strata Insurance covers the owner's corporation for loss of or damage to buildings, contents of common areas, Public Liability and ... Aug 17, 2022 ... The owners corporation of each property is obligated to take out strata insurance to cover the building, common area contents, and additional legal liability.