BY: KATE O’ROURKE, COMMUNITY MANAGER
Many owners are unaware of their responsibility in relation to insurance cover when they purchase a lot that forms part of a body corporate.
Questions that I am frequently asked by my bodies corporate are:
The information provided below should assist with your insurance queries.
If your building is insured by the body corporate, the policy will cover the full replacement value of the building structure, including:
The building cover includes:
If your building has wallpaper in the common areas, paintwork or light fittings this would also form part of the building cover.
The common area contents include:
washing machines and dryers owned by the body corporate which are housed on common property for the use of all residents in the scheme.
The following items are not covered under the strata policy and owners must take out individual cover over these items:
In New South Wales personal contents does include:
For more information on insurance please refer to the Department of Justice and Attorney-General website