Strata Property Insurance
From small duplexes to large scale office, commercial and residential towers and industrial estates, we know what size fits which insurer. We know the strengths and weaknesses of each insurers policies and what protections are in place for the property unit owners.
What is Strata Insurance?
Most Strata Managers may only conduct strata insurance with 2 or 3 strata insurers because a majority of insurers will only offer their strata insurances to licensed insurance brokers so there is never true representation of the variety of insurers available.
With this in mind body corporate committees have a great deal of responsibility to those they represent within the property so it is imperative that they make well informed and researched decisions about which insurer they are entrusting their Strata insurance to
Why Ian Jones Insurance?
We like our experienced strata account brokers to offer to address the committee members at the relevant body corporate meeting to explain why we have chosen a particular insurer over others and what each insurer has offered. We won’t just bring in a renewal quote – we will bring ALL insurers terms and lay them out in a transparent and comprehensive manner and answer any questions the committee has.
What kind of strata insurance options do I have?
From small duplexes to large scale office, commercial and residential towers and industrial estates, we know what size fits which insurer.
- Residential Strata – regardless of occupancy – owner occupied – tenanted – holiday usage
- Commercial Strata – offices, retail space, car parks, shopping complexes
- Industrial Strata – including high occupational risk, manufacturing and other.
- Mixed Strata – any mix of multiple occupancies
- Neighbourhood Associations, DP’s
How do I get it?
We have a stable of insurers and underwriting agencies with the right capabilities to take on strata risks and we are also happy to work in conjunction with the Strata Manager to ensure a truly professional approach is adhered to and that any claims are acted on quickly and the claim process is monitored by our claims services team.
What our clients say
Personal & Professional. Put us to the test!
We are confident we can find the right policy at the right premium for you and your business – no matter what it is.
Frequently Asked Questions
Strata insurance is a specific insurance designed for buildings and property where multiple parties own space or units within that building and the building ownership has been set up under a strata title with a governing committee known as a body corporate.
Those who may need strata insurance are properties who’s title has been established under a strata title, and may include strata, stratum, neighborhood or community associations.
Strata insurance cover can be taken for residential, commercial, retail and industrial buildings that are under a strata title.
The cost of Strata insurance is generally included within the body corporate fees charged to each of the strata unit owners.
Strata Insurance will cover the entire property however individual unit owners should insure any property that may not be included within the strata insurance such as furniture and fixtures and fitting not included within the strata registration.
Public Liability insurance should be taken out by unit owners within a strata property as the owner may incur a claim from a third party due to an incident occurring within the parameters of that unit.
A unit owned within a strata title property does not need to insure the unit as it is covered under the strata insurance taken out usually by the body corporate. Unit owners should, however insure any fixtures, fittings or contents that are not covered under the strata insurance as well as public liability insurance for the unit itself.