All Topics / Help Needed! / Insurance for Strata Unit

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  • Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    June 25, 2008 - 12:01 am

    Just a quick question… do I neen to get building insurance on a strata unit I have just purchased or does the body corporate cover that? Finance has just been approved and 3 weeks to settlement. Does body corporate cover my building or just common property building? cheers
    tugger

    Profile photo of Jon ChownJon Chown
    Member
    @jon-chown
    Join Date: 2007
    Post Count: 254
    June 25, 2008 - 12:45 am

    Tugger, The easiest way to explain is that you own and are responsible for the inside and the Body Corporate is responsible for the outside.  So in answer to your question, Yes you do require strata cover for the inside.

    Jon

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    June 25, 2008 - 8:22 am

    good onya jon…thanks for that info..cheers
    tugger

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