Body Corporate
Navigating the complexities of a Body Corporate arrangement can be daunting. Let us assist you and make sure the right decision is made.
Body corporate insurance provides financial protection for buildings and shared property within unit-titled developments, ensuring that common areas and structures are covered against risks such as fire, natural disasters, theft, and accidental damage. A body corporate is a legal entity created when land is subdivided under the Land Title Act, and it comprises all unit owners within the property. By law, body corporates are obliged to insure the building, common property, and shared contents to their full insurable value, whether the property is residential or commercial. This means that when you purchase a unit, you automatically become a member of the body corporate, sharing responsibility for the insurance and upkeep of the complex. Our team of brokers can help you navigate the options and find the perfect cover for your needs.
At C&R Insurance, we’re serving the insurance needs for Central Otago and Southland. Because we believe insurance should be personal, we come to you and value face-to-face conversations and providing straightforward advice. We help you assess whether your current policy reflects the true cost of your body corporate risk, including changes to the property, usage, or governance arrangements. We also assist with reviewing your coverage regularly and making sure your insurance keeps up with changes to your complex and its shared spaces.
At C&R Insurance, we can make sure your body corporate has the right level of cover - combining specialist protection for shared property with everyday insurance needs, securing the best prices from trusted providers, and acting as your single point of contact to manage it all.
Why Body Corporate Insurance Matters
Living in a body corporate complex involves shared risks that individual owners cannot insure on their own. Because common areas such as lifts, car parks, driveways, gardens, gyms, pools, and playgrounds are jointly owned, any damage or liability in these spaces affects every member. Body corporate insurance is designed to protect the building structure and shared property, ensuring the entire complex is covered under one coordinated policy.
Key features include:
Building and structural cover for floors, walls, ceilings, balconies, and permanent fixtures.
Protection for shared facilities, including lifts, car parks, driveways, courtyards, gardens, gyms, laundry areas, pools, spas, playgrounds, and tennis courts.
Public liability cover for third‑party injuries or property damage occurring on common property.
Agreed value options to provide certainty in total‑loss situations and avoid claim‑time disputes.
Additional benefits such as temporary accommodation, towing or emergency support, and legal liability protection.
Coverage reflects the collective nature of ownership, with insurance costs shared among members through levies. Under Section 135 of the Unit Titles Act 2010, body corporates must insure all buildings and improvements to their full insurable value, ensuring the entire complex is protected under a single policy. Individual owners remain responsible for their own contents insurance, while the body corporate committee or management company oversees compliance, maintenance, and shared‑space governance.
Benefits
Body corporate insurance provides coverage for common property, such as shared walls, hallways, and communal facilities, protecting against damage or loss.
It offers liability protection for accidents that occur in common areas, covering legal costs and compensation claims from residents or visitors.
Help cover the cost of repairs or rebuilding after events like fire, flood, or storm damage affecting the building's shared spaces.
It ensures that all residents are financially protected in case of unforeseen events, maintaining the value and integrity of the entire property.