What Cover Covers What?

Below is a brief description of the main sections of your policy

Building and Common Contents

Cover against physical loss or damage to your building and common contents occurring during the period of insurance up to the sum insured.

Legal Liability Cover

For claims for compensation or expenses, which you become legally liable to pay in respect of personal injury or property damage, happening as a result of an occurrence arising in connection with the ownership of the property

Workers Compensation

Is only required when and if the Owners Corporation directly (ie., not through the strata manager) engages a contractor, the contractor is not operating as a company and the contractor is engaged on a regular basis.

Fidelity Guarantee

Cover for the body corporate funds which are lost as a result of an event where theft, embezzlement, misappropriation, conversion or fraud occurs during the period of insurance

Personal Accident (Voluntary Workers)

Following an accident causing an injury to a voluntary worker the insurer will pay a capital benefit payment or weekly benefit payment

Office Bearer’s Liability

Cover for your officers against claims arising out of any actual or alleged wrongful act(s) occurring and reported during the period of insurance, in managing the body corporate affairs

Machinery Breakdown

Cover for any sudden and accidental damage to any Machine or part thereof which resulting in the actual breaking, seizing, deformation or burning out of any part of a Machine causing stoppage of the functions thereof and necessitating repair or replacement before it can resume its normal function.

Catastrophe Cover

Provides cost effective protection against the sudden escalation in rebuilding costs that invariably occurs due to the happening of a catastrophe (eg., an earthquake, firestorm or cyclone) or other loss that occurs to the Insured Property not more than 60 days thereafter.

Government Tax Audit

Provides cover against the cost of an audit by the ATO or other Statutory Body.

We are able to go through each section in detail to ensure that you have the cover you need and are not paying for cover you DON’T!