Strata Building Insurance Valuations is a type of insurance that helps to protect the common areas and assets of a strata scheme. This can include things like the building itself, common fixtures and fittings, and even contents insurance for items like furniture and whitegoods that are owned by the strata scheme.
There are a number of different factors that can affect the value of Strata Building Insurance Valuations, and it’s important to be aware of them so that you can get the right level of cover for your property.
The first factor is the location of the Strata Building Insurance Valuations property. If it’s in a high-risk area, then the insurance premiums will be higher. This is because there’s a greater chance of something happening that would require a claim to be made.
The second factor is the age of the property. Older properties are often more expensive to insure because they’re more at risk of damage. This is particularly the case if they’re not well-maintained.
The third factor is the type of property. Different types of Strata Building Insurance Valuations properties will have different insurance needs. For example, an apartment block will need different cover to a commercial office block.
The fourth factor is the value of the property. Obviously, the more valuable the property is, the higher the insurance premiums will be. This is because there’s more at stake if something was to happen to the property.
The fifth factor is the level of cover you need. The more cover you have, the higher the premiums will be. This is because there’s more risk involved for the insurer.
The sixth factor is the excess. The excess is the amount of Strata Building Insurance Valuations money you have to pay towards a claim. The higher the excess, the lower the premiums will be. This is because you’re taking on more of the risk yourself.
