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Residential Strata

Residential Strata Insurance provides lot owners, developers and managers of strata properties with comprehensive protection specifically pertaining to living in a strata community.

Residential Strata Insurance policies cover material damage as a result of insured peril to structural fixtures including fixed plant, machinery and underground services.

Holding strata insurance is mandatory under each state’s relevant strata legislation. However, each state and territory has different legislative requirements that deal with insurance for strata title properties.

Our dedicated strata insurance brokers will always check that your insurance meets those legislative requirements. 

Below are some of the more common insurance policy features, however, the list is not exhaustive and some features may not be offered by certain insurers. Please refer to the insurer specific policy wording for inclusions, exclusions, terms and conditions. 

Covered Features

  • Residential Strata Building Replacement & Reinstatement

    Building Replacement & Reinstatement

    Provides cover for the building structure and any fixtures and fittings in Common Property areas.

  • Residential Strata Public Liability

    Public Liability

    Covers the legal liability of the Owners Corporation. This does not insure the liability of the unit owner, except where liability relates to the Owners Corporation’s property or common contents.

  • Residential Strata Common Contents

    Common Contents

    Covers appliances, equipment, furniture, fittings and works of art in any common area for which the Owners Corporation is responsible.

  • Residential Strata Personal Accident for Voluntary Workers

    Personal Accident for Voluntary Workers

    Provides compensation to any person who voluntarily works on behalf of the Owners Corporation. The volunteer worker’s name must be recorded in the books of the Owners Corporation.

  • Residential Strata Loss of Rent and/or Alternative Accommodation

    Loss of Rent and/or Alternative Accommodation

    If a unit becomes uninhabitable as a result of an insured peril, the unit owner can claim for loss of rent or alternative accommodation during the period that the premises are unfit for occupancy, based on the rental value of a unit.

  • Residential Strata Fidelity Guarantee

    Fidelity Guarantee

    Protection for the Owners Corporation against fraudulent embezzlement or fraudulent misappropriation of the Owners Corporation’s funds and tangible assets.

  • Residential Strata Office Bearers

    Office Bearers

    Protects the members of the committee where liability has arisen from an alleged or wrongful act, omission or breach of duty. Covers the liability and legal costs up to the sum insured. Fraudulent acts are not insured under this insurance policy. This is an optional cover and an additional premium will apply.

  • Residential Strata Machinery Breakdown

    Machinery Breakdown

    Provides cover for sudden or unforeseen physical destruction/damage to machinery. This is an optional cover and an extra premium will apply.

  • Residential Strata Catastrophe


    Provides an additional sum where the building is considered a total loss or partial loss due to catastrophe where a state of emergency is declared such as an earthquake, bushfire, tsunami or cyclone. NB: Coverage varies for this feature. Some insurers provide automatic catastrophe cover (e.g. 15% of building sum insured), while others will charge a premium to offer a selected percentage of the sum insured (e.g. 15% or 30%). Catastrophe cover is a specialised policy feature and should be discussed by the Owners Corporation if protection has not been purchased.

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