Strata Insurance

At Insurance Broking Services, we understand the unique challenges faced by owners corporations, body corporates, strata managers, and lot owners across residential and commercial strata-titled properties. Strata insurance is compulsory in all Australian states and territories — owners of strata-titled property do not have the option to opt out — but being compulsory does not mean all policies are equal. The building sum insured must reflect the true cost of reinstatement, including demolition, debris removal, and professional fees, and underinsurance in strata is a widespread and serious problem. Common property covers the building, shared areas, paths, walls, fencing, and common equipment, but the scope of what constitutes common property versus lot owner responsibility differs by state legislation and policy wording, and getting this boundary wrong can leave owners exposed at claim time. Beyond the building, strata schemes face exposure from public liability on common areas, machinery breakdown of shared plant (lifts, pumps, air conditioning), office bearers liability for committee decisions, and fidelity risk from the misappropriation of owners corporation funds. We leverage our industry knowledge and insurer connections to build tailored strata insurance solutions for your situation — from small residential duplexes through to large mixed-use and commercial strata complexes — ensuring your building, your common property, your committee, and your owners are properly protected.