Protecting shared property and residents
Owning or managing a property within an owners corporation or strata scheme comes with unique responsibilities. Shared facilities, common property, and multiple owners create exposure to risks that individual owners may not anticipate. Owners Corporation Insurance provides comprehensive cover for buildings, common areas, and liability, helping ensure that both the property and its residents are protected.
Who we can help includes:
Owners Corporations | Strata Committees | Apartment Complexes | Townhouse Developments | Community Title Schemes
Common Risks for Owners Corporations
Damage to Buildings or Common Property
Fire, storms, vandalism, accidental damage, or wear and tear can affect shared facilities such as lobbies, pools, gardens, and structural elements, leading to costly repairs for the corporation.
Injury Claims
Accidents involving residents, visitors, employees, contractors, or volunteers in common areas or during maintenance and community activities can result in personal injury claims and legal action.
Mismanagement by Committee or Managers
Errors in decision-making, breaches of duty, or insufficient oversight by committee members or strata managers can create financial or legal liabilities for the corporation.
Theft, Fraud or Misappropriation of Funds
The corporation may face financial loss if employees, contractors, or committee members misuse funds, commit fraud, or misappropriate money intended for maintenance and operations.
Legal Disputes or Compliance Breaches
Conflicts between owners, regulatory breaches, or failure to comply with strata laws can result in disputes, fines, or litigation impacting the corporation’s finances and reputation.
Insurance Considerations for Owners Corporations
Building & Property Insurance
Covers damage to the physical structure of the building and shared spaces from damage caused by fire, storm, vandalism, or accidental events.
Office Bearers Insurance
Specifically protects elected committee members or office bearers from personal liability for decisions made in their official capacity, including claims of mismanagement or breach of duty.
Public Liability Insurance
Covers claims from residents, visitors, contractors, or volunteers who are injured or whose property is damaged while on common property.
Voluntary Workers Insurance
Covers volunteers who work on behalf of the owners corporation in case of injury during activities or maintenance tasks.
Get in touch
Talk to our specialist brokers today to arrange comprehensive insurance for your owners corporation and protect your property and residents.
For more information or to arrange cover, please contact us or simply fill out the Owners Corporation Insurance quote form below and one of our insurance brokers will get in touch in one business day.
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