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?
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Answer: If the marina is for personal and private use, then it falls under the strata policy generally.
Yes, marinas are covered by strata insurance, but some insurers will have exclusions around commercial use for marinas.
If you use the marina for private use and for example the storage of private boats, then generally you’ll find that under both the property insurance and liability insurance sections of a strata policy there will be cover for the marina.
When you start to become commercial, it is something the body corporate should speak to their insurance broker about because they may need to look at specific marine insurance and speaking to marine insurers about a policy for that marina separate to your strata insurance.
If the marina is for personal and private use, then it falls under the strata policy generally. If it’s for commercial use, that’s something that the broker should look at and provide a solution for the Owners Corporation.
This post appears in Strata News #385.
Tyrone Shandiman
Strata Insurance Solutions
T: 07 3899 5129
E: [email protected]
This information is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Shandit Pty Ltd T/as Strata Insurance Solutions strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances. Shandit Pty Ltd T/As Strata Insurance Solutions is a Corporate Authorised Representative (No. 404246) of Insurance Advisernet Australia AFSL No 240549, ABN 15 003 886 687.
Have a question about marina insurance for strata lots or something to add to the article? Leave a comment below.
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Hi Christine – The response provided is based on cover in insurers polices and is not limited by state. You should seek specific advice from your insurance broker about the coverage provided under your policy. Feel free to contact me if you would like a review of your current policy.
Tyrone Shandiman
[email protected]
1300 554 165
Strata Insurance Solutions
http://www.stratainsurancesolutions.com.au
This information is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Shandit Pty Ltd T/as Strata Insurance Solutions strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances and the specific coverage afforded under their policy wording. Shandit Pty Ltd T/As Strata Insurance Solutions is a Corporate Authorised Representative (No. 404246) of Insurance Advisernet Australia AFSL No 240549, ABN 15 003 886 687.
Regarding the Marina Insurance – Could i please have someone confirm this is the same for Western Australia and where i could locate further information in this regard.
Thank you
Chrisitine