Residential Strata Insurance
Protection for your residential strata complex and body corporate, to ensure your investment is secure and compliant.
The resource of choice for the country’s most forward-thinking insurance professionals.
The resource of choice for the country’s most forward-thinking insurance professionals.
Residential Strata Insurance
Rely on a reputable insurance broker
What is Commercial Building Insurance?
Residential strata insurance (also called body corporate insurance) is required by law for strata complexes, with the requirements differing by state across Australia. As strata insurance is often complicated, having a broker to assist with your needs is invaluable.
An experienced strata broker will be familiar with your local requirements, such as Queensland’s Body Corporate and Community Management Act 1997 and how they impact your insurance needs.
Residential strata insurance covers most of the risks that come with a strata complex like weather events, malicious damage, fire and injury in common areas.
What can be covered
- Rebuilding costs
- Public liability
- Damage to common areas/facilities
- Loss of rent for investors
- Temporary accommodation for owners occupiers
- Office bearers' liability
- Weather damage
- Misappropriation of funds (fidelity cover)
What may not be
- Inherent or latent defects
- Erosion or earth-moving
- Mould
- Deterioration, wear & tear
- Injury to, or caused by, animals in common areas
- Cyber-crime & data loss
- Murder or suicide on premises
Get started with Retail Insurance
Protection for your residential strata complex and body corporate, to ensure your investment is secure and compliant.
Residential Strata claim example
Ken is one of the owners in his unit complex with five other residents. A pipe bursts inside the unit above Ken, with water coming through and damaging Ken’s unit.
Ken lodges a claim on his home contents policy, which responds to pay for his general contents – but his insurer tells him they won’t cover damage to his carpets or fixed cabinetry which have been destroyed as these are classified as “building.”
Ken then reaches out to the insurance broker who manages the strata insurance for his complex. They lodge the claim for building items for Ken which fills in the gaps to restore Ken’s unit.
Under this same claim, the insurer also restores damaged carpets in the common area protecting all the owners against this unexpected cost.
Why Choose CIB?
Consolidated Insurance Brokers can help by placing you with the best policy for your needs. We’ll find you the most competitive rate possible, and offer advice to ensure your insurance protects what matters.
Our Expertise
Committed to finding you the best insurance solution, our team of knowledgeable insurance brokers will get you the best price available
Your Partner
Safe time and effort by letting our team of expert insurance brokers do the work for you, we can manage your insurance on your behalf.
Clear Terms
We will put an end to the endless jargon, we can help you understand your quotes and policies in clear terms.
Full Cover
We are able to access insurance policies that are not available when buying direct, allowing us to get you a more comprehensive cover and better benefits.
What our clients have to say
109 James Street, New Farm
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I recently had the privilege of connecting with Mark McGuire. I had never used a broker for my Strata Insurance, but it was the best decision I made this year. Not only did he save us nearly $1600, but the properties are … More now insured for more and with better coverage options. He was extremely efficient and made the process very easy. I could not recommend his services any more highly!
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I can't recommend Alison and the team highly enough. I had an urgent request for building insurance and Alison ensured we became a priority as we had to have insurance within the day. She tailored our request to get … More the best possible cover and price. Thank you!
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I have just started my own business and insurance is a must I contacted consolidated insurance brokers and was able to speak with someone who knew what I needed and was very helpful with ideas on having the correct insurance … More policies.If you want insurance at the best rate possible look no further.Tracey Eaton has many years of experience dealing with insurance companies and will find you the best rate possible.Having a broker like Tracey gives me piece of mind that I will always only pay for things I need for my business.Thank you Tracey for all your help with getting the right insurance for me.
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If you need an exceptional insurance consultant, I strongly recommend Clayton at Consolidated Insurance Brokers! He is the best! From our first conversation, my requirements were understood and concerns availed. With strong … More policy knowledgeable and sharp solutions, Clayton made clear the process, showing professional care for me and my business specific needs. I am very pleased with the identified solution from a top tier insurance firm at a great competitive price. I very much enjoyed our conversations and now look forward to welcoming Clayton to my cafe.
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Alison went out of her way to provide information need to review an existing account with another broker. It was easy to explain what was wanted and recommendations from Alison enabled the review to flow. Her knowledge of … More the Insurance world impressed me and she is a pleasure to speak with. Alison is credit to the company and is easy to speak with. I was sorry we could not get a better figure. but she did her best. Thank you for allowing me to comment.
How can we help?
With access to a range of reputable insurers, and policies not available to the public, we can offer you a range of competitive residential strata insurance quotes.
We’ll help you compare the price with the coverage of your options, so you can decide.
For every new business quote and renewal, we break down all important changes and comparisons in plain English. Say goodbye to the uncertainty of not knowing when or if you’re covered.
Frequently Asked Questions
There are many benefits of using a broker over buying directly from the insurer. Insurance brokers:
- Work on your behalf to secure you better protection through their negotiating power
- Help you understand your risks and empower you to make better life / business decisions
- Ensure insurers are held accountable to their promise to protect what you value during claims
- Save you time and money by taking care of comparing and customising policies for your needs
No Obligations, Completely Free
Get a Quote Today
Talk today with our team to find the right kind of insurance that will suit your needs.
