Do we need office bearer insurance?
We are a small complex of 7 villas. We have five resident/owners on the SC. We are looking at renewing our insurance but are considering taking out some cover under…
Re: Must SM get three insurance quotes?
@Yakov said: Our SM provided his commission paid by insurance company during an AGM, but refused to provide 3 quotations from different providers written reason not provide it. He said…
Re: Bridging the gap between building and contents insurance
I agree with JimmyT But that clause in the “Who’s responsible?” document is going to keep tripping us up and, reluctantly, my view is that you have to decide whether…
Re: Bridging the gap between building and contents insurance
I agree that the statement is not entirely accurate – in fact, this is something I have been saying for years … if common property fails, and that causes damage…
Re: Bridging the gap between building and contents insurance
I do not believe that the following statements are entirely accurate: “For instance, if a pipe bursts in a common property wall, strata insurance will cover the repair and make-good,…
Re: Must SM get three insurance quotes?
Our SM sends 3 quotes to the Strata Committee, they choose one which is presented at the AGM. Reason being the renewal date doesn’t necessarily line up with the AGM…
Must SM get three insurance quotes?
Our SM provided his commission paid by insurance company during an AGM, but refused to provide 3 quotations from different providers written reason not provide it. He said that it…
Re: Bridging the gap between building and contents insurance
Interesting, thank you. However, does this mean the firm offering cover for live-in owners, or maybe I haven’t read it all properly. Also, would the firm’s offerings of cover for…
Re: Insurance Co forcing tenant to reimburse for damage to common property
Yes. Agreed re car insurance. My contents insurance covers me for liability if I run into someone on my bicycle, even far from home, but not for anything I might…
Re: Strata manager claims insurance is invalid due to council LEP
To be fair, it sounds like the strata manager is merely giving the committee some ammunition to use against owners who want to let their units on Airbnb. None…
Re: Strata manager claims insurance is invalid due to council LEP
Lady Penelope is right, the SM can’t make a unilateral decision/declaration like that. It’s up to the insurance company. And a draft by-law doesn’t mean anything. I am not a…
Re: Bridging the gap between building and contents insurance
Very interesting. Our NSW strata is insured by ‘Strata Community Insurance’ on behalf of Allianz Australia Insurance Ltd. This policy in Section 10 covers (with limits) Lot Owners fixtures and…