Owner Corporation Insurance

What is Owner Corporation Insurance?

Most properties owned by an owner's corporation consist of a building or a collection of buildings, which can include individual apartments, offices, industrial spaces, commercial units, or retail shops.

The Owners Corporation Insurance is the policy that protects the buildings owned by an organisation or group of individuals.

The insurance covers damage to the building itself, including fixtures, as well as any consequential damage, and it also includes legal liability for common property. However, it does not cover normal wear and tear.

What Does Owner Corporation Insurance Cover?

Owner Corporation Liability Insurance covers the owners with :

General liability
Management committee liability
Property damage
Crime
Voluntary workers compensation
Legal advancement costs