Common Area Liability – Domestic Only
A body corporate begins to exist when a plan of subdivision is registered within units, flats or townhouses that have shared common property.
Owners of single or multiple lots that have a plan of subdivision which includes common property such as:
- storage areas
automatically become a member of the body corporate.
A body corporate (whether active or not) should take out and maintain
Public Liability insurance cover of no less than $10 million, as advised under the regulations for the common property areas.
– The annual cost for $10,000,000 public liability is $389.73*
– The annual cost for $20,000,000 public liability is $489.73*
If you require phone operator assistance, the policy cost is $449.73*