Without the right owners corporation building insurance in Sydney, lot owners of a property are at risk if the strata does not carry the correct insurance cover. In a strata building where many individual owners contribute to the collective ownership of the structure, everyone needs to manage their collective risk by purchasing strata insurance. Choosing the appropriate insurance is not just a matter of legal compliance, but it affects peace of mind, too. At Strata Insurance Solutions, we simplify the process involved in securing or updating your cover.
Problems with Owners Corp Insurance in Sydney that Strata Insurance Solutions Addresses
Why choose our service? Our capabilities enable us to solve many of the most common complaints we hear from our clients, such as:
- Excessive commissions and fees made payable on your policy. While it is an industry-standard for strata managers and insurance brokers to receive a commission paid by the insurance company, it is not a standard that we have found to work for unit owners . In some of our discussions with prospective clients and in the most extreme of cases half of the total insurance cost to the Owners Corp went to paying commission and fees. We do not do that; instead, we look to negotiate and charge the Owners Corp a clear fee for service and lessen the insurers overall premium by not collecting commission that we would otherwise be paid from the insurer. The result is lower premiums and a clear understanding of how Strata Insurance Solutions are being remunerated for the management of the insurances.
- Frustrating claims processes that result in inadequate solutions or months of lost time chasing after a claim payout. Our claim management process ensures that you always know what will happen next as you seek to repair damage.
- Difficulty in finding the right policy at renewal. When it is time for your policy to renew, we always go back to the drawing board and consult with multiple insurers to see if you still have the best overall solution.
We will tailor an insurance option that allows your committee to worry less about insurance so that other issues can receive attention instead.
The Benefits of Choosing Owners Corporation Insurance Cover in Sydney from Strata Insurance Solutions
There are other important benefits we bring to the table for our clients. Whether you are part of a residential owners corporation or a commercial strata, we can help in many ways.
- We have access to a broad range of options for providing an owners corporation with building insurance. Our partnerships extend to ten different companies providing owners corp insurance. Many of these services are not publicly available without engaging an insurance adviser. Being an Insurance Adviser in the business of providing advice and with access to all the key markets we can offer our clients a wider range of options than those that are available via a typical strata manager.
- We represent your best interests. In other words, we will ensure that you always receive the full entitlements under the policy when it comes time to make a claim or when there is a dispute concerning your cover. We are here to back you up and we understand the policy wordings in depth.
- Strata Insurance Solutions can also help reduce the financial burden on owners corporations who do not have sufficient funds to cover their annual payment. Premium funding is available to allow for payment in instalments.
Why Trust Our Team Regarding Owners Corp Insurance?
With nearly a decade of success behind us already, Strata Insurance Solutions has a clear track record of success. We’ve helped both very large and established owners corporations along with brand new developments just getting off the ground. We encourage you to contact us to learn more about why we are a good fit for your building.
This information is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Shandit Pty Ltd T/as Strata Insurance Solutions strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances. Shandit Pty Ltd T/As Strata Insurance Solutions is a Corporate Authorised Representative (No. 404246) of Insurance Advisernet Australia AFSL No 240549, ABN 15 003 886 687.