During contruction....the liability of thr house is belong to the developer...hence as owner u dont have to pay.

The bank will nevertheless charge you if you got loan...kust write in and reject it...it should be refunded.

For strata jmb will get the insurance on behalf and recharge to owners (can vary...) but i believe they might just get fire insurance...whereas bank will mormally get homeowners insurance will cover flood n other wildful danages...hence more expensive.