Is your rental property income sufficiently protected?

Owners of rental strata properties need to ensure they take out insurance to cover landlord’s fixtures and fittings, rent default and public liability for inside their lots / units.

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Office Bearers Liability

It is common for lot owners to volunteer as members on Strata Committees without knowing this personally exposes them to risk. Office Bearers can become personally liable for any wrongful acts or inaction resulting in financial loss to others while acting on behalf of a Strata Scheme. Office Bearers Liability insurance is available as part of Strata insurance and can help you minimise personal exposure. 

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Volunteering at your Strata property. Is it worth the risk?

Strata residents often volunteer for odd jobs around their Strata property. However, they also tend to volunteer with the belief that they’re covered for Personal Accident under Strata Insurance if they become injured. Unfortunately this isn’t always the case!

Ensure your clients are fully informed of what is covered before volunteering their services, and whether it would instead be smarter to engage a professional contractor.

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how well do you know your commercial tenant’s site?

As a broker who negotiates with Insurers and Underwriters on behalf of Commercial Strata clients, it's important to enter the conversation with a clear understanding of the property and the associated risks. This means we must obtain all necessary risk information, including but not limited to, Construction, Occupancy, Protection and Exposure (COPE}, and a site survey wherever possible. This article outlines how commercial tenants· risk profiles are assessed and how these factors can influence pricing for clients. 

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