Anyone know where I can get PL insurance just for common areas?

I'm buying a unit, which is one of two on a block.

Currently, they have no PL insurance for the common areas, as each owner does their own thing and aren't obliged to have it (I believe).

I'd prefer to have it, even if I have to pay it all. My question is though, who exactly offers such a product - PL insurance on common property?

I've called a few companies and most say they won't do it.

Anybody able to help?

CHeers.
 
Hi D/Lurker

You must have building insurance for both units together, which is usually shared 50:50 if the units are the same size. I would be surprised if this policy did not cover public liability too? :)
 
I'm buying a unit, which is one of two on a block.

Currently, they have no PL insurance for the common areas, as each owner does their own thing and aren't obliged to have it (I believe).

.

You'll find the rules and regs at:
http://www.consumer.vic.gov.au/CA25...+&+Units~&3=60-New+laws+for+bodies+corporate~

You are correct in that in a dual occ, the insurance isn't mandatory.

I assume it is only the driveway that is common?

We have a unit in a block of four (with no active BC), and one of the other owners was good enough to set up the insurance (we're splitting 3 ways now - one of the owners isn't interested! :mad: Wait till they sell and see's how much help they get from us in issuing an OC certificate! :p) through Network Insurance Brokers / QBE

www.networkinsurance.com.au

To give you some idea, it's $350 total per year for $10m cover.

Cheers,

The Y-man
 
I'm buying a unit, which is one of two on a block.

Currently, they have no PL insurance for the common areas, as each owner does their own thing and aren't obliged to have it (I believe).

I'd prefer to have it, even if I have to pay it all. My question is though, who exactly offers such a product - PL insurance on common property?

I've called a few companies and most say they won't do it.

Anybody able to help?

CHeers.

Depending on where it is, it may not need to have a body corporate. If it does however, I read a post on here the other day that suggested if any accidents occur on the common property, it will be covered by the body corporate PL. (The post was in relation to a swimming pool)

You may want to check.

Cheers,

F
 
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