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Cannot get strata insurance till strata application started??

Discussion in 'Development' started by chrsq, 4th May, 2016.

  1. chrsq

    chrsq New Member

    Joined:
    3rd Jul, 2015
    Posts:
    2
    Location:
    WA
    Hi everyone,

    A long time lurker and first post.

    I have a situation where i am trying to get insurance for my build strata and the insurance agent cannot give me a quote until he has the application number for the strata. The company who built the units is saying they cannot do the application until handover.

    The silly thing is they builder wants a copy of the insurance 5 days before handover.
     
  2. chrsq

    chrsq New Member

    Joined:
    3rd Jul, 2015
    Posts:
    2
    Location:
    WA
    An update on this....

    I ended up getting an online quote with no problems then saw this in the special conditions.

    If formal registration of an intended Strata Plan has not occurred at the
    inception date of this policy, then We will provide cover under the policy
    to the Named Insured from the inception date of the policy for the period
    of insurance: or a period to the date of formal registration whichever is
    the lesser period in duration.


    I emailed this to my agent which he then rang and spoke to someone higher up where he got his information from. Apparently he was misinformed and the person who gave the information will not have a good afternoon...

    This was my agents first built strata (and mine) and he received poor information which caused us both a lot of stress, just glad I was getting quotes elsewhere.

    Anyway, i got my first post out of the way and look forward to the next.
     
    Gockie likes this.
  3. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,941
    Location:
    Sydney
    Welcome to the forum chrsq! Please feel free to participate in any topics you have any kind of interest in... :)