@JimmyT said:
From my reading of the Owners Corporation Act, two lot stratas are exempt from the legal requirement to insure common property which means it’s hard to compel your neighbour to do anything in regard to insurance.
Well, we both have mortgages, so there is a legal requirement there in any case (at least for us as individuals). The fact that it’s a common building suggests to me that getting insurance just for half of the property might be difficult, but I haven’t looked at it in depth. No time; it’s never been an issue for me before, and this came up at the eleventh hour making it hard to do in-depth, methodical planning and thinking. Good thought about CHU; I’ll be having a discussion with them when the opportunity arises, which will probably be around the middle of next year. I think I’ll also have a chat with a conveyancing solicitor I know (who, by coincidence, handled my side of the purchase, and the sale side of the other unit’s purchase by the other owner.)
By the way, your current insurers sound so lackadaisical I wonder if you are actually insured at all.
I know what you mean. They did give me a certificate of currency, though, so I can point at that and say that there is cover – but frankly, given the issues to date combined with my strata managing friend’s comments (for example, “$INSURER does not pay claims” – which I take to mean as “$INSURER takes far too long to pay claims”), I’m not comfortable accepting them as the insurer of choice.
Still, as the saying goes, the first step is admitting that you have a problem… damnit, why do I have to be so picky and pedantic about the fine details?
