This article about flood insurance has been provided by Tyrone Shandiman, Strata Insurance Solutions.The need for flood cover in multi-storey strata buildings can be a source of dispute within strata communities.Generally, the definition of flood in an insurance policy is the covering of normally dry land with water released or that has escaped from the normal confines … [Read more...]
All National articles about Insurance in Strata Apartments published to our blog
QLD: Q&A Compulsory Construction Works Insurance Premium
This article about the compulsory construction works insurance premium has been provided by Tyrone Shandiman, Strata Insurance Solutions.Question: Is the Queensland Government's compulsory construction works insurance premium fair, or is this a revenue grab?GET NOTIFIED WHEN WE PUBLISH NEW Q&As, NEWS AND ARTICLES TO THE SITEIs the Queensland Government's compulsory … [Read more...]
QLD: Q&A High-Pressure Water Machine and Insurance Implications
This article about insurance implications around using a high-pressure water machine to clean common property has been provided by Tyrone Shandiman, Strata Insurance Solutions.Question: I have been told that our building manager cannot use a high-pressure water machine to clean our fences or paths due to insurance issues. Could this be correct?GET NOTIFIED WHEN WE … [Read more...]
VIC: Owners Corporations – OH OH! Insurers appointing their own legal representative to defend proceedings
This article about insurers appointing their own legal representative to defend proceedings in Victoria has been supplied by Richelle Berman, R Berman Lawyers.It has become usual practice for an insurer to appoint their own legal representative to take over the conduct of a proceeding where the Owners Corporation has been sued and has issued a claim on its insurance policy … [Read more...]
NAT: Q&A Yearly Increases To Strata Insurance
This article about yearly increases to strata insurance has been provided by Tyrone Shandiman, Strata Insurance Solutions.Question: Is there a regulated fixed percentage scale by which insurance companies increase their premiums each year? If so, what is it?GET NOTIFIED WHEN WE PUBLISH NEW Q&As, NEWS AND ARTICLES TO THE SITEAnswer: Insurance premiums fluctuate … [Read more...]
NSW: Q&A Insurance Requirements in Strata
This NSW article about insurance requirements in strata has been supplied by Tyrone Shandiman, Strata Insurance Solutions.Jump directly to the QUESTION you are after:QUESTION: We run a SEPP 55, over 55’s independent living strata titled retirement village with 104 properties. Do we need special property insurance because we are a retirement village?QUESTION: … [Read more...]
NSW: Q&A Is Your Marina Covered by Strata Insurance?
This article about marina insurance for strata lots has been supplied by Tyrone Shandiman, Strata Insurance Solutions.Question: Do you have information on Marina insurance attached to strata lots?https://www.youtube.com/watch?v=d5e01_zPZXE&feature=youtu.beGET NOTIFIED WHEN WE PUBLISH NEW Q&As, NEWS AND ARTICLES TO THE SITEAnswer: If the marina is for personal … [Read more...]
NAT: Q&A What does Public Liability Insurance Include for Strata Property?
This article is about public liability and strata insurance for volunteer workers.Jump directly to the QUESTION you are after:QUESTION: In a small strata scheme in NSW one owner has taken it upon himself to repair the roof. How can I inform him of the dangers to both himself and the owners corporation while still remaining a 'nice neighbour' in our small community? … [Read more...]
VIC: Q&A Owners Corporation is Not Carrying Out Repairs and Maintenance
These Q&As about owners corporation repairs to items such as a seperate water meter or the hot water systems in VIC has been provided by Joel Chamberlain, Horizon Strata Management Group.Question: Our Owners Corporation will not repair the two failing hot water systems at our scheme. Are the Owners Corporation being irresponsible in failing to maintain these items?We … [Read more...]
WA: Insurance Documentation for the AGM After Proclamation
This article discussing the changes to insurance documentation for the AGM and Strata Council Meetings After 1 May Proclamation Date has been provided by Leonie Milonas, PSC Property Lync Insurance Brokers.As we embrace the new Act commencing 1st May 2020, it will require changes and additions to the way things have been done in the past. This includes documentation for the … [Read more...]
WA: Temporary Suspension of Fire Maintenance Services Due to COVID-19 Concerns
This article about the implications of temporarily suspending Fire Maintenance Services in WA during the Coronavirus pandemic has been provided by Greg McCulloch, Westside Fire Services and Leonie Milonas, PSC Property Lync Insurance Brokers.In accordance with Australian Government orders, we have been asked as a community, to implement social distancing to stop the spread … [Read more...]
NAT: COVID-19, Insurance and Strata Properties – FAQs
This article about COVID-19 and the impact on strata insurance has been supplied by Lia de Sousa, Whitbread Insurance Brokers.With Coronavirus (COVID-19) officially declared a Pandemic, we understand you may have a number of questions regarding the impact on your insurance when it comes to strata properties. This fact sheet has been designed to address and clarify your key … [Read more...]
NSW: Q&A Are There Strata Laws Stopping Me From Gardening on Common Property?
This article about the insurance implications around lot owners gardening and maintaining common property has been supplied by Tyrone Shandiman, Strata Insurance Solutions and Karina Heinz, Progressive Strata Services.Jump directly to the QUESTION you are after:QUESTION: Are there any Strata laws that stop me from doing work in the garden or in a common area if I … [Read more...]
QLD: Self-Insuring Cyclone Cover – North Queensland
This article discussing the unfair cost of insurance in North Queensland has been provided by Tyrone Shandiman, Strata Insurance Solutions.The cost of insurance in North Queensland (& other parts of Northern Australia) is placing an unreasonable burden on bodies corporate, in some cases premiums are twenty times more than the cost of insurance in other parts of Australia. … [Read more...]
Strata Insurance Ratings for 2020
This article about the best strata insurance 2020 has been supplied by Simon Plummer, StrataRatings.You may recall that our 2019 Ratings unexcitedly had no changes from our 2018 Ratings. Well, things have changed this year!Again, we’ve seen a healthy number of policy updates in 2019 with 55% of residential policies and 63% of commercial policies receiving an update. … [Read more...]
NAT: High Premiums Leading to Rise in Uninsured Homes in Northern Australia
This Media Release from 20 December 2019 discussing high premiums leading to a rise in uninsured homes in Northern Australia has been provided by ACCC.Home, contents and strata insurance is becoming increasingly unaffordable in northern Australia, where the rate of households going without insurance is almost double that of the rest of the country, the ACCC’s latest … [Read more...]
NSW: Q&A How Often Do We Need to Have an Insurance Valuation?
This article about the requirement to have an insurance valuation done regularly has been supplied by Tyrone Shandiman, Strata Insurance Solutions.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?GET NOTIFIED WHEN WE PUBLISH NEW Q&As, NEWS AND ARTICLES TO THE … [Read more...]
NAT: Is Your Strata Property Prepared For Bushfire Season?
This article about preparing your strata scheme for bushfires has been supplied by Lidia Siljanoski, Whitbread Insurance Brokers.Spring bushfires in suburban areas of the Sunshine Coast in QLD, are a grave reminder that you don’t have to live in a rural area to be impacted by bushfires. The ferocity of these fires in early September, followed by horrific November blazes … [Read more...]
QLD: ABS Construction Costs Sub-Index 3019: An Important Development
This article about annual movements in construction costs and why this is important to strata insurance in Queensland has been supplied by Bradley van Xanten, UOAQ President.The UOAQ tracks construction costs based on quarterly reports from the Australian Bureau of Statistics (ABS).GET NOTIFIED WHEN WE PUBLISH NEW Q&As, NEWS AND ARTICLES TO THE SITEWe use these … [Read more...]
NSW: Q&A Landlord Access Gym and Pool While Apartment is Rented
This article about whether a landlord can access building facilities like the gym or pool while they have their apartment let has been supplied by Karina Heinz, Progressive Strata Services and Tyrone Shandiman, Strata Insurance Solutions.Question: My apartment in a multi level apartment complex is let for 6 months. As a landlord, am I able to still access the amenities like … [Read more...]
