Re: Are we paying too much for insurance?
Strata Insurance Policies, and particularly those arranged by Strata Manager / Commission Agents, seem to routinely include a whole lot of optional policies for risks that some Owners Corporations aren’t…
Re: Government audit insurance
DD – that option covers your Owners Corporation’s (O/C) costs of professional services such as those provided by a accountant if it is audited by the ATO or some other…
Re: Are we paying too much for insurance?
Their are loads of online insurance quote sites for insuring property so just feed in the value of the house and location as though it is a freehold property and…
Are we paying too much for insurance?
The following question is simple. Any thoughts?- JT Why is strata insurance so expensive? For a block of two units on the NSWCentralCoast, building sum insured $952,000, legal liability sum…
Government audit insurance
Our SP has a $25 K government audit insurance. Could someone enlighten me as to why it would be necessary please?
Re: Insurance Excess
Take them to Fair Trading (the residential tenancies division, not the strata side). Failing that, raise an action at the magistrate’s court for a full refund plus costs – that…
Re: Insurance Excess
My son has all but given up on getting any of his $1000 back. The strata plan for his building was registered before balconies and windows became common property. Therefore…
Re: Obligatory insurance values for Owners corporations?
Cosmo: 1) I think Jef’s issue was overinsurance not underinsurance. 2) The “underinsurance clause” you describe applies only for a partial loss, not a total loss. For a total loss,…
Re: Obligatory insurance values for Owners corporations?
Must admit I don’t agree with some of Cosmos comments. The one I totally agree with is that the insurance is for the strata you have NOW not the one…
Re: Obligatory insurance values for Owners corporations?
Hi Jeff, You may have this all covered but the OC needs to understand the possible consequences of insuring at a value other than what is determined by the valuer.…
Re: Obligatory insurance values for Owners corporations?
@Jef said: Question: does the strata manager (entitled to commission on the insurance) have the authority to refuse the EC request? Jef NO he doesn’t. You tell him what to…
Obligatory insurance values for Owners corporations?
Dear Jimmy Last November our Strata property etc were valued by a qualified insurer, after the owners agreed to such valuation at the AGM in October. Our buildings were valued…