Owners Corporation Insurance to cover renovation | Talkin' 'bout a renovation | Flat Chat Forum: Your Questions Answered




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Owners Corporation Insurance to cover renovation
livestrong
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13/06/2012 - 12:50 pm
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We are in the process of having bylaws amended for renovations that we undertook in our unit (namely bathroom and laundry), and have just been instructed that we are no longer covered by the owners corporation insurance policy for what they are calling “illegal works”.

When we undertook the renovation, our architect was ill informed as to the extent of common vs private property when it comes to plumbing, so we are now retrospectively gaining council permission and an amendment to the strata by-laws for our unit.

What is confusing me, is how can the unit block insurance policy now exclude our renovation works or even the entire unit, as once the bylaws are updated and the exclusions in place, would we not still be covered by the overall policy?

Rgs

Livestrong

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13/06/2012 - 7:54 pm
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livestrong said
We are in the process of having bylaws amended for renovations that we undertook in our unit (namely bathroom and laundry), and have just been instructed that we are no longer covered by the owners corporation insurance policy for what they are calling “illegal works”.

When we undertook the renovation, our architect was ill informed as to the extent of common vs private property when it comes to plumbing, so we are now retrospectively gaining council permission and an amendment to the strata by-laws for our unit.

What is confusing me, is how can the unit block insurance policy now exclude our renovation works or even the entire unit, as once the bylaws are updated and the exclusions in place, would we not still be covered by the overall policy?

Rgs

Livestrong

Because they can.

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JimmyT
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14/06/2012 - 8:40 am
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Changes to Common Property usually are allowed on the basis that you take over responsibility for the bits you have changed.  That means they have to be covered by your insurance, unless they have reverted to Owners Corp ownership under the terms of the special resolution that allows you to change the CP. That's the key - whoever owns the CP after the work is done should logically have to insure it (or pay the bills if it fails and is uninsured).

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