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A Body Corporate has a statutory responsibility to be insured in a specific way. The provided policy must reinstate the damage up to the sum insured which is defined in the reinstatement insurance valuation upon which the insurance is based.

All principal and accessory units and all common property must be insured by the Body Corporate unless all principal and accessory units in the Unit Plan are standalone units in which case the Body Corporate may by special resolution resolve that the individual owners may insure their principal and accessory units.

The Body Corporate remains responsible for insuring the common property.


Body Corporate Insurance provides cover for the building as well as common areas. Common areas can include floors, walls and ceilings, balconies, gardens, lifts, car parks, pools, spas and tennis courts. Every policy is different, so it’s important to be aware of the specific insurance cover requirements of your Body Corporate agreement.

Body Corporate Insurance also gives you the option to include Public Liability, providing cover against third party damage or injuries that may occur on your premises.

To discuss the right options for you, contact us today.