What are the potential pitfalls of neglecting strata insurance matters?

Dec 13, 2022 ... A general guide to help explain how the responsibility for repairs may be governed in cases where the strata corporation's insurance policy is not triggered. 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 ... 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 is a type of insurance that covers common property, common areas, and shared assets in a strata-titled property. Strata insurance policies are ... Nov 28, 2024 ... Recommendations in the policy paper look at ways insurance affordability can be addressed and owners' corporations can be supported to deliver ... Your strata insurance coverage includes legal liability protection for the Owners Corporation. While this doesn't cover individual unit owner liability, it does ... Strata Insurance policies cover material damage as a result of an insured peril to structural fixtures including fixed plant, machinery and underground services ... Strata insurance covers the building, including internal structural elements of units, but the contents are an individual responsibility. 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 ... What does strata insurance cover? · building fixtures such as pipes, hot-water systems, intercoms and air-conditioners · common property including gardens, ...