What does catastrophe insurance cover?

Insurance for residential strata buildings and common areas and contents from theft, storm, water damage and fire as well as legal liability. 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 ... We cover you for damages to the building, its contents, loss of rent and various owners' liabilities that you have. We offer a comprehensive policy that will satisfy the requirements of the Strata Act and ensure the building is properly covered in the event of a loss. 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 ... 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 ... 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. Your strata insurance coverage includes legal liability protection for the Owners Corporation. While this doesn't cover individual unit owner liability, it does ... 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. Jun 12, 2023 ... Many strata insurance policies provide an optional section of cover called “Machinery Breakdown” or “Equipment Breakdown” to guard against monetary losses.