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I have recently had an offer accepted on a strata unit in South Australia. There are 3 units on the block, 1 completely separate and 2 attached via garages. There is no common area at all.
The strata information received with the Form 1 states there are no strata fees. It also states that each unit has their own building insurance policy. This does not sound right to me. I went to talk to the owner of one of the units today and they confirmed this, and that they are using QBE to insure their own unit. I am surprised QBE would accept this policy on a single strata titled unit.
Can separate insurance be taken out if the units are all clearly on their own lots with no common areas?
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Replies
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Simple answer, yes, if you are classified as a community scheme.
According to this factsheet, looking at it from the other direction, the law has been changed so that “the members of a community scheme will also be able to agree to insure some or all of the buildings in a community scheme through the agency of the corporation if they wish (even though the buildings are generally owned by members and are not common property).”
If you still aren’t sure, this factsheet has the phone number of SA’s free strata advisory service.
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