QLD Standard Format Plan Unit - Contents Insurance or Do I Need Contents/Building Insurance?

Jazza2400 on 04/07/2020 - 17:10

Hi folks,

Yes, I know I should contact the body corp for clarification in the first instance but since it is a Saturday and I'm keen to hear anyone else's experiences:

If I have a unit in a standard format plan, do I need just contents insurance or both contents/building insurance?

It seems that if a tree falls on just my unit, I'm wholly responsible for the repairs, but if it was to fall across my unit and the one next door, it falls under body corp insurance.

How do I make sure I am covered, for example, a burst pipe flooding the entire unit and needing to replace things like floor tiles or kitchen cabinets?

According to a QLD gov page under SFP:

The lot owner is generally responsible for:

the inside of the building, including all fixtures and fittings (except utility infrastructure that is common property)
the outside of the building within their lot boundary, including exterior walls, doors, windows and roof
the building foundations
all lawns, gardens and driveways inside the boundary of their lot
utility infrastructure (like equipment, pipes and wiring) that is inside the boundaries of the lot and only services that lot
any fixtures or fittings (including on common property) that were installed by the occupier of a lot for their benefit
exclusive use areas the owner has the benefit of, unless the exclusive use by-law says otherwise.

Thanks for your time. Naturally understand that nobody can give financial advice and to follow up with body corp.

Financial

Comments

  • jjjaar on 04/07/2020 - 17:16

    I’ve been told that the difference is: contents insurance is for everything that falls out if you could pick up the house and top it upside down; everything that remains -the structure- is building insurance.

    This may be more for apartments though, but it might not.

    Have a look in any body Corp minutes, there should be a certificate of your building insurance if it does apply to your units.

    If they are separate for you, it is entirely possible that a claim like a burst water pipe might need to dip into both insurances. Body Corp building insurance for say the pipes and walls, but your own contents for floors and kitchen cabinets.

  • Ocker on 04/07/2020 - 18:12

    I understand that in Victoria, as a general rule the body corporate insurance covers everything beneath the floorboards and above the roof line. Inside the unit is the unit owners responsibility

  • brokenglish on 05/07/2020 - 00:54

    How do I make sure I am covered

    Find one that covers all that you want covered. I think lately it's made simpler like landlord/renter/owner-occupier/apartment/house/etc.
    Contents-only insurance generally does not cover fixtures and fittings.
    Different insurance providers have different meaning on their contents and buildings insurance.
    You have to peruse their TnCs as well as your body corp insurance's so you know exactly what's what.
    Get a copy from your body corp.

    a burst pipe flooding the entire unit and needing to replace things like floor tiles or kitchen cabinets?

    Just had something like this happened recently so it's still fresh in my mind.
    Burst pipe from apartment hallway, water entered all units.
    (It'd be a different story if the burst pipe was from inside the unit).

    Your insurance:
    Replace damaged carpet, damaged floorboards, damaged tiles inside unit
    Anything portable that doesn't affect the structure integrity of the building

    Body corp insurance:
    Clean and dry the water inside and outside unit
    Hallway carpets
    Walls and skirting boards inside and outside unit (part of building structure)
    Anything permanent connected to the walls is usually body corp (something that covers ceiling to floor), e.g. fridge cabinet and panels connected to wall
    Anything related to the structure integrity of the building

  • mrham on 05/07/2020 - 10:00

    https://www.qld.gov.au/law/housing-and-neighbours/body-corpo…

    This will explain everything

  • crashloaded on 05/07/2020 - 14:09

    I only have contents insurance. To answer your question re: internal flooding, you will be responsible unless you can prove the flooding was caused by a building pipe and not an internal one.

    It can be frustrating, for example the balcony is part of my lot, so any required repairs on the balcony are my responsibility, but the body corp also says I have to ask permission to make changes to the balcony when I own it 😐

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