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This question relates to Strata Units located in NSW.
A leaking hot water system located in the garage has caused damage to carpets, floor tiles (making them rise), wall skirtings, and soaked into the gyprock walls. The damage has been extensive because the Unit is a holiday rental, which was vacant so the leak wasn’t picked up for 4-5 weeks. Is this damage covered by Strata Insurance or by Contents Insurance?
Also, if damage was caused to other Units due to the water leak, or to Common Property, which insurance is it covered under?
Thank you for your advice.
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I believe you are asking the wrong question.
First you need to determine who owns the hot water tank. Is it one lot or is it the OC?
The insurance company insures “building” and “contents” according to their definitions of “building” and “contents”.
However, you never know your luck. Just ask the insurance company if they will pay a claim for that hot water tank. If the insurance company considers the hot water tank to be a “permanent fixture”, you might have a claim.
My property was flooded from the above unit via burst hot water system. OC insurance covered everything except for the tenants personal property. All my floors and kitchen cabinets were flooded. Make sure you get the insurance company to fix. Don’t do a cash settlement because they will rip you off.