Residential strata insurance, also called body corporate insurance, covers common contents and property under the management of a strata title or body corporate entity.

Owners of strata units typically share the premium costs of strata insurance as part of their strata fees and liabilities. Strata insurance is mandatory and must also provide public liability covering people that may be injured on common property.

Each state and territory has different legislative requirements that deal with insurance for strata title properties. Check that your insurance meets those legislative requirements. Your Body Corporate has a duty to insure the property and make sure the policy purchased meets the minimum legislative requirements.

We provide specialist knowledge of State and Territory legislative requirements for insuring strata properties and understand that every property has different insurance requirements.

What does our Residential Strata insurance protect against?

  • Accidental Loss or Damage to the insured property
  • Earthquake
  • Explosion
  • Fire
  • Lightning
  • Malicious damage
  • Storm
  • Theft
  • Glass breakage

Building sum insured items include:

  • Outbuildings
  • Car parks
  • Tennis Courts
  • Balconies
  • Lifts
  • In-ground pools and spas

Residential Strata cover types include

Damage to Buildings & Common Contents – Cover for accidental damage or loss caused by an insured event.

Legal Liability – Indemnifies the Body Corporate as owner of the Insured Property and Common Area for sums they become legally liable; to pay for personal injury or property damage arising out of an occurrence.

Fidelity Guarantee – Protection against the fraudulent misappropriation of Body Corporate funds or tangible property.

Office Bearers Legal Liability – Protection for the Body Corporate’s office bearers should they become liable to pay compensation for any wrongful act they make while carrying out the functions of their position.

Machinery Breakdown – Protection against unforseen damage to electrical, electronic and mechanical machinery and plant equipment.

Catastrophe – Protection against the sudden escalation in rebuilding costs following the occurrence of a catastrophe.