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07 5662 3592
Commercial strata insurance covers the common property, shared structures, and common area liability within a strata scheme that contains commercial, retail, industrial, or mixed-use lots. The risks are more complex than residential strata, the replacement costs are generally higher, and the consequences of getting the policy wrong are felt across every lot owner in the scheme.
At Strata Building Insurance Brokers, we understand that no two commercial schemes are the same. A retail strip, an office building, an industrial complex, and a mixed-use development all carry different exposures. We assess your scheme’s specific risk profile, go to market across our insurer panel, and come back with a recommendation that reflects what your building actually needs.
We understand the added complexity that comes with commercial, retail, industrial and mixed-use schemes.
We compare policies across multiple insurers to find cover that matches the risk, not just the budget.
Send us your details and in most cases we will have a quote back to you the same day. No waiting around, no chasing.
Our obligation runs to the owners corporation and its lot owners, not to the insurer placing the risk.
Tell us your strata plan number, state, building type, and lot details. We take it from there.
Commercial schemes require a more detailed assessment. We review the building use, occupancy mix, common property exposure, and any specific risks before approaching insurers.
You receive a clear recommendation with a plain-language breakdown of cover, exclusions, and pricing. No jargon, no pressure.
Once you give the go-ahead, we bind the policy and issue all documentation. Your scheme is covered and the paperwork is done.
Premiums vary depending on the building’s replacement value, location, number of lots, construction type, and claims history. We compare options across our insurer panel to make sure your scheme is getting competitive pricing for the level of cover it needs. Contact us for a tailored quote.
A standard residential strata insurance policy covers the building and common property for damage from insured events such as fire, storm, water damage, and malicious damage. It also includes common area public liability cover. Policy terms vary between insurers, which is why having a broker review the fine print matters.
In most states and territories, owners corporations are legally required to hold a current building insurance policy covering the full replacement value of the building. The specific requirements vary by state. We can advise on the obligations that apply to your scheme.
The owners corporation is responsible for placing and maintaining strata building insurance on behalf of all lot owners. In practice, this is often managed by the strata manager, though many schemes work directly with a broker to make sure the policy is appropriate and competitively priced.
Strata insurance covers the building and common property as a whole. Landlord insurance covers a lot owner’s individual rental unit and their liability as a landlord. They serve different purposes and one does not replace the other.
The sum insured is the maximum amount the insurer will pay to rebuild or repair the building following a total loss. If this figure is too low, the owners corporation may be left significantly out of pocket after a major claim. Getting an accurate replacement cost assessment is one of the most important things a scheme can do.
No. Strata insurance covers the building and common property only. Lot owners are responsible for insuring their own contents, fixtures installed at their own expense, and any improvements they have made to their lot. We can advise on what typically falls inside and outside the strata policy.
When a claim is lodged, the insurer assesses the damage against the policy terms and determines cover. Having a broker in your corner during a claim can make a genuine difference, as we can help you navigate the process and liaise with the insurer on your behalf.
Yes. The owners corporation can cancel a strata policy before its expiry date by giving written notice to the insurer. Most Australian strata insurers refund the unexpired portion of the premium on a pro-rata basis, though if a claim has been paid or is pending under the policy, the refund may be reduced or withheld entirely depending on the insurer’s policy wording. Whether switching mid-term makes financial sense depends on the timing, any outstanding claims, and the insurer involved. If your scheme is overpaying or your current cover has gaps, contact us and we will give you an honest assessment of your options.
Use the quote form on this page or call us directly. Have your strata plan number, state, number of lots, and building type handy and we can move quickly. We work around AGM deadlines and renewal dates so the sooner you reach out, the better.
