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The types of communications available electronically are subject to change, and if additional communications become available in an electronic format, you will receive those communications electronically. Occasionally, in addition to electronic communications, you may also receive a hard copy document.

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Simply speak to our team or select the Portable Contents option when getting a quote for your CHU Contents Insurance policy.

Yes. Certain items such as medication, customised medical equipment, and motorised scooters may not be covered. Be sure to read the PDS for full exclusions and conditions.

Typically, owners corporation insurance does not cover the personal belongings of individual unit owners/residents. Owners corporation insurance only covers the shared or common property within the strata building.

An owners corporation (also known as a body corporate in some states) manages and maintains common property in strata-titled buildings. Insurance is essential to help maintain and protect shared areas and assets from damage, liabilities or unexpected events.

Notify CHU of pending claim – retain damaged equipment for inspection.

This compensation is only available in the event of insured property under the policy being damaged by any cause not excluded whereby the damage renders a lot uninhabitable. A material damage claim must exist in the first instance. The benefit is calculated on the weekly rentable value of the lot effected. The rentable value can be ascertained by way of either copies of Lease Agreements, where applicable, or liaising with local Real Estate Agents.

Loss of rent compensation is only available in the event of insured property under the policy being damaged by any cause not excluded whereby the damage renders a lot uninhabitable. A material damage claim must exist in the first instance. These situations usually require an assessor due to the extent of damage to the building – contact CHU. The benefit is usually paid directly to the lot owner and not the Body Corporate. The benefit is calculated on the annual rentable value of the lot affected, less expenses. The rentable value can be ascertained by way of either copies of Lease Agreements, where applicable, or liaising with local Real Estate Agents.

Temporary Accommodation – this cover is basically the same as the above cover however in this case the owner is living in the unit. An entitlement is based on the same criteria of the rentable value of the property as with the loss.

Emergency Accommodation – the policy responds to the reasonable emergency accommodation costs necessarily incurred in the event of an admissible claim for loss or damage to the insured property, whereby the unit occupied by a unit owner for residential purposes becomes uninhabitable.

Is loss of rent/rentable value cover additional to the sum insured on the building?
Yes. This benefit provides up to 15% of the building sum insured and is additional to replacement of the building itself.

Is any amount payable to tenant?
No. The policy only covers the owner. Any loss by the tenant should be claimed under their contents insurance.

Insurers are required under legislation to make adjustments, known as ‘decreasing adjustments’ on claims settlements in circumstances where no input tax credit or only partial input tax credit has been claimed on the policy premium. Where full input tax credits are available on the premium, no decreasing adjustment applies. The decreasing adjustment method uses the taxable percentage of the insured to calculate the correct input tax entitlement. Legislation imposes a responsibility on the insured to provide insurers with the following information, which will allow them to accurately settle any claim:

  1. the GST status of the insured, ie. is the insured registered for GST or not?
  2. if the insured is registered, their ABN
  3. the percentage of input tax credits the insured is claiming, or is entitled to claim i.e. the insured’s taxable percentage.

Failure to accurately declare the extent to which an insured is taxable imposes a GST liability on the claim settlement. This liability is borne by the insured.

Fire claims should be immediately reported to CHU. A loss assessor is normally appointed to investigate, quantify and supervise replacement.

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