The strata corporation’s policy does not replace a unit-owner policy. A buyer should compare the strata coverage and deductibles with personal liability, contents, improvements, additional living expense, and available deductible or loss-assessment coverage.
Decision points
- 01
Obtain the current strata insurance summary and deductibles.
- 02
Disclose occupancy, rentals, renovations, and claims accurately.
- 03
Get written confirmation from a licensed insurance representative.
Align the two policies
Ask which property the strata policy defines as standard, the major deductibles, recent claims, and any exclusions or conditions. Then ask the unit insurer how the proposed personal policy responds to those exact features.
Do not infer coverage
Coverage depends on policy wording, limits, exclusions, loss facts, and applicable law. Parcel & Key can organize questions and cost inputs but cannot determine whether a future claim will be covered.
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