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Does your buildings insurance policy cover 3rd party cars beyond secondary gates? Unlikely

  • April 20, 2021
  • Chris Gray
  • Building Management
  • Building management, building management companies, Building Manager, building managers

Most residents and strata committees would not be aware that their insurance policy likely stipulates that only cars registered at the buildings address are insured beyond secondary gates.

This is one of the reasons why visitor parking is usually before secondary gates. So what does this mean? One point is if a resident leases a parking space to a non-resident third party and damage to the building occurs, the building insurance will not cover the damage repair and will likely be at the cost of the lot owner.

For strata communities trying to stamp out residents leasing their car spaces, this reason alone leaves little wriggling room for these residents to argue.

The exception to these insurance policies are third party contractors performing works at an owners corporation request.

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