Start a new discussion
Where an owner has a lot, created under a standard format plan, where the building upon it is freestanding, then that owner must insure both the building and the contents. This is subject to the owner participating in a voluntary scheme.
All lot owners must arrange their own contents policy to cover carpets and non-fixtures, public liability insurance and workers compensation insurance within their lot.
Typical examples of what is covered are:
The Body Corporate Insurance covers things such as:
However it does not cover (owners are responsile):
It would be ideal for an owner to organise contents insurance as the Body Corporate’s insurance covers fixtures within the building, the contents insurance covers your furniture, lighting, etc.
Important note: If your Body Corporate has no adjoining lots and you are registered as a Standard Format Plan then the Body Corporate’s insurance does not cover your building.
