Community Title Insurance – Are You Properly Insured?

From time to time we receive telephone calls from our clients who are unsure of what insurance they need on their Community Title Property.

Is Community Title Insurance the same as Strata Title Insurance?

No. The requirements of Association’s and Owners Corporations under their respective Act’s are quite different and it is very important that owners get the right advice as to what types of insurance are required for Community Title Property.

In a Strata Title Property the Owners Corporation are required to insure the building, which would generally include the dwellings, including fixtures and fittings and any common areas improvements to the land.

In a Community Title Property, the insurance requirements are guided by the requirements of the Management Statement for the property, and in general terms is limited to insuring the Association Property, which can often include items like roadways, street lights and any common facilities like basketball courts, tennis courts, community rooms and the like. The Association must also have Public Liability and Voluntary Workers cover. Workers Compensation is also needed where required by legislation.

In a Community Title Property, Lot Owners are responsible for insuring their dwelling and any improvements to the Lot.

We strongly recommend that owners speak to a broker or legal advisor to get a better understanding of the insurance requirements for their Lot. We include several links below for your information:-

CHU Underwriting Agencies

NSW Office of Fair Trading

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