CoverWell is an advocacy group set in 2023 up by a group of Apartment Owners/Body Corporate Chairs concerned about the affordability and availability of insurance in Wellington.
They believe the current state of insurance for apartment buildings is unsustainable and will have a significant impact on apartment life and the city.
Apartment buildings and townhouse developments in unit title ownership, company share or cross-lease ownership are in scope. The key is that building insurance is purchased as a single policy.
For more information visit the CoverWell website: https://www.coverwell.nz/
Open https://www.coverwell.nz/resources to download flyers for Body Corporate Chairs. You can also access a Form for providing contact details and some information about your building. Also on this page is 3-page document which may help to fill some of the gaps with how EQC works for apartments.
For more information contact Geraldine Murphy:
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‘The Post’ article January 20th 2024: Quake compliance costs burying apartment owners
Excerpt: How much is a life worth? $1.86 billion dollars if you own an earthquake prone apartment, apparently.
The dream of hassle-free inner city living for many is crumbling under the weight of “bad legislation” as thousands of occupants of apartments are being financially buried by escalating earthquake-prone building compliance costs.
Former Wellington apartment owner Hazel Kirkham has put a case to key Government ministers arguing that the earthquake prone building provisions in the 2004 Building Act should be repealed. READ MORE >>
