In New Zealand? Visit quarter.nz for body corporates.
Building insurance is compulsory for a body corporate everywhere in Australia and New Zealand, and almost every building holds a policy. Far fewer can tell you when the sum insured was last checked against a real valuation, what the excess is, or what the policy does not cover. Construction costs have moved sharply since 2020 and many policies have not moved with them. That gap is not discovered at renewal — it is discovered at the claim.
A Tasmanian body corporate must insure the building for replacement value and hold public liability cover. Because most Tasmanian schemes are small and self-managed, the practical risk is not that the building is uninsured — it is that the policy is held in an individual owner's name, or that the sum insured has never been checked against a valuation because nobody was responsible for prompting it.
Governed by the Strata Titles Act 1998, administered by the Recorder of Titles.
It must be the body corporate's. An owner's personal policy does not discharge the duty.
In Quarter: Upload the policy and Quarter reads the insurer, policy number, dates, premium and broker straight off it, then puts the renewal on the calendar far enough ahead that you can go to market rather than accept a rollover.
If there has never been one, that is the first job.
In Quarter: Quotes, studies, assessments and correspondence attach to the decision that authorised them, so the file an assessor, an owner or a buyer's solicitor asks for is already assembled.
Tasmanian build costs have risen along with everywhere else, and rural rebuild costs can exceed urban ones.
These are the Tasmanian exposures and they are where the exclusions bite.
In Quarter: Put the agreement in your documents register and ask the Manager to summarise it — when it expires, how much notice it needs, what leaving early costs, and what they have to hand back. It reads the forty pages so the committee does not have to, and will turn the answer into a task with a date on it.
Even in a small scheme. The record is what protects everyone.
In Quarter: The ownership register, financial records, insurance, contracts and documents sit in one searchable place, so a handover is an export rather than an archaeology project — and they are still there when the committee turns over.
Two to three years, resolved so it outlives whoever currently remembers.
Extremely common in small Tasmanian schemes, and it fails the statutory duty.
A sum insured chosen when the building was subdivided and never revisited.
It does not. The duty is the same.
The premium is one of the largest single lines in most buildings' budgets, and it is the one most often accepted without a question. Two questions — is the sum insured right, and what are we actually covered for — change the answer more than shopping around does.
A renewal handled well takes an hour and saves years of exposure. Quarter is what makes that hour possible.
Certificate of currency, schedule, valuation and claims history in one place, current, and visible to owners rather than sitting in a broker's inbox.
Diarised well before the date, so the building goes to market rather than accepting a rollover three days out.
Building details, claims history, maintenance records and the valuation date, ready to hand over instead of reconstructed each year.
When it was done, when it is next due, and what the sum insured is against it.
Which policy, at what excess, on whose recommendation, minuted — so next year's committee knows why, and so does an owner who asks.
General information about Tasmania, not legal or financial advice for your building. Legislation is amended and grant programmes open and close — check the current position with the Recorder of Titles or the administering body before you act on anything here.
Tell us about your building in Tasmania and we will show you exactly how Quarter would run it.
