The type of insurance you need on a flat depends heavily on its legal ownership structure. If your flat is part of a managed apartment complex or strata scheme governed by a Unit Title, the building structure and common areas are insured collectively by the Body Corporate via maintenance levies, meaning you only need to purchase standalone contents insurance for your personal belongings. However, if your flat is structured under a cross-lease or separate title, you are personally responsible for acquiring a dedicated residential buildings insurance policy alongside your contents coverage.
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