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You are here: Home / Insurance / NAT: Q&A Strata Insurance cover for items in apartment storage cages

NAT: Q&A Strata Insurance cover for items in apartment storage cages

Published May 10, 2016 By Whitbread Insurance Brokers 2 Comments Last Updated September 29, 2020

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This article discussing strata insurance regarding storage cages for apartments has been supplied by Lia de Sousa, Whitbread Insurance Brokers.

Question: For lot owners to rent spare storage cages in our apartment building, our Strata Manager insists they take out full insurance. Is this insurance necessary?

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I’m after information regarding renting storage from the Strata Committee.

We have eight empty storage cages in our garage area and owners would like to rent them to store personal belongings. The Committee has agreed to allow this for a small fee, however, our Strata Management Company has informed our Chairperson that an insurance policy will have to be taken out by the individual renters for a sum of $10,000,00.00 each before they can take up the rental.

Does this sound like the correct procedure? Do the lessees need this insurance? If they do not have it, can the Committee be liable somehow?

Answer: It is good practice to ensure that any occupants intending to rent a storage cage have taken out the necessary insurance.

It is good practice by the Strata Committee to ensure that any occupants intending to rent a storage cage have taken out the necessary insurance e.g. contents insurance and / or liability insurance.

If the party renting the cage has no relevant cover in place, there may be some exposure to the Strata Committee in the event that loss, damage or injury occurs, particularly if the cages are located in the common area.

This post appears in Strata News #260.

An insurance warning for those that live in Apartments – Steve and Basil, 6PR882 News Talk. June 2019

Have a question or something to add to the article? Leave a comment below.

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Read next:

  • Does Strata Insurance cover items in storage cages for apartments?
  • QLD: Q&A Car Park Storage. Furniture … tyres! I want this rubbish gone!

Are you interested in further articles concerning things like insurance cover of storage cages for apartments or more information about Strata Insurance policies? Visit Strata Insurance OR Strata Information Pages by State.

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Comments

  1. AvatarNikki Jovicic says

    July 18, 2018 at 7:53 am

    We have received the following question into the site via email:

    There was break-in to my storage care area in the basement of my apartment. The fence of the storage area has been cut open and I would like to know who covers the repairs or replacement of that actual fence please (not the contents in the storage cage area).

    Would you be able to advise if the owners should be responsible to pay the strata insurance excess or would the Owners Corporation be responsible for this? Just seeking clarification if the strata insurance excess should be coming out from the Owners Corporation funds or from individual affected owners?

    Lia de Sousa, Whitbread Insurance Brokers provides the following response:

    If the Owners Corporation has a Strata policy in place than I would say that the replacement/ repairs to the fence would fall under the Owners Corporation insurance.

    This is not an easy question to answer as it would depend on what rules the Owners Corporation put in place. The general rule that most Owners Corporation would go by is if the incident occurs on common property than the Owners Corporation is responsible for the excess.

    Reply

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