We offer tailor made solutions for both commercial and residential strata/body corporate properties for Strata Managers/Owners/ Developers. We adhere to providing insurance covers as per different regulations of states in Australia.
The products we offer:
- Property Insurance – As per regulations, the sum insured will be for replacement or reinstatement as how the property was prior to loss/damage. Also included will be any contents to be insured under Common Contents.
- Public Liability – which will cover any liability claim arising out of Only Common Area against the owners’ corporation towards their negligence……… Essential cover Under every state’s regulation.
- Temporary Accommodation or Loss of Rent – in case of any damage, the property has been declared unliveable, then the cost of temporary accommodation for owners to stay elsewhere under advise from insurers. It will cover the loss of rent for landlord/owner if due to damage, the property has been declared unliveable and tenant is unable to pay the rent. Rent is as per the written agreement between landlord/owner and tenant.
- Fidelity Guarantee – Provides protection against fraudulent or misappropriation of funds of the owners’ corporation Comes as feature of the policy provided by all insurers included in the policy.
- Voluntary Workers Compensation – Covers compensation paid to the person who voluntarily agrees to do some odd jobs or repairs. The voluntary worker will not get paid and the works small or big are always recorded and approved by the committee. This cover also comes as a feature of the policy and is included in the policy by nearly all insurers.
- Office Bearers Liability – Covers against any wrongdoing by the Office Bearers who hold a responsibility in an owners’ corporation due to which a liability has arisen… This is an optional cover but a recommendable one.
- Catastrophe Cover – If a loss is declared as catastrophe by state or federal government, then an additional amount ( as per option of either 15% of sum insured or 30% of the sum insured is chosen by the committee/owners’ corporation) will be paid over the sum insured provided the full sum insured is exhausted… This is an optional cover.
- Machinery Breakdown – Covers any loss or damage which happens to machinery such as lifts, roller doors, sump motors, gates with electrical arms due to sudden or unforeseen events. This cover is not a maintenance cover… This is an optional cover.