Contact Us

Phone
0401 789 720

Email
assist@covermeinsurance.com.au

Address
1205/9 Norfolk Avenue Surfers Paradise QLD 4217

Online Enquiry

* Required fields

Strata Insurance (Commercial & Residential)

Owning a strata title in Australia means you are legally required to have strata insurance. However, each state and territory has its own terms and conditions regarding the specifics of the required strata insurance.

Coverage Overview: Strata Insurance generally covers common or shared property as defined on the title of the property. This may include:

  • Lifts

  • Pools

  • Car Parks

  • Gardens

  • Ceilings and Floors

It must provide liability cover in the event someone is injured on your common property.

Commercial Strata Properties: Commercial strata properties may include:

  • Retail Shops

  • Office Buildings

  • Multi-Tenanted Industrial Complexes

Additional Tip: If a lot owner is running a business from a residential strata unit, it is crucial to notify your insurer. This ensures you are not required to change to a Commercial Strata Policy, potentially saving you a lot of heartache in the event of a public liability claim.

Why Choose Us?

  • Expert Guidance: Our experienced advisors understand the complexities of strata insurance and provide tailored solutions.

  • Customized Coverage: We work with you to customize your insurance policy to fit your specific needs, ensuring comprehensive protection.

  • Compliance: We help you comply with state and territory regulations, ensuring your strata insurance meets all legal requirements.

  • Ongoing Support: We offer continuous support throughout the life of your policy, from initial consultation to claims management, ensuring you are always well-protected.

Get in Touch!

Policies will vary among insurers, but typical strata insurance policies include the following:

Insured Property

Loss of or damage to insured property, which includes cover for storm damage, theft, vandalism, malicious damage, etc. This may also include common contents for which the Owners Corporation is responsible for such as furniture, appliances, fittings. 

Legal Liability 

This covers costs associated with personal injury, loss of or damage to property of third parties you become legally responsible to pay compensaiton for.

Voluntary Workers

Compensation payments made to voluntary workers who are injured because of an accident while carrying out that voluntary work on behalf of the Body Corporate.

Fidelity Guarantee

Cover for loss that is incurred because of fraudulent misappropriation of funds.

Office Bearers Liability

This relates to any legal liabilities that arise as part of an office holder’s wrong doing. Committee members are provided cover for Loss arising from a Wrongful Act which results in a claim.

Machinery Breakdown

Cover against unforeseen physical breakdown of electronic, mechanical and electrical plants including air conditioners, which require repair.

Catastrophe

Provides additional cover when there is an escalation in rebuilding costs due to a declared catastrophe such as earthquake, bushfire, tsunami or cyclone.