I own a rear duplex that shares a garage firewall with the front duplex on the block. Is the home part of a strata title complex for the purposes of home insurance?
I own a rear duplex that shares a garage firewall with the front duplex on the block.
I own my lot including the driveway to the front of the block. The front duplex and I have no common areas.
The Certificate of Title states "Lot of 2 of Strata of strata plan XXXXX ..... together with a share in property (if any) as set out on the Strata Titles Plan".
When I'm applying for home insurance, multiple insurance companies state they don't insure strata-title buildings, however, they do cover contents.
Is the home part of a strata title complex for the purposes of home insurance?
Based on the information provided, it appears your property is part of a two-lot strata scheme.
Although there may be no shared facilities or common areas, the building shares a common wall. As a result, the building is generally more appropriately insured under a strata insurance policy rather than a standard home insurance policy. This is why many home insurers will not insure strata-titled buildings, even where they are effectively a duplex.
The appropriate insurance arrangement is usually for the building to be insured under a strata policy, with each owner arranging their own contents insurance.
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.
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Tyrone Shandiman is a seasoned professional in the insurance industry having embarked on his journey in 2004 within the financial services sector. In 2011, he established Strata Insurance Solutions, transforming a garage startup into a reputable firm servicing over 900 clients with a dedicated focus on strata insurance. Tyrone's role extends beyond managing operations and tackling complex insurance matters; he also founded the Australian Consumers Insurance Lobby, championing consumer rights within the insurance industry. Notably, his efforts and expertise have been acknowledged with numerous industry awards. Adding to these accolades, Strata Insurance Solutions was recently named an Australian Top Brokerage by Insurance Business Australia Magazine, a testament to the firm's excellence and leadership in the field. Tyrone is a regular contributor to LookUpStrata.
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