Tuesday, December 13, 2016

Insurance in Strata property

The body corporate insures the common property.

All that a lot owner owns is the cubic space within the walls of the building – and the contents.

You own and are responsible for the paint on the internal walls, the floor coverings, light fittings, kitchen cabinets and fittings.

Your insurer will be able to help you with this. Look at obtaining Strata Proprietors fixtures and contents insurance.

You should advise your insurer of any special by-law that shifts responsibility from the body corporate to the unit holders.