ozzietars – the benefit to your Strata Manager amounts to 20% of the premium paid by your Owners Corporation to its Insurer, and people like me ask what Strata Managers do consequent to receiving that benefit, and why they and their Association/s argued so strongly against a NSW State Government proposal to make such commissions illegal?
It made absolutely no sense to me why a self-managed Plan such as mine, obviously with no Strata Manager, couldn’t get 20% straight of the top of our Premium, and despite years of asking I never received a sensible or logical answer.
So last year, I wrote to our long-time insurers and asked whether, on the basis of our loyalty, our documented efforts to regularly identify and correct risks (that I supplied to them), and our good claims record, they would review our Premium.
The result was a very succinct e-mail response, advising that the Premium that they’d already provided on our “invitation to renew” would be reduced by 22%, amounting to almost $1,800; better than a poke in the eye with a blunt stick I say!
As for possible Strata Insurers, there’s one who’s banner appears in the scrolling display above the Login panel on this website, and an internet search will likely reveal four (4) others (in NSW). In my experience, base premiums seem around the same between insurers, but a couple of the more specialist ones provide optional covers that do vary both in availability, scope, and cost.