Where do I find the Body Corporate insurance details for my building?  The (Nuu) The (Nuu) Co's clients can download a copy of the certificate of currency for their Body Corporate's insurance policies for free on their building's online Strata Vault which contains all of their Body Corporate's records.

Accessing your Body Corporate records
If you need another email invitation to log into Strata Vault, email us at hello@thenuuco.com.au with your name, lot number and building name to request another invitation link.It's free to log in.

About Body Corporate insurance
In Queensland, a Body Corporate created under a building format plan of subdivision or volumetric plan of subdivision, has a duty to obtain:

Building reinstatement and replacement insurance coverage for 'damage' and costs incidental to the reinstatement or replacement of each 'building' on scheme land in which a lot is located.

‘Building’ includes improvements and fixed structures forming part of a building, but excludes: carpet; mobile dishwashers clothes dryers or other electrical or gas appliances not wired or plumbed in; temporary wall, floor or ceiling coverings; fixtures which a lessee or tenant can remove at the end of a tenancy; mobile or fixed air-conditioning units servicing a particular lot; curtains, blinds or other internal window coverings.

‘Damage’ for insurance coverage required to be put in place by a body corporate, means damage from: earthquake, explosion, fire, lightning, storm and water; impact, malicious act, and riot; glass breakage.

The body corporate must include the full replacement value for the buildings stated in the most recent valuation, and the date of the valuation, in the notice of AGM or a note attached to the administrative fund budget.

Public risk insurance coverage for the common property and body corporate assets of at least $10 million for a single event, and at least $10 million in a single period of insurance to cover amounts the body corporate becomes liable to pay for: compensation for death, illness and bodily injury; and damage to property.

The body corporate may insure on the basis that an excess is payable on the happening of an insurable event, but has a duty to ensure the excess does not impose an unreasonable burden on lot owners who may become liable to pay the claim excess.