Question: Who is responsible for strata insurance excess in WA?
I had an accidental fire in my unit. In all previous insurance claims from lot owners, the property excess was always paid by the Strata. We have no recovery cost by- law. Who is responsible for strata insurance excess in WA?
Answer: The Strata Titles Act 1985 WA (STA) appears silent on insurance excesses.
The Strata Titles Act 1985 WA (STA) appears silent on insurance excesses. The strata is responsible to insure the Insurable Assets, as per the STA under s97 Required insurance. Insurable Assets includes the parts of scheme buildings that comprise of lots. If no other agreement or by-law is in place on who is responsible to pay the excess inside a Lot, then the usual practice is the excess is paid by the strata.
Leonie Milonas PSC Property Lync Insurance Brokers E: leonie@lyncinsure.com.au P: 1300 127 503
General Disclosure; The above response is for informational purposes only, and is not insurance, financial or legal advice and should not be relied on as insurance, financial or legal advice. You should consult with a qualified insurance or legal advisor. PSC Property Lync Insurance Brokers is an Authorised Representative (AR 1235681) of Professional Services Corporation Pty Ltd (AFSL 305491).