Strata Insurance: what does it cover?
Strata Insurance (also known as body corporate insurance) is a general insurance that covers common or shared property which is managed by a strata title or body corporate entity. It covers all components and common areas including pools, carparks, gardens, lifts, wiring, balconies, walls, windows, ceilings and floors. It may cover fixed parts.
Strata Insurance will cover repairs to property damage, thefts, disaster recovery and liability cover in the case of injury. It does not cover contents or personal items.
Why use an insurance broker for Strata?
There are restrictions to policies, and a variety of terms and conditions in the market. As a specialist strata insurance broker, Honan can help you navigate the insurance choices available, and assist with complex strata queries.
Our role includes:
Strata Insurance claims
We understand how stressful the Strata Insurance claims can be, and we manage this process for you. Our in-house claims team is headed by legal experts who leverage their knowledge to your advantage, helping you get the best outcome from claims process. Get in touch to Notify us of a claim
What is Office Bearer's Liability insurance and who needs it?
It’s common for lot owners to volunteer as members on Strata Committees without knowing this personally exposes them to risk. Office Bearers can become personally liable for any wrongful acts or inaction resulting in financial loss to others while acting on behalf of a Strata Scheme. Available as part of Strata insurance, read our Office Bearers Liability insurance 101 to understand more about this type of policy how it can help you minimise personal exposure.
Strata Insurance in Australia
Across Australia, each state and territory will have varying legislative requirements around its Strata title properties. These mandatory requirements, and the risk profiles of different locations, can impact your premiums.
We have contacts across Australia to assist with your needs. For more information on Strata Insurance for you, select your state.