Are there limited insurers for small strata schemes in WA?
I’ve been told by an insurance broker that unless it is a high rise multi million dollar property, insurance for small strata schemes in Australia are only available from Longitude, QUS, Strata Community and CHU.
Is this true? Otherwise, what other insurers will provide cover to a small complex of 6 2x1 single storey units in WA?
Are lot owners required to have public liability insurance?
Is there any obligation for lot owners to have Public Liability Insurance in place for their lot? If a resident is injured on Common Property such as a Garden area and the lot owner has no insurance, can they be sued for damages? The use is granted by the Council of Owners, but where does the lot owner stand?
Is there any obligation for the Council of Owners to request evidence of cover from all lot owners? As far as I can see, this is not addressed in the Act.
Why do i need to lodge a strata insurance claim through the strata manager?
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Why have I been referred to my strata manager to make a claim regarding our strata insurance?
Why are they involved? Surely the insurance company has a claims person though I note the Strata Company gets paid a "premium" when we take out insurance through their recommended broker.
Can a lot owner lodge a strata insurance claim without council approval?
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Can a lot owner lodge an insurance claim against the Strata Company insurance policy without approval from the Strata Council?
Can a Strata Manager assist a lot owner to lodge an insurance claim against the Strata Company insurance policy without approval from the Strata Council?
We were under the impression that a claim needs to be approved by the Strata Company prior to lodgement so the Strata Company may exercise their option to pay for damages and not claim against the policy.
Should landlords claim tenant damage on strata insurance?
Should a strata lot owner who rents out their lot have landlord insurance? I live in a 3 lot complex. The other 2 lots are rentals. The landlord lot owners make claims for damage caused by their tenants on our strata insurance. This has increased our strata insurance premium. This isn't fair. They are collecting rent on their lots and should have seperate landlord insurance to cover damage caused by their tenants. It doesn’t seem reasonable that I should bear the increase in insurance premiums for their tenant's damage.
Can a strata company pass higher insurance costs to a tattoo parlour?
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I'm a lot owner in a commercial strata plan. One owner has leased their lot to a tattoo parlour.
Lot owners have nothing against the business. However, our insurance has dramatically increased.
The strata company is trying to get other quotes, but we can't find specialist brokers to assist. Who provides this type of strata insurance? Can we pass on the increase in insurance premium costs to the tattoo parlour?
Is building insurance suitable for a WA strata scheme?
I am the Treasurer/Secretary of a self managed six lot complex in WA. Our chairperson arranged new insurance as we have found our previous insurance too expensive. The new insurance is with a company that does not offer strata title insurance. The type of cover is 'building insurance'. I note our previous insurance was 'strata title residential insurance'. Is the new insurance policy relevant to our scheme?