› Flat Chat Strata Forum › By-laws and outlaws › Too much insurance costs us › Current Page
04/08/2021 at 11:22 pm
#57537
Anything inside a lot, including floor covering is the lot owners responsibility. Is this not the case?
It’s definitely not the case with compulsory strata insurance.
While compulsory strata insurance must cover the common property, it typically covers more and can include things such as lot owned buildings, fixtures, fittings and improvements. Often that “extra” cover is legislated. But sometimes the insurers include it so that they can offer a single nation-wide policy that meets or exceeds all the legislations.