Strata insurance helps protect owners corporations, body corporates, strata managers and property owners against damage to buildings, common property and liability risks across Australia.
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Strata insurance is arranged for the owners corporation or body corporate and is designed to protect the building, common property and shared assets. The right policy depends on the scheme’s location, construction, replacement value, common facilities, occupancy and claims history.
Cover may respond to insured damage affecting the building, roofs, external walls, floors, stairs, lifts, car parks, pools and other shared property.
May include shared furniture, carpets, gardening equipment, laundry appliances, BBQ areas and other contents owned by the owners corporation.
Helps address the owners corporation’s legal liability for injury or property damage arising from common areas, subject to the policy wording.
Optional cover may assist with loss of rent or temporary accommodation when a lot becomes uninhabitable following an insured event.
Optional extensions can protect committee members and the owners corporation against certain wrongful acts, fraud or misappropriation risks.
Depending on the scheme, cover may include machinery breakdown, glass, flood, catastrophe costs, debris removal and other selected extensions.
We help owners corporations and strata managers understand scheme-specific insurance risks.
We compare cover for residential, commercial and mixed-use strata properties.
We help identify key information needed to review building sums insured and common property.
Our team helps you understand policy responses and the next steps after an incident.
Practical insurance assistance for strata schemes and property owners across Australia.
Speak with ABS Insurance Brokers about strata insurance tailored to your building, common property and owners corporation responsibilities.
Strata insurance generally covers the building, common property, shared contents and the owners corporation’s liability exposures, subject to the insurer’s policy wording. Common property may include roofs, external walls, corridors, lifts, car parks, pools and shared facilities.
The owners corporation or body corporate is generally responsible for arranging the scheme’s strata insurance, with premiums paid from owners’ levies. Exact obligations vary by state or territory, so the strata manager or committee should obtain appropriate local advice.
Strata insurance generally does not cover personal belongings and contents inside an individual unit. Lot owners may need separate contents, landlord or other personal insurance for items and risks not insured by the owners corporation’s policy.
Depending on the scheme and insurer, options may include loss of rent, temporary accommodation, flood, catastrophe costs, glass, machinery breakdown, office bearers’ liability, fidelity guarantee, voluntary workers and legal expenses.
The sum insured should reflect the estimated cost to rebuild the building, including professional fees, demolition, debris removal and relevant escalation—not its market value. A professional replacement-cost assessment can help identify underinsurance risks. Policy limits, excesses, exclusions and conditions apply.
