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07 5662 3592
Residential strata insurance is the building insurance policy that covers the common property, shared structures, and common area liability within a strata scheme. In most Australian states and territories, it is a legal requirement for the owners’ corporation to hold a current policy, and getting it wrong can leave every lot owner exposed.
At Strata Building Insurance Brokers, we go beyond simply finding a policy. We review your scheme’s specific needs, compare options across our insurer panel, and make sure the sum insured reflects the true replacement cost of the building. You deal with a real broker who understands strata, not a call centre running through a script.
We work exclusively in strata and building insurance, not as a side offering.
We compare policies across multiple insurers to find genuine value for your scheme.
Underinsurance is one of the biggest risks in strata. We help you get the number right.
Our obligation is to the owners corporation, not the insurer. Always.
Tell us your strata plan number, state, and building details. It takes a couple of minutes and we handle the rest.
We approach our insurer panel, review policy terms, and compare pricing to find cover that suits your scheme's specific risk profile.
We present our recommendation in plain language, with a clear breakdown of what is covered, what is excluded, and why we are suggesting it.
Once you approve, we bind the policy and send through all documentation. Your owners corporation has proper cover in place.
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. Policies can be cancelled and rewritten at any point, though short-rate cancellation fees may apply depending on the insurer. If your scheme is locked into a policy that is not performing or is overpriced, talk to us and we can review 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.
