Strata Title Insurance

Managing a strata property comes with unique challenges, from maintaining common areas to protecting against unforeseen risks like property damage, liability claims, or legal disputes. Without the right cover, unexpected costs can place a financial strain on lot owners and body corporates.

At Coverforce, we specialise in securing tailored strata insurance solutions designed to protect residential and commercial strata properties. Whether you're part of a body corporate, an owners’ corporation, or a strata management firm, we help safeguard your property and financial interests with competitive, industry-specific cover.

What does Strata Insurance cover?

Strata Title Insurance, also known as body corporate insurance, provides essential protection for residential properties managed under strata title legislation or a body corporate entity.

This type of policy typically covers damage to the building as well as shared common property, such as pathways, lifts, fences, and car parks.

Strata insurance is usually managed by an owners’ corporation or body corporate and generally includes cover for:

• Buildings, including common contents and common property such as lifts, pools, car parks, gardens, wiring, balconies, walls, ceilings etc.
• Public Liability (protection ranges from $5million to $20million for injuries occuring on common property)
• Fidelity Guarantee to safeguard against fraudulent misappropriation of funds
• Officer Bearers’ Liability - covers committee members against legal claims related to their duties
• Personal Accident - provides coverage for voluntary workers assisting with starat responsibilities
• Workers Compensation in ACT, WA, TAS and NT

A body corporate consists of all registered owners within a strata building, such as individual apartment owners.

Do I need Strata Title Insurance?

You should consider getting Strata Title Insurance if:

• You own a property within an apartment block
• You own a townhouse, villa, duplex, factory, warehouse or storage unit
• You own a retail shop or office

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Important Tips

• Each state and territory have different legislative requirements in regards to Strata Title Insurance. Speak to your strata title insurance broker for the conditions of your state.
• Your body corporate will usually arrange Strata Title Insurance on your behalf, however take the time to understand your specific coverage and requirements.
• Although Strata Insurance includes common contents, make sure you also have your own contents cover for your belongings and for the elements Strata Insurance doesn’t cover. Make sure you speak to your broker about what is and isn’t included in your policy.