What are the insurance implications of shared services like hot water or electricity in a strata scheme?

Strata insurance covers the building and common property around the building. The cover normally extends as far as the fences and driveways and includes ... 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 ... With insurance rates for condos and townhouses climbing 50 to 300 percent – and in one case nearly 800 percent – condo and townhouse owners in BC are worried. Energising the strata insurance market: affordability, availability, competition - May 2023 Strata Insurance Disclosure Handbook User Guide - Sept 2023 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 ... Chubb Strata Insurance Product Disclosure Statement (PDS) and Policy Wording, Australia. Published. 02/2024. ©2024 Chubb Insurance Australia Limited. Chubb ... Effective Nov. 1, 2020, amendments will require insurers or insurance agents to provide 30-day advanced notice directly to strata corporations of their ... Does Strata Cover Building Insurance? Strata building insurance covers the building, common area contents, loss of rent/temporary accommodation, and public ... Mar 21, 2022 ... Strata insurance is designed to cover all shared elements of a strata building or property. The following list outlines commonly accepted strata insurance ... Strata insurance can cover the building and all common or shared property, and contents which belong to the owners' corporation. The type of cover and its cost ...