Strata property defects are becoming increasingly common, and claims are not always as straightforward as owners might expect. This article explores what constitutes a defect, why some insurance claims are denied, and the practical steps Owners Corporations, strata managers and lot owners can take to safeguard their property and achieve the best outcome.
What strata owners need to know about insurance claims
Living in a residential strata property means shared spaces – and sometimes shared risks. From graffiti to fire or flood, it is important to know you are supported. Our claims team offers clear advice and practical tips to help owners and communities achieve the best outcome. Here’s how you can help the process run smoothly.
Ensuring the right insurance coverage for new strata developments
For developers of new strata properties in Australia, securing comprehensive insurance coverage is a critical step
in the development process. However, common questions often arise, particularly around the need for detailed construction material breakdowns and percentage allocations. In this article, we address some of the most frequently asked queries and explore key considerations when insuring new developments.
Insurance and claims information for strata properties
With the predicted weather events for NSW and QLD, we are aware that there may be a significant number of claims for water damage, with lodgements expected to increase. Our team is prepared and ready to assist. To help you navigate this situation and the insurance claims process, we have provided some important information.
Resolute’s holiday hours & emergency assistance 2024
As the year draws to a close, we extend our thanks to our valued customers, partners and colleagues. During the holiday season the Resolute office will be observing the following public holidays…
Catastrophes, Coronavirus, and its’ effect on Insurance Claims… “It’s not business as usual”
The effect of recent natural disaster catastrophes, and the Coronavirus (COVID-19) on the claims insurance market.
A guide to property defects and Strata Insurance
Do any of the OC properties you manage have defect issues? Are your clients hoping Strata Insurance will cover the defect and resultant damage? Unfortunately it isn’t quite that simple. Renee Cassidy, Claims Manager at Resolute Property Protect explains… With high demand for property and inner city living, apartment buildings
Not satisfied with a Strata claim outcome? There are options to take it further.
If your client receives a Letter of Denial for their insurance claim, it isn’t a particularly welcome outcome, especially if they feel the insurance claim should have been covered under the policy. However, they are able to take comfort from the fact that a denial letter doesn’t have to be
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
Strata Insurance doesn’t cover items in your storage cage
The rapid rise of apartment-style strata living across Australian cities has coincided with a significant increase in the number of people using storage cages to store their belongings. This trend has come about due to the limited space in many modern apartments. Unfortunately, an increase in the use of storage