Strata Insurance Solutions

What strata insurance typically covers

• Building and common property: Structural elements, shared walls, foyers, lifts, garages and other communal areas specified in your strata insurance policy.
• Fixtures and permanent fittings: Items such as built-in cupboards, shared hot water systems, intercoms and common air-conditioning units.
• Public liability: Cover for injury or property damage suffered by third parties in common areas, subject to the policy terms.
• Catastrophe and incident damage: Protection for events such as fire, storm, escape of water or vandalism, where included in the strata insurance coverage.

Choosing the right strata insurance policy

Different buildings, locations and ownership structures call for different strata insurance solutions.

When comparing strata insurance Australia-wide, look at more than the premium. Assess building sum insured, voluntary excess options, liability limits and special risks such as flood, short-term letting or commercial lots. Consider how claim support is handled and whether the insurer understands local strata insurance regulations.

If your committee needs guidance, you can learn more about our approach on the about page before submitting an enquiry so we can refer you to a licensed strata insurance broker for tailored quotes for your property.

Strata insurance requirements by state in Australia

Each state and territory sets its own strata insurance requirements, including minimum levels of building and liability cover.

• Some jurisdictions require full replacement value cover for buildings and common property.
• Public liability cover is commonly mandatory for common areas used by residents and visitors.
• Timeframes for arranging valuations, renewals and disclosure obligations differ between states.

Understanding these rules helps your committee stay compliant while managing strata insurance cost pressures. You can read more state-by-state guidance in our practical resources on strata insurance regulations. Strata insurance regulations and product information are subject to change, so please confirm the latest requirements with your adviser or the relevant regulator before relying on this content.

How to compare strata insurance providers

1. Identify what your scheme needs covered, including buildings, facilities and any special risks.
2. Request strata insurance quotes that use the same sums insured, excesses and benefits for a fair comparison.
3. Review policy wordings carefully, noting exclusions, claim conditions and support services.

Managing strata insurance claims effectively

A structured approach can reduce stress and delays when damage occurs.

• Notify your strata insurance provider promptly and record incident details, photos and witness information.
• Clarify whether the claim sits with strata insurance or individual contents or landlord cover.
• Keep owners updated on repair timelines, access requirements and any excess contributions.

Our practical guides on how to file a strata insurance claim outline typical timeframes, documents to prepare and ways committees can streamline decision-making.

Estimating strata insurance cost and setting budgets

Premiums are influenced by building value, construction type, location, claims history and cover options.

1. Obtain an up-to-date building valuation to support an appropriate sum insured.
2. Use planning tools or a strata insurance calculator to model different cover and excess combinations.
3. Incorporate realistic premium projections into your long-term maintenance and sinking fund plans.

Staying informed about strata insurance changes

Strata insurance regulations and market conditions evolve over time, affecting cover availability and premiums.

Regularly reviewing updates helps committees anticipate changes such as new safety requirements, catastrophe risk assessments or adjustments to minimum cover levels. Keeping informed also supports transparent communication with owners about why strata insurance cost may move from year to year.

Visit our news and updates and in-depth strata insurance articles to stay across regulatory developments, emerging risks and practical responses for your scheme.