Strata Insurance at a glance?

What is Strata insurance?

If you own a townhouse, unit, or apartment and you’re sharing common space with others, you don’t want to be left to foot the bill if there’s damage to shared parts of the building or items.

Strata insurance protects the building and common areas or facilities, with the premiums paid for by the owners’ corporation.

“Strata insurance is complex and owners corporations and corporate bodies need trusted people to navigate them to the best outcome.” Strata Community Association, 2021 Who should consider it? Strata insurance is compulsory in every state – so if you are a lot owner in a townhouse, unit, flat, apartment or duplex, the owner’s corporation will need strata insurance.

An insurance broker can arrange strata insurance on behalf of the owners’ corporation.

For more information give us a call on 1300 887 911