If loss or damage was to happen to your strata building or the shared contents of the building, you dont want to be left with the financial burden of the repairs.
From apartment complexes to office buildings, strata insurance offers financial security against a range of risks, including property damage, liability claims, and unexpected events, ensuring the ongoing safety and integrity of strata communities.
What is Strata Title Insurance?
Strata Title Insurance (also known as Body Corporate Insurance) provides protection for residential properties managed under strata title legislation or a body corporate entity. This policy typically covers damage to the building itself as well as common or shared property, such as pathways, walls, fences, lifts and carparks.
Usually managed by an owner's corporation or body corporate, Strata Title Insurance typically covers you for:
- Buildings, including common contents and common property such as lifts, pools, car parks, gardens, wiring, balconies, walls, ceilings etc.
- Liability (ranges from $5million to $20million) in the event that people are injured on common property
- Fidelity Guarantee
- Officer Bearers’ Liability
- Personal Accident
- Workers Compensation in ACT, WA, TAS and NT
Each state and territory have different legislative requirements in regards to Strata Title Insurance. Make sure you speak with an insurance broker about the conditions of your state.
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How Westminster Coverforce Can Help
Our team of experienced insurance brokers will work hard to deliver expert risk advice, unrivalled service and the placement of a tailored Strata insurance policy to protect your building.
For more information or to arrange cover, please contact our team at 08 6210 8888. Alternatively, you can simply fill out the quote form below and one of our insurance brokers will get in touch with you shortly.
