Insurance

All owners corporations must take out reinstatement and replacement insurance for all buildings on the common property. This covers the cost of repairing or rebuilding ...continue reading Reinstatement and Replacement Insurance

An owners corporation can obtain valuations of the buildings it is required to insure. A prescribed owners corporation must obtain a valuation every five years of all buildings that it is liable to insure and present the valuer’s report at the next general meeting.  

Owners corporations must also take out public liability insurance for common property to a minimum of $10 million. Public liability insurance must cover any liability ...continue reading Public Liability Insurance

In almost all situations, an owners corporation must take out both reinstatement and replacement insurance and public liability insurance for all lots in a multi-storey ...continue reading Multi-Storey Developments

The owners corporation can, by ordinary resolution at a general meeting, decide to take out any insurance that it considers important to safe guard the interests of the ...continue reading Other Insurance