WHAT IS A FLOOD?

Each insurer has their own definition of what constitutes a flood.  Owners Corporations should refer to the applicable Product Disclosure Statement for a full definition.

IS FLOOD COVERED UNDER A STRATA BUILDING POLICY?

Strata insurance policies do provide storm cover but do not provide flood cover.   Flood cover may be requested by Owners Corporations however insurers will assess their willingness to offer flood cover based on the location of property and the proximity of rives, lakes and dams.  This extension of cover, if granted, would attract an additional premium.

WHAT IF I RENT OUT MY UNIT?

Unit Owners need to purchase Landlord Contents and Public Liability Insurance as separate policies to the Strata cover. Landlord contents insurance includes carpets, curtains, blinds, light fittings and electrical appliances not actually wired into the premises and any furniture provided. The policy also provides Legal Liability protection for any third party property which may occur at the premises and for which the unit owner may be legally liable.  Landlords must have a separate Landlord Public Liability insurance policy. 

Additional covers available are:

• Malicious damage and theft by Tenant/s
• Loss of rent including default by Tenant

 WHAT IF I LIVE IN MY PROPERTY?

As an occupier of a unit, you should arrange cover on your furniture, personal contents, jewellery, collections and other special items. Personal contents insurance policies provide Legal Liability protection for any third party injuries or damage to third party property that may occur anywhere in Australia.

OTHER THINGS YOU SHOULD KNOW

Claims Procedures

Contact your Owners Corporation Manager if the property is professionally managed and they will advise you of the procedures for lodging a claim. If your property is not managed then contact Whitbread Insurance Brokers on 03 8646 0222 and speak to your insurance broker.

Certificate of Currency

Should you require a Certificate of Currency or need to note the interests of a Mortgagee on the building policy you can either contact Whitbread Insurance Brokers on 03 8646 0222 or fill in an online application.

A $33.00 fee applies for all Certificate of Currency requests which can be paid for using our PayPal facility. Certificates are processed within 3 working days. Should you require a certificate urgently a fee of $55.00 is charged and the certificate will be issued the same day. Urgent certificates are not available over the internet.

Important Reminders

If you rent out your unit, you are a landlord and will need a Landlord Insurance policy.  Click here for further information on the Landlords insurance policy offered by Whitbread Insurance Brokers.

If you live in a unit, you will need Householders Contents Insurance policy.  Click here for further information on House and Contents insurance.

The above information is an overview only and should only be read as general advice. Please contact our office or your Owners Corporation Manager to obtain a copy of the policy wording, Product Disclosure Statement for full conditions and exclusions or for personal insurance advice.