- What is strata insurance?
- What does my body corporate insurance cover?
- What other insurances do I need?
This FactSheet is not printable, but rather full of the latest information in the form of dynamic links and/or presentations about Strata Insurance. New information and links are added added regularly. Be sure to check back to be kept up-to-date.
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Tyrone Shandiman, Strata Insurance Solutions
The short answer is no. It is a common misconception that unit owners only need a strata insurance policy to cover their insurance needs. So, what are you covered for?
Check your State’s tab for articles and information about Strata Insurance
- SCI Autumn Forums: Demystifying Claims – Practical Solutions to Reducing Risk May 2018 - The positioning of the 2018 Autumn Forums focused on ‘Demystifying Claims’. It was about giving Strata Managers practical solutions to
- Understanding Office Bearers Liability Insurance Mar 2018 - Office Bearers Liability Insurance provides cover for the Body Corporate’s Office Bearers should they become legally liable to pay compensation
- Check Your Building Sum Insured Jan 2018 - What building sum insured do you require? As part of appropriate due diligence, Bodies Corporate should take the time to
- Strata Insurance Ratings for 2018 Jan 2018 - Once per year, when a strata schemes insurance comes up for renewal, the owners must appoint someone to put the
- Water Damage Insurance Claims in Strata Properties Jan 2018 - We have now started to see insurers paying specific attention to buildings with a history of water damage insurance claims.
- Insurance costs rise on presence of cladding Dec 2017 - The presence of composite aluminium cladding is having a financial impact on strata owners as they renegotiate insurance policies.
- Is your rental property income sufficiently protected? Dec 2017 - Many strata rental property owners have expectations that Strata Insurance will insure them for events occurring inside their apartment –
- Navigating Insurance Dispute Resolution Nov 2017 - The first and most important thing to do is to keep calm and clearly present your facts and arguments. Always
- Managing the Cladding Crisis: aluminium composite panel (ACP) Sep 2017 - In the aftermath of the disastrous Grenfell Tower fire in London and the Lacrosse building fire in Melbourne, questions are
- 3 Key Challenges Impacting Strata Insurance. How Can You Tackle Them? Sep 2017 - We address some key challenges affecting properties that can also impact the Strata Insurance - asbestos, non-compliant cladding and property
Whitbread Insurance Brokers
May 2016: Make sure all contents kept in your storage cage are covered. We have clarified some common myths to help ensure you have the right insurance protection for your valuables.
Tyrone Shandiman, Strata Insurance Solutions
Mar 2016: The short answer is no. It is a common misconception that unit owners only need a strata insurance policy to cover their insurance needs.
Mar 2016: It is accepted by all right-thinking owners that the payment of insurance commissions to professional managers does not cost unit owners more.
Tyrone Shandiman, Strata Insurance Specialist
Nov 2015: Providing unit owners with insight into how concrete cancer is handled from an insurance perspective and a warning to bodies corporate not to bury their heads in the sand.
Melanie Fama, Whitbread Insurance Brokers
Oct 2015: Legal Protection Insurance in Australia: Can a body corporate use the provided Legal protection in their policy to challenge their Insurance’s point of view in Court?
Whitbread Insurance Brokers
Oct 2015: Living in what insurers call a “strata title unit”, Contents Insurance for Strata Properties is still a necessity in order to to protect yourself from loss and / or damage to your possessions.
Lia De Sousa, Whitbread Insurance Brokers
Oct 2015: Office Bearers Insurance is an important cover designed to provide protection to the Owners Corporation committee members against losses arising from alleged wrongful acts committed in the course of carrying out their duties as a committee.
Renee Cassidy, Whitbread Insurance Brokers
Oct 2015: When it comes to letters of demand, take it from us – no matter how far-fetched the claim seems, whether you believe it happened or not, never ignore it!
Whitbread Insurance Brokers
May 2014: Even though the ‘tradie’ you engage to carry out works on behalf of the Owners Corporation may turn up with the right tools and skills for the job, your responsibility is to check they have the right insurance cover.
- Strata Insurance Questions: Garages Used to Store Unknown Items Nov 2016 - Question: 2 owners are allowing their garages to be used for storage and collection of unknown items for a friend's
- Q&A Insuring Properties that are Not Compliant with Building Codes Mar 2016 - We were recently contacted by a Strata Professional with the following question about a non compliant building. Tyrone Shandiman, Strata
Sep 2015: Strata insurance FAQs – We recently received a question from one of our subscribers confused about who to lodge an insurance claim through for damage caused by a burst water pipe.
Strata Community Australia
Jun 2014: The implications of prohibiting strata managers from receiving insurance commissions would be that owners would be worse off.
- NSW: Fire and Emergency Services Levy Deferred Indefinitely Jun 2017 - On Tuesday 30th of May, the NSW Government announced the indefinite deferral of the introduction of the Fire & Emergency
- NSW Emergency Services Levy change … a fairer system for strata owners Apr 2017 - On 29 March 2017, the NSW Government passed the new Fire and Emergency Services Levy Bill 2017. This long overdue
- Strata Law Reform in NSW: Insurance Dec 2016 - It is vital that Strata Managers comply with the changes affecting Strata Insurance. To assist you in understanding your obligations
- Does your NSW strata building need a valuation for insurance purposes? PODCAST Oct 2016 - When it comes to NSW strata insurance requirements, what should you be doing to ensure you are meeting your legal
Allison Benson, Kerin Benson Lawyers
May 2016: I am often asked whether repairs need home owners warranty (HOW) insurance under the Home Building Act 1989 (NSW). The simple answer is yes, if the value of the work is over $20,000.
David Bannerman and Mark Pollinger, Bannermans Lawyers
Dec 2015: The Property, Stock and Business Agents Amendment (Professional Indemnity Insurance) Regulation 2012 commenced on 1 January 2013.
Paul Mulligan, Paul Mulligan Property Group
Nov 2015: With the current property market, particularly in Sydney, it is worth investing in a current insurance valuation for your building.
Be aware of your statutory obligations when selling your property or carrying out DIY building works
Pierrette Khoury, Turnbull Bowles Lawyers
Oct 2015: If you are carrying out renovation work, the Home Building Act 1989 requires that you obtain Home Warranty Insurance where the value of work exceeds $20,000.
- NSW: Q&A Does unit owners insurance cover damage from leaking pipe? Jun 2017 - Question: Is the repair of damage from a leaking tap in the wall cavity covered by the unit owners insurance?
- NSW: Q&A What does public liability insurance include? Feb 2017 - Question: What does public liability insurance include? Who pays the excess when a claim is made under public liability insurance
Department of Primary Industries, Parks, Water & Environment: Land, Property and Titles
A large array of Insurance articles with information relevant to strata title.
- QLD: Exclusive – Insurance Valuations have a ‘Use-By-Date’ Aug 2016 - Strata Insurance QLD: Generally, a new insurance valuation stating the full replacement value of your building must be obtained at
- Strata Insurance: Testing the Broader Market Jun 2016 - This article about strata insurance quotes has been supplied by Wayne Stevens (UOAQ President) Unit Owners Association of Queensland (UOAQ).
Wayne Stevens (UOAQ President), Unit Owners Association of Queensland (UOAQ)
Feb 2016: Strata insurance in QLD is compulsory, and mostly about insuring the full replacement value for the entire building. Learn about avoiding the pitfalls here.
Tyrone Shandiman, Strata Insurance Solutions
Dec 2015: An insurance rebuild valuation is a report by a qualified quantity surveyor with their professional opinion on how much the property should be insured for.
- QLD: Q&A Strata Building Insurance Payouts – How are they distributed? Apr 2018 - Question: If a strata building is completely destroyed, for example by fire, is the strata building insurance payout distributed back
- QLD: Q&A Short Term Letting Insurance in Far North Queensland Mar 2018 - Question: I am an owner occupier of one half of a duplex in FNQ. The other half is used solely
- QLD: Q&A Who pays the administration fee for processing an insurance claim? Jan 2018 - Question: Our body corporate manager has slapped me with a fee for processing the insurance claim. Shouldn’t any administration fee
- QLD: Q&A Commercial Strata Insurance – What Does it Cover? Nov 2016 - Question: We own two commercial strata investment lots in SE Qld. Our contributions notice has an amount for strata insurance.
LookUpStrata + Andrew Jakes, Ace Body Corporate Management + Jan Browne, Ian McNamee & Partners + Whitbread Insurance Brokers
Mar 2016: Some great strata questions about children on common property, commercial strata regulations concerning parking and a strata insurance question!
Outlines the effect of the provisions of the Body Corporate and Community Management Act 1997 (the BCCM Act) and the Body Corporate and Community Management (Standard Module) Regulation 2008 relating to insurance.
- VIC: Update on Cladding Laws Apr 2018 - After an Australian Federal Senate Inquiry and multiple investigations, 2018 is finally seeing some action regarding cladding laws. Regulatory changes
- Owners Corporation Insurance Requirements Victoria Nov 2017 - Insurance is important to protect owners corporations' property and, to a limited extent, lot owners' personal assets. What do you
Nicole Wilde, Tisher Liner FC Law
Oct 2015: The Owners Corporation Act 2006 (VIC) provides that an Owners Corporation must take out reinstatement and replacement insurance for all buildings on the common property.
- VIC: Q&A Rising Insurance Premiums due to multiple break ins May 2018 - Question: Our complex has had multiple breakins at the same entry point. As we are facing rising insurance premiums, can
- VIC: Q&A Individual Strata Insurance for a Small Scheme Jan 2018 - Question: I have just purchased a unit and have been told by the real estate agent the body corporation was
- VIC: Q&A Running a Business in Residential Strata & the Impact on Insurance Oct 2016 - Home Business in Strata: We have an owner/occupier who runs her business from her unit. Does this affect the owners
Consumer Affairs Victoria
– your rights and responsibilities with regards to strata insurance.
- ACT: Q&A Strata Insurance Excess Greater than the Cost of the Repair May 2017 - Question: We are unable to make a claim for a water leak in our apartment from either our contents or
ACT Government: Justice and Community Safety
The owners corporation must insure all buildings in the units plan and keep them insured. In much the same way that liability for damage to an ordinary residential house is the responsibility of the owner of that house, the owners corporation is responsible for liability for damage to all buildings.
Owners Corporation Network ACT
Division 5.4 of the Unit Titles (Management) Act (starting at S99) deals with the insurance responsibilities of owners corporations.
Demonstrates the inescapable responsibility of owners corporations in respect of insurance policies and payment of excesses under the existing Act.
- SA: Q&A Is Salt Damp Covered By Insurance and Who Is Responsible? Oct 2016 - Question: Is salt damp covered by insurance and is it the responsibility of the Lot Owner or the Strata Corporation?
- SA: Q&A Claim Due to a Leaky Pipe. Who Pays the Insurance Excess? Jun 2016 - We received this question about who pays the insurance excess for a leaky pipe claim. The following responses have been
- WA: Q&A Strata Insurance for common driveway Jan 2018 - Question: Where do we stand for Strata Insurance for common driveway? Are we able to separately insure the common driveway,
- WA: Q&A Building insurance for strata units. What are the options? Oct 2017 - Question: When it comes to building insurance for strata units, what is the difference between an insurance underwriter and an
- WA: Q&A We can’t agree on a strata insurance company Oct 2017 - Question: We can't agree on a strata insurance company. If we don't insure the property by the due date, who
- WA: Q&A Insurance Repair Process – Can We Choose the Contractor? Sep 2017 - Question: Water ingress damaged our wooden floors. What is the strata repair process? Who chooses the contractor to carry out
- Q&A The Shared Driveway and Common Property Insurance WA Jul 2017 - Question: Who is responsible for the cost of the common property insurance for the shared driveway in our two lot
- WA: Q&A Are You Liable For Your Tenants Damaged Contents Even If You Have Landlord Insurance Cover? Feb 2017 - If your tenant doesn't have contents insurance, and their furniture is damaged due to water ingress from a heavy storm,
- WA: Q&A Car Damaged in Strata Car Park – Who is Liable? Jan 2017 - Question: I am a tenant in a strata property. A roof leak in our strata car park has caused damage
- WA: Q&A Can My Strata Levies be Increased to Cover Outstanding Levies? Dec 2016 - Is the Strata Insurance supposed to be part of the Levies budget? Can the Strata Management Company increase my levies
LookUpStrata + Richard Moxham, Whitbread Insurance Brokers & Sophie Glossop, Ace Body Corporate Management (Fremantle)
Apr 2016: Answers to some great strata questions, this time about commercial strata insurance and tenants responsibilities regarding by-laws.
LookUpStrata & Melanie Fama, Whitbread Insurance Brokers
Mar 2016: We received an enquiry from a WA Strata Investor, questioning the need and requirements for landlord insurance strata property. Are they a requirement?
Looking for Strata Insurance Industry Experts in your area? Search within our Strata Services Directory in the category Strata Insurance for the best list of contacts available.
Interested in being included in the Directory? Contact Nikki Jovicic, LookUpStrata for more information.