Strata insurance brokers
From apartment towers to industrial estates, we know the strengths and weaknesses of each insurance policy for unit owners.
Providing peace of mind in strata property insurance
For more than 35 years, we’ve helped owner corporations (also known as body corporates) compare and obtain dependable strata insurance. Whether it’s a small duplex or a large-scale office, our experienced strata insurance brokers are here to ensure it is covered properly.
We research policies from a range of trusted insurers and underwriting agencies, so you can secure comprehensive cover at a competitive price. We are also happy to work with the Strata Manager to ensure a responsive, professional approach and oversee each claim through our dedicated claims services team.
Experts in every type of strata insurance
Residential strata
Apartments, duplexes, villas and townhouses, regardless of occupancy (owner-occupied, tenanted or holiday usage)
Commercial strata
Offices, retail space, car parks, and shopping complexes.
Industrial strata
Including high occupational risk, manufacturing and other.
Mixed strata
Any combination of multiple occupancies.
Neighbourhood Associations, DP’s
Developments with shared property or facilities, including neighbourhood, precinct and community title schemes.
Clear strata insurance advice for owners’ corporations
Strata committees need a complete view of the market before choosing insurance. Some strata managers only have access to a small panel of insurers, as many policies are distributed exclusively through licensed insurance brokers. This can restrict the range of policies presented to the committee.
Our experienced strata insurance brokers compare ALL available terms, premiums, excesses, exclusions and coverage, then recommend the best option for your property.
We can also attend the strata committee meeting to present the results, explain our recommendation and answer questions. Instead of providing a single renewal quote, we clearly set out the terms received from each insurer approached, giving your committee the information it needs to make an informed decision.
What strata property insurance covers
Depending on the insurer and policy, strata insurance may cover damage to buildings and shared assets, as well as eligible liability claims arising from incidents that occur within the common property.
- Fire, storm and flood damage: Repairs or replacement following fire, storm or flood damage, where the relevant cover is included in the policy.
- Accidental damage: Sudden and unexpected damage to insured buildings, common property or eligible fixtures.
- Theft and vandalism: Loss or damage caused by theft, attempted theft, malicious acts or vandalism.
- Building and common property: Repairs or replacement of structural elements, shared areas and eligible fixed fixtures.
- Rebuilding costs: Professional fees, demolition and debris removal required after an insured loss.
- Legal liability: Claims involving injury to another person or damage to their property for which the owners corporation or body corporate is legally responsible.
- Temporary accommodation: Reasonable accommodation costs for eligible owner-occupiers displaced by insured damage.
- Office bearers’ liability: Certain claims against committee members arising from errors, omissions or wrongful acts performed in their official roles.
- Resilience improvements: Approved upgrades completed during insured repairs to help the property better withstand similar damage in the future, where included by the insurer.
Strata property insurance FAQs
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 an owners’ corporation.
The policy is usually arranged by the owners corporation or body corporate and covers the building structure, common property and shared assets like carparks, driveways, stairways, lifts, lobbies, pools, and gardens.
Strata insurance cover can be taken for residential, commercial, retail and industrial buildings that are under a strata title.
Properties that may require strata insurance include:
- Apartments and units
- Townhouses, villas and duplexes within a strata scheme
- Residential complexes with shared driveways, gardens, lifts or pools
- Commercial, retail and industrial strata properties
- Mixed-use developments
- Some community and neighbourhood title schemes
Optional extras for strata insurance cover depend on the insurer, property, location and policy wording.
Common add-ons include:
- Fidelity guarantee: Protects the owners’ corporation or body corporate funds against fraud or dishonest misappropriation.
- Office bearers’ liability: Covers certain legal liabilities arising from wrongful acts, errors or omissions by committee members and office holders.
- Floating floors: Covers the repair or replacement of eligible floating floors damaged by an insured event.
- Machinery breakdown: Covers sudden breakdowns affecting insured electrical, electronic or mechanical equipment, such as lifts, pumps or air-conditioning systems.
- Catastrophe insurance: Provides additional cover for unexpected increases in rebuilding costs following a declared catastrophe.
- Lot owners’ fixtures and improvements: Covers eligible fixtures or structural improvements permanently installed by individual lot owners.
- Government audit costs and legal expenses: Helps cover specified professional fees, audit costs, appeals and legal defence expenses.
- Loss of Lot Market Value: Covers an eligible reduction in a lot’s market value when rebuilding is restricted following a major insured loss.
- Workers’ compensation: May be available for eligible strata properties in Tasmania, the ACT, Northern Territory and Western Australia.
Some of these benefits may be included as standard by one insurer and offered as an optional extension by another. Always compare the limits, exclusions, excesses and conditions in the Product Disclosure Statement before selecting cover.
Yes. In all Australian states and territories, strata insurance is a legal requirement for properties registered under a strata, community title or similar shared-property scheme.
No. Although strata insurance tends to cover the building structure and common property, it does not cover personal property.
Therefore, individual unit owners should insure any property that may not be included within the strata policy, such as furniture, fixtures and fittings not included within the strata registration.
These items may require an additional policy, such as contents insurance.
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 be insured as it is covered under the strata insurance taken out, usually by the owners’ corporation.
Unit owners should, however, ensure that any fixtures, fittings or contents that are not covered under the strata insurance, as well as public liability insurance for the unit itself.
Yes. Strata insurance usually covers the building and common property, but it does not fully protect an individual lot owner who rents out their property.
Landlord insurance may cover:
- Loss of rent
- Tenant damage or theft
- Rent default
- Landlord-owned contents, such as carpets, blinds and appliances
- Legal liability
- Certain tenancy-related legal costs
As cover can vary between policies, check the strata insurance and landlord insurance Product Disclosure Statements to identify any gaps or overlaps.
The cost of strata insurance is generally included within the owners’ corporation fees charged to each of the strata unit owners. The owners’ corporation then pays its premium and any excess on claims.