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RESIDENTIAL
STRATA INSURANCE
Residential strata insurance primarily provides cover for damage to buildings defined by the applicable strata legislation in your state. Generally, permanent fixtures including but not limited to kitchen & bathroom cabinetry are covered by strata insurance subject to the policy terms, conditions & exclusions.
what cover can we source for
| What Cover Can We Source For | What Does It Cover |
|---|---|
| Building Insurance | Building as defined by the relevant Strata Legislation is inclusive of permanent fixtures, including but not limited to kitchen and bathroom cabinetry. It does not cover the occupiers' contents or temporary flooring such as carpet, blinds, and curtains. |
| Public Liability Insurance | Amounts the strata becomes legally liable (including defence costs) for personal injury or property damage. |
| Loss of Rent and Temporary Accommodation | Loss of rent (Landlords) or temporary accommodation (Owner Occupier) following damage to the building that makes the property uninhabitable. |
| Common Contents | Items not deemed building, including but not limited to pool equipment, gym equipment, furniture, artwork, carpets and curtains, etc, owned by the strata building. |
| Lot Owners Fixtures and Fittings | Designed to cover instances where lot owners replace existing or install additional fixtures and fittings in their lot/unit. The cost of these improvements may not be included when arriving at the building replacement cost. The cover allows for extra re-build costs in addition to the building sum insured if a lot owner has upgraded their property. |
| Fidelity | Embezzlement, theft misappropriation, conversion or fraud relating to the Strata funds and assets such as your sinking fund. |
| Voluntary Workers | Payments for specific injuries sustained by a person who works on your property in a voluntary capacity. |
| Government Audit | Costs of professional fees (such as accountants) for the purposes of complying with a government audit. |
| Legal Defence Expenses | Legal defence costs for claims made against the Strata. |
| Appeal Expenses | Costs incurred in appealing against any improvement, prohibition notice or determination by any court or tribunal made under any occupational health and safety or similar legislation. |
Optional Covers
| What Cover Can We Source For You | What Does It Cover |
|---|---|
| Flood | The covering of normally dry land with water released or has escaped from the normal confines of any watercourse, river, lake, creek, reservoir, or canal. The flood exclusion can often be mistaken for other water damage claims (which are not excluded), including build-up of water from severe downpours, burst pipes, blocked gutters, etc. |
| Office Bearers Liability | Office Bearers Liability Insurance is specifically designed to protect Committee or Office Bearers in strata buildings from legal claims that may arise due to actions taken while performing their official duties. This insurance coverage plays a vital role in safeguarding the personal liability of individuals serving in these positions. |
| Catastrophe | It provides additional cover on your sum insured if your property is damaged in a catastrophe (state of emergency) event. Cover is offered because in catastrophe events, re-build costs increase due to higher demand, which increases the cost of labour and building materials. Cover only applicable if the building sum insured is exhausted in a claim. |
| Machinery Breakdown | Breakdown of Machinery including (but not limited) pumps (including pool pumps), electric garage doors, lift/elevators, air-conditioners other machinery or electrical. |
Ongoing Services
Certificates of Currency
Occasionally, a unit owner may request a Certificate of Currency for your strata insurance policy, which we are to assist on your behalf.
Policy Advice
When it comes to insurance advice, your Body Corporate Manager is unable to assist you. All our advisors are authorised insurance brokers and can provide accurate advice on your current policy. Also we can confirm any information with your insurer on your behalf directly.
Policy Amendments
For all policy amendments contact us directly to facilitate on your behalf and make the appropriate changes with your body corporate insurance company.
Get a fast Strata Insurance quote
We have access to a wide range of coverage options to safeguard your strata community against various risks, including property damage, liability claims, loss of rental income, severe weather events and more. Our policies offer comprehensive protection, ensuring piece of mind.
Our partner insurers
We collaborate with trusted insurance partners to provide you with a wide range of options.
Our reputable insurers have a proven track record and offer reliable coverage for your strata insurance needs.
