What are the responsibilities of lot owners to maintain their own lots for insurance purposes?

May 5, 2021 ... Minimum insurance. Insurance is important to protect your owners corporation (formerly body corporate) and the personal assets of all lot owners ... Mar 13, 2024 ... Sedgwick addresses the biggest concerns of the strata community by offering tailored insurance solutions, simplifying policy complexities, preventing ... Strata Insurance provides cover for the common, or shared areas of apartment buildings or townhouse complexes. As well as insuring the building itself, ... Avoid churn-and-burn relationships as they erode trust, decrease long-term value, and damage your reputation. Instead, focus on building trusted partnerships ... Strata insurance protects the building and common areas or facilities, with the premiums paid for by the owner's corporation. Strata Insurance covers residential buildings within a complex and common areas such as garages, sealed driveways, and swimming pools. 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 ... Effective Nov. 1, 2020, amendments will require insurers or insurance agents to provide 30-day advanced notice directly to strata corporations of their ... The higher deductibles will affect you in two ways: 1. Your strata will no longer be able to make claims that would have been covered under your previous ... Many customized plans can bridge coverage gaps and provide specific benefits to supplement other major medical or health insurance coverage. LEARN MORE ...