Coverage
What is insured, what is specifically excluded, and which extensions are optional?
Business insurance · Community schemes
Trustees’ Liability Insurance Guide
Trustees, committee members and governing bodies of community schemes and similar organisations. The relevant route, premium, limits and acceptance are confirmed during quotation and remain subject to underwriting.
In brief: Trustees’ liability insurance may cover certain claims alleging that trustees of a sectional title scheme, homeowners’ association or similar body caused financial loss through wrongful acts in their governance role. Defence costs, settlements or judgments may be considered, subject to the insured role, limits, exclusions, underwriting and policy wording.
At a glance
A practical way to prepare for the conversation.
Governance-related wrongful-act allegations
Defence-cost exposure
Financial-loss claims
Entity and trustee role distinctions
What it can include
Possible features to discuss. Availability and scope depend on the selected policy.
- Selected protection connected to governance-related wrongful-act allegations
- Selected protection connected to defence-cost exposure
- Selected protection connected to financial-loss claims
- Selected protection connected to entity and trustee role distinctions
Limitations to check
Important conditions should be explained near the benefit—not hidden in the fine print.
- The schedule and wording determine the insured events, limits, definitions and exclusions.
- Accurate disclosure, risk controls and prompt notification can be material.
- Premium, terms and acceptance remain subject to provider underwriting.
- Related risks can sit under a separate policy, section or extension.
Before you request a quote
Useful information to have ready.
Start with high-level facts. Do not submit sensitive identity, financial or claim evidence through an initial web enquiry.
- Entity structure and governing documents
- Trustee roles and activities
- Financial position and prior matters
- Limits, excess and existing cover
Compare carefully
Questions that reveal the substance behind a quote.
A useful comparison does more than compare premiums. Put the relevant limits, excesses, key exclusions, claims conditions and service steps side by side before accepting a policy.
Cost at claim time
Which standard or additional excesses could apply, and are they manageable?
Conditions
Which disclosures, valuations, security steps or maintenance duties must be met?
Claims process
Who must be notified, how quickly, and what evidence could be needed?
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Common business insurance · community schemes questions
Browse the full FAQWhat is trustees’ liability insurance?
Trustees’ liability insurance may cover certain claims alleging that trustees of a sectional title scheme, homeowners’ association or similar body caused financial loss through wrongful acts in their governance role. Defence costs, settlements or judgments may be considered, subject to the insured role, limits, exclusions, underwriting and policy wording.
Who generally needs trustees’ liability insurance?
Trustees, committee members and governing bodies of community schemes and similar organisations.
What can it typically include?
Depending on the policy, it can include selected protection connected to governance-related wrongful-act allegations, defence-cost exposure, financial-loss claims. The schedule, limits and exclusions determine the actual cover.
What is commonly excluded or limited?
The policy can restrict unreported changes, known circumstances, deliberate acts, wear or deterioration, contractual assumptions, exclusions specific to the activity and losses outside the stated cover. Review the issued wording carefully.
How is the premium usually assessed?
A provider can assess the nature of the exposure, values, activities, controls, location, contracts, claims history, limits, excess and supporting information. The premium is not guaranteed until a quotation is issued.
What information helps Best Care prepare a quote?
A useful starting pack includes entity structure and governing documents, trustee roles and activities, financial position and prior matters and the requested limits or excess. Further information may be required before a provider considers the risk.
How do claims usually work?
Notify Best Care and the relevant insurer or authorised claims route promptly, preserve records, avoid admissions and follow the policy’s incident-specific instructions. The insurer or authorised claims administrator assesses the claim under the wording.
Educational information only. It is not personal financial advice and is subject to policy wording. Best Care’s exact legal status, authorisation and product appointments must be confirmed before publication.
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