Strata Insurance In Australia For Owners & Committees
Strata insurance in Australia addresses risks to shared buildings and common property, including fire, storm damage and public liability. For owners, committees and strata managers, understanding cover, rising premiums and state-based obligations helps with planning for the scheme.
Explore our coverage guides, calculators and news ... or connect with a strata insurance broker from our Australia-wide referral partner network who can discuss your needs and compare available options.
Building and Common Property
Fixtures and Fittings
Public Liability
Fire and Storm Risks
Valuations and Sums Insured
Claims and Renewal Planning
Comparison results are from participating brokers within our referral network and may not represent all providers in the market. We may receive a referral fee at no cost to you. We do not provide financial advice or credit assistance directly.
Strata insurance Australia: coverage, costs and obligations
Strata insurance in Australia is designed to protect the building structure and shared areas, as well as provide liability cover for the owners corporation. Understanding what a strata insurance policy does and does not cover helps committees, landlords and owner-occupiers make informed, practical decisions.
Use this site to explore strata insurance coverage, understand options available from different strata insurance providers and learn how strata insurance regulations vary across states and territories. When you are ready, you can request strata insurance quotes from participating brokers, who can consider the risks, size and budget of your particular scheme.
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.
"The broker was fantastic and very helpful. He made the whole process very simple and explained everything in detail with very good suggestions. Will recommend him and look forward to future dealings with him. Thank You"
These are genuine reviews from customers who have used our broker referral service.
We work with licensed finance and insurance professionals across Australia and continually monitor the quality of our network, however individual experiences and outcomes may vary
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.
Strata Cover Australia Weekly News
This week: a landmark court penalty underscores insurers duty of good faith and the importance of fast, clear claims handling; the Commonwealth keeps current disaster recovery funding settings, supporting resilience and post‑disaster rebuilds; industry seeks to exempt contents‑only insurance from the deferred sales model four‑day pause to close strata cover gaps; and rents soften as affordability bites, leaving less room to absorb rising building and insurance costs. Practical notes for committees: document claims, prioritise mitigation, clarify what strata insurance covers versus contents, and compare policies to maintain comprehensive, cost‑effective protection.
Estimate your strata insurance needs with our Strata Insurance Calculator. Calculate the right levels of cover to protect your building investment and secure your financial livelihood.
Smooth claims handling and realistic budgets help committees manage strata insurance effectively. With clear processes and the right tools, committees can respond quickly to incidents, plan for future premium changes and keep owners informed about their strata insurance benefits.
Manage claims, costs and ongoing responsibilities
Use these resources to strengthen how your scheme handles strata insurance claims, budgeting and communication with owners.
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.
Obtain an up-to-date building valuation to support an appropriate sum insured.
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.
Filled with over 50 creative ideas for earning extra money online and offline, this book has something for everyone. From renting out a spare room on Airbnb to offering your services as a personal shopper or tutor, you'll find a wide variety of side hustle ideas to choose from. In addition to the ideas, you'll also find valuable tips for success to help you turn your side hustle into a profitable and rewarding venture. So don't wait any longer, download your free copy of "The Great Australian Side Hustle" now and start your journey towards financial freedom today!
Urbanise’s latest market communication has again highlighted the growing importance of digital systems in strata and facilities management. While the update is not an insurance announcement, it is relevant to owners corporations, body corporates and strata committees because insurers increasingly want clear, current and usable information about the buildings they are being asked to cover. - read more
The latest phase of New South Wales strata reform has brought strata insurance disclosure back into practical focus, moving the issue from policy debate to renewal-season reality for owners corporations. The changes are designed to make it clearer when a strata managing agent, broker, insurer or related party receives a commission, fee or other financial benefit connected with arranging insurance. - read more
The latest affordability push from Australia’s insurance industry has put state-based insurance taxes back in the spotlight, with renewed attention on how levies and duties can add to the cost of cover before a building’s individual risk profile is even assessed. For strata communities, that debate matters because premiums are usually paid collectively, then passed through to owners via levies. - read more
Fresh attention on Australia's construction cost environment is a useful reminder for strata communities that insurance adequacy is not just about the premium charged at renewal. For owners corporations and body corporates, the more important question is whether the insured value of the building would still be enough to rebuild, reinstate common property and meet associated professional costs after a major loss. - read more
Strata insurance can be confusing because different parts of a property may be the responsibility of the owners corporation, individual lot owners, landlords or tenants. This guide explains the usual boundaries and where personal cover may still be needed. - read more
When it comes to strata insurance, making a claim can feel daunting if you're not familiar with the process. A vital first step is understanding what constitutes a claimable event. Typically, these are events that lead to damage or loss in the common areas of a property, such as fire, storm damage, or vandalism. However, each policy can vary, so it’s important to check the specifics of what your coverage includes. - read more
Strata insurance costs in Australia are shaped by the building, location, claims history, cover choices, excesses, legal requirements and insurer risk assessment. Understanding these factors can help owners corporations and strata committees review premiums more confidently. - read more
Strata insurance can protect shared buildings, common property and liability exposures, but the details of a policy matter. This guide explains common strata insurance coverage areas, exclusions, excesses, policy limits, sub-limits and optional covers that owners corporations, strata committees and strata managers should review before relying on a policy. - read more
Knowledgebase
Exclusion: Specific conditions or circumstances for which the insurance policy does not provide coverage.
This week: a landmark court penalty underscores insurers duty of good faith and the importance of fast, clear claims handling; the Commonwealth keeps current disaster recovery funding settings, supporting resilience and post‑disaster rebuilds; industry seeks to exempt contents‑only insurance from the deferred sales model four‑day pause to close strata cover gaps; and rents soften as affordability bites, leaving less room to absorb rising building and insurance costs. Practical notes for committees: document claims, prioritise mitigation, clarify what strata insurance covers versus contents, and compare policies to maintain comprehensive, cost‑effective protection.
