Part of a strata complex with body corporate insurance? Thinking your insurances are taken care of through the Owners Corporation’s insurance programme? No. They are not. As an individual unit owner you own the air space within 4 walls of your unit. The walls and the common areas outside your 4 walls are Owners Corporation responsibility. The insurances you contribute towards via your strata levies are there for the owners group needs and not your individual needs. This not only means you are responsible for insuring your own improvements, fixtures and fittings but you are also responsible for insuring your own Public Liability as the individual owner of the unit. Imagine you have prepared a concrete floor surface with a sealant and hi wear paint (in preparation for your new tenant). There is a slip and fall inside the factory unit as a result and the tenant (or his workers compensation insurer) decides to recover from you -the unit owner. Unless you have established your own Property Owners Liability insurance then this may well be an expensive legal defence and possibly settlement you have to fund on your own.