Comprehensive protection for your property and owners
Managing a strata property involves more than looking after the building itself. Owners corporations and strata managers need to consider shared property, common areas, building maintenance, owners and visitors, as well as the financial responsibilities that come with running a strata scheme.
Strata insurance is designed specifically for these circumstances, providing cover for the building and common property against a range of insured events. Depending on the policy and scheme, cover can also extend to areas such as public liability, loss of rent and temporary accommodation. We can help you arrange appropriate cover for the property and understand the insurance requirements that apply to your strata scheme.
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 Strata Insurance suitable for?
Strata Insurance is designed for properties where ownership and responsibility for the building or common areas are shared. It can be suitable for a range of residential, commercial and mixed-use strata schemes.
Residential Strata Schemes
Apartment buildings, unit complexes and other residential properties where owners share responsibility for common property and building areas.
Commercial Strata Schemes
Commercial properties with individually owned lots and shared areas such as offices, retail spaces, car parks and building facilities.
Mixed-Use Strata Properties
Properties combining residential and commercial lots, where shared building areas and facilities need to be considered as part of the insurance arrangements.
Get in touch
Strata Insurance can help protect your building, common property and owners against a range of insured risks. The right cover can provide greater confidence that your strata scheme is prepared when something goes wrong.
For more information or to arrange cover, please contact us or simply fill out the Strata Insurance quote form below and one of our insurance brokers will get in touch in one business day.
Request a Quote
