This article discusses Queensland duplex strata and landlord insurance and the cover needed when you own both units.
Question: I own both units of a duplex on one piece of land. I reside in one and rent the other out. There is a shared roof and driveway. What type of insurance do I need?
Answer: You need Strata Insurance covering the building and public liability insurance for common areas.
In Queensland, the BCCM Act requires that a body corporate must insure buildings with shared walls. In this instance, you will need Strata Insurance covering the building and public liability insurance for common areas and you will need a separate contents/landlords insurance policy covering contents items not covered by strata insurance.
With regard to what is not covered by strata (and covered by contents/landlords insurance) – the basic principle is that if you pick the unit up and shake it anything that falls out is lot owners contents + temporary flooring such as carpet, blinds & curtains, appliances that are not permanently attached, aircon units servicing an individual lot (QLD only).
This post appears in Strata News #591.
Tyrone Shandiman Strata Insurance Solutions E: tshandiman@iaa.net.au P: 1300 554 165
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 Advisenent Australia AFSL No 240549, ABN 15 003 886 687.