This article discusses small WA strata insurance providers and confirms there are options beyond just a few major agencies.
Question: Is strata insurance for small strata schemes in WA only available from a hand full of suppliers?
I’ve been told by an insurance broker that unless it is a high rise multi million dollar property, insurance for small strata schemes in Australia are only available from Longitude, QUS, Strata Community and CHU.
Is this true? Otherwise, what other insurers will provide cover to a small complex of 6 2×1 single storey units in WA?
Answer: There are other direct insurers in the market who will provide quotations and insure smaller strata schemes.
Strata specialists insurance underwriting agencies, include those listed above, along with Flex Insurance, AXIS Underwriting and Strata Unit Underwriting, are among the mix. There are other insurance underwriting agencies that have strata insurance products, but they specialise in specific areas only.
There are other direct insurers in the market who will provide quotations and insure smaller strata schemes.
This post appears in Strata News #508.
Leonie Milonas PSC Property Lync Insurance Brokers E: leonie@lyncinsure.com.au P: 1300 127 503