› Flat Chat Strata Forum › By-laws and outlaws › Too much insurance costs us › Current Page
Which takes precedence the by-law that the owner has signed or the strata insurance?
IMO the committee was wrong.
Because if the by-law somehow took precedence it would leave the lot owner in a situation where they could not insure their floor. That would likely be considered harsh. The lot owner’s insurance company is right – they won’t provide cover for something that is covered by another insurance policy – in this case it was covered by the OC’s compulsory insurance.
At best the lot owner might need to pay the excess. They don’t even need to OC’s permission to make a claim.
The OC could also investigate switching to an insurer that doesn’t cover a lot’s floating floors if it’s really such an issue for them.