Strata Insurance
Strata Insurance
Strata Insurance provides protection for buildings and common property managed under a strata title or body corporate. This includes shared areas such as lifts, stairwells, roofs, gardens, garages, fencing, pools, and exterior walls. It’s mandatory in most Australian states and applies to residential apartments, townhouses, mixed-use developments, and commercial strata properties.
Strata Insurance typically covers building damage, public liability, legal expenses, machinery breakdown, and temporary accommodation following an insured event. Additional options may include fidelity guarantee, office bearer’s liability, and catastrophe cover.
At Angelic Insurance, we work with strata managers, owners’ corporations, landlords, and developers to arrange competitive strata insurance solutions that meet legal obligations and protect shared assets.
How It Works
We help your owners’ corporation or strata committee secure appropriate cover and manage the policy over time.
Review your strata property and usage
We assess your building type, age, occupancy (residential or mixed), location, construction materials, and claims history.
Determine cover and compliance needs
We ensure the policy meets legislative requirements and matches the value of the building and common property.
Compare insurer options
We approach leading strata insurers to obtain quotes based on your size, risk profile, and service expectations.
Provide insurance recommendations
We deliver general advice with tailored options helping you understand the limits, exclusions, and add-ons available.
Coordinate policy setup and documentation
We issue Certificates of Currency, ensure compliance with your state regulations, and assist with insurance disclosure notices.
Manage renewals and claims throughout the year
We remain your point of contact to support building updates, mid-term changes, common area claims, and annual policy reviews.
Why You Need It?
Strata Insurance is a legal requirement and a practical necessity to protect the financial interests of all lot owners and residents.
Covers damage to building and common property
Events such as fire, storm, flood, vandalism, or impact damage are covered protecting the shared structure and facilities.
Meets state and territory legal obligations
Strata Insurance is required under laws in all Australian jurisdictions for registered strata schemes.
Provides public liability protection
Injury or damage occurring in shared spaces (like stairwells or car parks) is covered under public liability.
Supports lot owners during major events
Cover includes temporary accommodation, loss of rent, and repair of essential facilities following an insured event.
Ensures financial certainty for owners’ corporations
A single, centralised policy avoids individual lot owner disputes and protects the collective interest of all members.
How Angelic Insurance Can Help?
We work closely with strata committees and property managers to deliver responsive, compliant, and cost-effective insurance solutions.
Compare quotes from leading strata insurers
We obtain multiple quotes from Australia’s top strata insurers and explain the pros and cons of each policy in plain language.
Support both residential and mixed-use buildings
Whether your property includes homes, offices, shops, or amenities, we help tailor cover that suits your strata environment.
Assist with claims from start to finish
We help you prepare claims, liaise with insurers, and provide advice on managing disputes or large loss scenarios.
Stay across compliance requirements
We monitor changes in legislation and insurer guidelines to ensure your policy remains valid and up-to-date.
Offer policy reviews and insurance education
We provide renewal reviews and information sessions for committees to help explain cover to lot owners clearly.
Challenges Businesses Face Without Strata Insurance
Operating a strata-managed property without proper insurance exposes all lot owners to significant financial and legal risks.
Legal non-compliance
Failure to hold adequate strata insurance may breach state legislation and expose owners’ corporations to fines or lawsuits.
Disputes among lot owners
Without a centralised policy, disagreements may arise over who pays for damage, maintenance, or third-party claims.
Out-of-pocket costs for common area damage
Fires, floods, or structural failures could result in costly repairs that owners must cover if uninsured.
Inability to secure loans or sell units
Lenders and buyers often require proof of active strata insurance a lapse could delay refinancing or property sales.
Gaps in liability protection
Claims from visitors or residents injured in common areas may not be covered leaving the committee exposed to litigation.
Case Studies: How Strata Insurance Helped Real Businesses
Case 1 – Fire in mixed-use building
A commercial tenant’s kitchen fire damaged a shared wall and triggered sprinkler activation across three floors. The strata cover provided $420,000 for structural repairs and common area clean-up.
Case 2 – Burst pipe in underground garage
A plumbing issue flooded a residential complex’s underground garage. The policy covered $85,000 in electrical repairs, drainage works, and professional cleaning.
Case 3 – Liability claim from visitor
A visitor slipped in a poorly lit stairwell. The strata committee faced a $48,000 injury claim, which was paid through the public liability section of their strata policy.
Case 4 – Committee confusion on coverage
A new strata manager inherited an underinsured building. The client’s broker assisted in reviewing and restructuring the policy, increasing the building sum insured by 22% and resolving multiple queries with owners.
Frequently Asked Questions
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