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Strata Title Insurance
Strata Title Insurance provides cover for residential buildings (home units, villas or town houses) which are registered under strata or unit title legislation. It covers loss or damage to the building itself and common property, such as pathways, walls and fences, and common contents, such as carpets on stairwells.
They can be residential, commercial or retail strata properties.
The owners corporation (or the body corporate) of a strata scheme in NSW, for example, is made up of the registered owners of all the lots in the plan.
Strata Title Insurance policies will generally cover you for:
- Buildings, including common contents and common property
- Liability (ranges from $5,000,000 to $20,000,000)
- Fidelity Guarantee
- Office Bearers' Liability
- Personal Accident
- Workers Compensation in NSW, WA, TAS and NT
Who needs Strata Title Insurance?
You should consider arranging Strata Title insurance if;
- You own a portion of a large apartment block
- You own a Townhouse, villa, duplex, factories, warehouse or storage units
- You own a retail shop or office
Important Tips
Each state and territory has different legislative requirements that deal with insurance for strata title properties. You should always check that your insurance meets those legislative requirements. Usually your Body Corporate will arrange this insurance on your behalf.
More Information
To obtain a quotation or further information on Strata Title Insurance you can contact one of our experienced insurance brokers on 1300 503 503.
Alternatively, click here to complete a Strata TItle Insurance quote request online.