Key points of coverage - residential

Property enquiry risks existing before settlement

1 Errors in local government rates, water rates, land tax certificates or owners corporation / body corporate/strata management company certificates. [Note: Maximum liability under this covered risk is limited to $1.5 million.]
2 Errors made by a conveyancer or solicitor in the review of local government rates, water rates, land tax certificates or owners corporation / body corporate /strata management company certificates. [Note: Maximum liability under this covered risk is limited to $1.5 million.]
3 A proposal to acquire the land being purchased by a government, statutory or local authority that would have been disclosed had the relevant enquiry been made. [Note: Maximum liability under this covered risk is limited to $1.5 million.]
4 Any loss arising from adverse circumstances affecting the land being purchased – such as heritage issues, statutory easements or drainage and / or sewerage issues – that would have been disclosed had the relevant enquiry been made. [Note: Maximum liability under this covered risk is limited to $1.5 million.]
5 Encroachments and other problems that would have been revealed by a boundary / identification survey. [Note: Coverage under this covered risk is only provided for properties up to 50 acres.]
6 Forced removal of illegal building works. [Note: Maximum liability under this covered risk is limited to $160,000.]

Note: this material is intended to provide general information only. For specific coverage, conditions and exclusions please refer to the policy terms and conditions.