Insurance premiums for mandatory building and public risk insurance are often some of the most expensive costs for a Body Corporate every year.
Did you know that very often, built into the base premium your owners pay, is a commission paid from your insurer or broker direct to your body corporate manager?
These commissions can be up to 20% of your base premiums.
In a time where insurance premiums for buildings are increasing, it is even more important for owners to gain greater control over Body Corporate expenditure. Here at The (Nuu) Co, we proudly refuse to accept any commission from your base insurance premiums (and everything else your Body Corporate buys too). This:
reduces your Body Corporate's base insurance premium; and
reduces the taxes calculated on top which are payable to the Federal (GST) and State governments.
We believe this is a win-win outcome for your owners and your Body Corporate and ensures more of your owners' pooled funds can be spent on enhancing the value of your shared asset.
In April 2022, The (Nuu) Co assisted a Broadbeach high rise to save over $60,000 on their building insurance premium, by simply forfeiting commission - a real win for owners.