Quick answer: Body corporate insurance usually focuses on the buildings and common property of the scheme. Owner insurance usually covers personal contents, valuables and other risks that are not insured by the body corporate policy.
Quick answer
The exact split depends on the policy wording, scheme rules and the nature of the loss. Owners and trustees should clarify the difference before a claim.
What the body corporate policy may cover
- Buildings and permanent structures
- Common property
- Geyser-related cover, subject to wording
- Public liability for common property incidents
- Selected extensions such as fidelity cover or trustee indemnity
What owners should consider separately
- Household contents
- Personal valuables
- Portable electronics
- Tenant or owner personal liability
- Improvements not clearly included under the body corporate policy
Why the distinction matters during claims
If water damage affects a unit, the building damage, contents damage, excess and maintenance responsibility may all be treated differently. Clear communication reduces disputes.
What trustees should tell owners
Trustees should communicate that the body corporate policy is not a full personal insurance policy for every owner.
Important: Insurance wording, excesses and claims handling differ between policies. Trustees should check the actual policy schedule, wording, scheme rules and renewal terms before making decisions.