[SEL] NHMA

Ron Page page at velocitynet.com.au
Tue Oct 12 16:58:17 PDT 2004


Hi Curt

Steve may live on an estate and be required to have personal liability
insurance and may have other costs like Body Corporate Fees (but that is
another matter).  In my case I have house insurance and Contents insurance
and I have determined the level.  I am prepared to take risk that any damage
or theft does not exceed those levels.  As for liability insurance I am not
sure whether either policy includes this and, at present, I am happy with
the my lot.

You are lucky that the Councils don't demand insurance cover for public
events - wish that was the case here.

As for our compulsory third party insurance on vehicles we do not have a
limit.  Usually the large amounts are determined by the courts and legal
process can take many years to resolve,  Particularly when you have claims,
counter claims, through the local court, supreme court, high court.

Ron

----- Original Message -----
From: "Curt" <curt at imc-group.com>
To: "The SEL email discussion list" <sel at lists.stationary-engine.com>
Sent: Wednesday, October 13, 2004 12:06 AM
Subject: Re: [SEL] NHMA


> Kerry,
> I read Steven Kitto's statement of  "On the house where I live I am
> required to have liability insurance (A$20000000)."
> as a requirement to have insurance much like the requirement you have to
> have insurance for public gathering.
>
> In the US we are not required to have insurance for public gatherings
> either. Most show owners/clubs would be nuts to go it without insurance,
> but nonetheless it is not required.
>
> We too have a requirement for automobile liability insurance but nothing
> approaching the 20 mil mark! The amount of insurance you purchase is
> again dependent on your personal assets. Many people carry the minimum
> of around 50,000. Some 300,000 and few even have 1 million dollar
policies.
> It is all a matter of covering your personal assets. There is no sense
> in being "insurance poor".
>
> BTW for those visiting AU next fall/March and will be driving, are we
> going to be required to purchase Australian insurance for driving, or
> will our US policies be sufficient?
>
> Curt
>
> Kerry wrote:
>
> >G'Day Curt
> >
> >You don't have to have insurance in OZ either, not saying that in some
> >housing estates it may be a requirement by whoever, but I know of no
forced
> >requirement (in NSW anyway) just another example of confusing statements
> >being made to support their urguments.
> >I will be told if I am wrong but the only required insurance of any type
I
> >can think of at the moment is 3rd party insurance to register a vehicle.
> >The $20mil seems the normal limit if you take liability insurance, the
legal
> >system has a lot to answer for, lawers and judges have stuffed the place.
> >
> >
> >
> >
>
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