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…He has contacted the managing agents several times and they have (eventually )said they will reimburse him less the insurance excess. Is this correct?…
With the caveat that my knowledge is ACT not NSW. Our standard practice had been that unit owners had to pay the excess. However, the Unit Titles Act states that insurance must cover various things but every insurer has an excess so it is not practically possible to get insurance that covers the required matters 100%. This has been interpreted to mean that the OC has to pay the excess and we are now budgeting to cover a number of claims excesses each year. If NSW has a similarly absolute statement about the items to be covered, then it seems likely to me that the OC would have to pay the excess for the same reason.