What are the insurance implications of noise complaints or property damage caused by short-term rental guests?

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. An insurance broker can arrange strata insurance on behalf of the owners' corporation. "As a strata owner, you also have a share of an unlimited liability ... 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. AAMI Strata Insurance offers cover for strata titled buildings with common property(such as apartments and townhouses) for incidents such as break-ins and ... Jul 30, 2021 ... The issue that we're all facing is the high deductibles for sewer/flood under the entire building's insurance that strata buys every year. Feb 18, 2024 ... Strata will have a building insurance policy which will cover things like damage to the structural building, common property areas etc. You ... 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 ... Strata insurance typically covers common area contents, the building and shared property in the event of loss or damage. Generally, events like theft of common ... Jan 23, 2025 ... There are many specific requirements for insurance in strata schemes but as a general rule all insurances are taken out by the body corporate. Strata Insurance is a type of insurance specifically designed for owners and managers of strata properties.