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QUESTION: I am on our executive committee and have been trying to get an insurance payment for water damage repairs to one unit’s ceilings and fixing the leak above it- a total of $26,000. However, our insurance broker is negative about our chances (since the insurance company knocked us back, because it wasn’t an emergency, rather, a slow leak). I have asked several times to take it to the Ombudsman. Do we have to go through a broker? Would we be better off with a large insurance company and no broker?
ANSWER: The general consensus from the Flat Chat Live Panel was that the broker was right about the insurance – it’s wear and tear, not an accident – but wrong to not at least inform the owners corp what their options were in regard to challenging a response to a claim. If you want to find out more about that, ASIC has a very handy web page HERE.
Regarding whether or not it’s better to have a broker, the feeling was that a good broker provides a service to both the customer and the insurer and you would be better finding a broker who will give good advice than dispensing with brokers all together.
The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.
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