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Bespoke Insurance Group

D-04Specialist

Stratainsurance.

Building and liability cover for owners corporations and bodies corporate.

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D-04 · Elevation

01 · The exposure

Shared buildings need cover that every owner can rely on.

Strata insurance covers the common property and building of a strata scheme, along with the owners corporation’s liabilities. State legislation sets minimum insurance requirements for most strata schemes, and committees and strata managers need confidence that the scheme’s cover is adequate and current.

02Scope

What this covercan respond to.

A general guide. What a particular policy covers depends on its wording, limits, conditions and exclusions, and on what is declared to the insurer.

  1. 01Damage to the building and common property from insured events
  2. 02Public liability of the owners corporation
  3. 03Office bearers’ liability and fidelity guarantee, where included
  4. 04Voluntary workers and machinery breakdown sections, where included
Often discussed byResidential strata schemesCommercial and mixed-use strataStrata managersOwners corporation committees

03What we look at

Where the detailmatters.

  • Current replacement value

    Regular building valuations help keep the sum insured aligned with real rebuild costs.

  • Defects and maintenance

    Known defects, such as waterproofing or cladding issues, must be disclosed and can affect terms.

04 · Before we talk

Questions yourbroker will ask.

Having these answers to hand makes the first conversation faster and the submission to insurers stronger.

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  1. How many lots, and what mix of residential and commercial use?
  2. When was the last insurance valuation?
  3. Are there known defects or ongoing building works?

05 · Questions

Frequently asked.

Does strata insurance cover my apartment contents?

Generally no. Owners and tenants insure their own contents. Strata cover is for the building and common property.

Related cover

Commonly part of programs for property & strata.

Talk stratathrough with a broker.

A short conversation is usually the fastest way to know where you stand. No obligation, and no form required if you would rather call.

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Or call 1300 513 652, answered 24/7