Re: Strata Insurance!!!
JC – in simple terms, your owners corporation (O/C) is allowing itself to be double-dipped! The commission paid to strata managers by ALL insurers is a contentious issue at least…
Strata Insurance!!!
As a relative newcomer to Strata life I have just been exposed to the details of our insurance policy. Our building of around 50 lots is paying a insurance premium…
Strata insurance just got a lot smarter
It’s a staple joke in just about every cop show – don’t shoot him … it’s too much paperwork. We hate filling in forms, don’t we? And as for the…
Strata insurance just got a lot smarter
It’s a staple joke in just about every cop show – don’t shoot him … it’s too much paperwork. We hate filling in forms, don’t we? And as for the…
Re: Insurance valuation frequency and qualifications
There will be no compulsion to review insurance under the new legislation. Here is the definitive answer, from a Ministerial spokesman: Section 83 (2) of the Strata Schemes Management Act…
Re: Insurance valuation frequency and qualifications
LGA – I think that the original requirement for 5 yearly valuations by a Registered Valuer in the current Act was repealed (at sect 85?), but nonetheless the original “exposure…
Re: Valuations for Insurance ?
Hello MyAimIsTrue, Insurance Valuations are approached differently by different professionals. Personally, I measure all buildings and cross check against the areas denoted on the Strata Plan. Areas such as foyers,…
Insurance valuation frequency and qualifications
NSW Post. I’ve noticed the proposed NSW Strata Schemes Management Bill 2015 (yet to commence) does not advise the frequency of insurance valuations. Presumably the yet to be advised Regulations…
Re: Insurance for renovation
I think that insurance is a very personal choice. Of course the whole point of insurance is to prevent against unexpected situations which is why we make our customers take…
Re: Valuations for Insurance ?
I don’t know anything about ‘standard practice’ etc. What I can say is that when we get our 5 yearly valuation the valuer doesn’t ask for and is not given…
Valuations for Insurance ?
Most readers here will know the Owners Corporation is required to have the building valued for Insurance at least once every 5 years in NSW. At the last AGM Owners…
Re: Insurance for renovation
I should think that your original content insurance should cover your renovations to be honest. Most content insurance policies I’ve seen while handling my storage facility in Adelaide seem to…