Organising annual insurance is one of the most important tasks assigned to the body corporate. We are here to guide you to the best providers and to give advice on features to look for, what to avoid and unnecessary policy upsells.
All body corporate and multi-unit entities must hold a principal insurance policy. This policy will cover all of the buildings and improvements but most importantly, it covers all property in common spaces that are not covered under individual policies. It protects everyone financially in the event of the unexpected.
Over time we have built a list of trusted insurance providers. These insurance professionals specialise in the needs of multi-unit dwellings. They will answer your questions, provide a quote and talk you through your options. We recommend Rothbury Insurance Brokers as our preferred service provider. However, we believe that market competition is important and are happy for you to select any insurance broker you would like to work with.
Most clients only use a registered valuer to determine the value of their property for insurance purposes which we arrange automatically every two years prior to going to Tender. We can put you in touch with qualified building consultants, surveyors and other experts who can provide a more comprehensive overview of your property’s value. This will help confirm that you have the correct level of cover.
Your broker will use everything at their disposal - experience, people and resources - to achieve the best possible result for you. Once you have decided on your policy, your dedicated Barfoot & Thompson manager will review the details as a secondary safeguard. A body corporate that has reduced or eliminated the risk of being under-insured in the event of a total loss, is our goal.
In addition to coverage for a total loss, your policy should also cover the following: