A strata corporation policy and a unit-owner policy cover different interests. Buyers and owners should compare the current strata deductibles and policy terms with their own coverage instead of assuming the building policy protects the household.
Decision points
- 01
Obtain the current insurance summary attached to the Form B.
- 02
Ask the unit insurer about the actual building deductibles.
- 03
Do not treat deductible size as a prediction that the owner will owe it.
Build the two-policy comparison
Record the strata policy limits, major deductibles, exclusions, recent claims, material changes, standard-unit definition, earthquake terms, and loss history. Ask the unit insurer how contents, improvements, liability, additional living expense, loss assessment, and deductible coverage respond.
Keep responsibility separate from coverage
Whether an owner is responsible for a loss and whether a policy responds depend on the facts, bylaws, legislation, court decisions, exclusions, limits, and wording. A public checklist cannot determine liability or coverage.
Stress the number without predicting a claim
The strata-exposure tool can show a unit-share scenario beside capital work, but the full building deductible should not automatically be assigned to one owner. Use the exercise to identify the written insurance and legal questions that remain.
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