Landlord's insurance and Strata Title

[djsherly]

From a thread in the accounting part of the forum...

Originally posted by michaelg
Hi,

And if you're not aware, please obtain landlord insurance insurance ... the insurance will cover your public liability, or if the water damage had made the place unlivable, then it would have covered your loss of rent (check each policy for what they cover of course). Check for malicious damage too, what if the shower was damaged in a fit of rage or something?

Michael G

In a strata development, part of the fees are for public liability insurance, and for building insurance.

Would this mean that landlord's insurance would not be necessary. I would suspect that the public liability would only cover the grounds of the property only, and not the internal areas?

Chris.

 

[XBenX]

exactly correct

the PL cover on landlord insurance is for the internal areas (although some double up and also include common areas again)

the PL of the strata covers common areas

 

[RPI]

I own a block of strata units and therefore I own each of the units and the body corporate as such. I have landlords insurance for each of the units (on the one policy) and separate insurance policy with a specialist insurer for the body corporate.

Darryl