Strata Insurance

Comprehensive protection for your property and owners

Owning a property in a shared building, such as a unit, townhouse, or apartment, comes with unique risks and responsibilities. Damage to common areas or shared facilities can quickly create financial burdens for all property owners. In a strata-managed setting, it’s essential to ensure these shared spaces are properly protected.

Strata Insurance provides coverage for both the building and shared areas, as well as liability protection for the owners corporation and committee members. It helps ensure that repairs, legal costs, and unexpected events are managed effectively without placing financial strain on owners.

What is Strata Insurance?

Strata insurance is designed to protect buildings that are under shared ownership, such as townhouses, units, or apartments and is compulsory in every state. It typically covers common areas like hallways, gardens, roofs, and shared facilities. The insurance provides financial protection against damage, theft, or liability, ensuring that repairs and maintenance costs for the building's shared spaces are covered.

A Strata Insurance policy typically covers you for:

• Buildings, including common contents and common property such as lifts, pools, car parks, gardens, wiring, balconies, walls, ceilings etc.
• Liability (ranges from $5million to $50million) in the event that people are injured on common property
• Fidelity Guarantee
• Officer Bearers’ Liability
• Personal Accident
• Workers Compensation in ACT, WA, TAS and NT

Who is it suitable for?

Owners corporations | Strata managers | Residential complexes | Commercial strata schemes | Mixed-use strata developments | Committee members