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?
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.
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.
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