Strata insurance premium increases

[Project1080]

Has anyone noticed an increase in Strata insurance premiums lately?

AGM for a Strata Corp was held last night and proxy advised today that Strata fees to go up $50 P/Qtr x 10 units (22%) OMG!. $30 of the increase was to cover Strata insurance premium increase.

Yes we had made a claim in the past but to increase insurance by $1200 P/A is a bit rich. There's not that many Strata insurers (underwriters) around so not as if we can easily tell them to go jump.

Project 1080

The project: 10 IPs in 80 mths.

 

[Gools]

Who looks after your strata? Wonder if it's a sign of things to come for everyone else.

 

[Project1080]

Unit Care manages. Not sure the insurer though. I think CHU.

If it ain't the banks or petrol companies, it's the insurers who'll be the death of me. Just hope the insurance company will pay out my death cover. Knowing them, they'll say death is an exclusion and I should have declared it prior.

Project 1080.

The project: 10 IPs in 80 mths.