Question: Does Insurance cover any structure that is not compliant with the BCA or any damage from fire that emanates from that structure?
Question: Do you have information on Marina insurance attached to strata lots? Answer: It depends on whether the marina is for personal or commercial use.
Strata buildings should pay particular care to indemnity, waivers and hold harmless clauses when entering into strata management contracts. We have recently reviewed strata management contracts and found clauses that should raise concerns for committees.
Question: Now the requirement to get an insurance valuation has been removed from the legislation, how often do we need to have a valuation done on the building?
Queensland lot owners of strata properties need to be mindful that air-conditioning units, whether fixed or not, are not covered by strata insurance.
Question: Could you please confirm that a plumbed-in dishwasher is excluded from strata title insurance under Strata regulation in QLD?
Question: Our insurance has doubled over the past 12 months. We have a green board cladding, which has been certified as safe, on our buildings. Is there some sort of lobby group tackling this?
Question: Is there a requirement to have a proper Strata product in all states or what are the strata title insurance requirements around Australia? Or can lot owners just take out a Domestic home product?
What building sum insured do you require? As part of appropriate due diligence, Bodies Corporate should take the time to review the adequacy of their sums insured when their insurance policy renews.
Question: My floorboards were saturated due to water damage and they all need to be replaced. Strata have said I must pay the excess on the strata insurance policy ($5,000). Is this usual practice?